FAQs for the National Counties Building Society Conveyancing Panel from members of the public
My property lawyer has never been on on the National Counties Building Society Approved Panel. Can I still retain my preferred solicitor even though they are excluded from the National Counties Building Society panel of approved conveyancing solicitors?
You will need to have a conveyancer complete the legal work required when you take out a National Counties Building Society mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the National Counties Building Society conveyancing panel additional costs will be incurred as separate legal representation will be required by National Counties Building Society. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
Our conveyancer has identified a legal deficiency with the lease for the property we are purchasing. The other side have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer has advised that as he is on the National Counties Building Society conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or National Counties Building Society?
Just because you have a mortgage offer from National Counties Building Society does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and National Counties Building Society are the client. The appropriate lender requirements must be adhered to by the National Counties Building Society conveyancing panel who has to balance acting for you and National Counties Building Society
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I understood that this was a condition of being on the National Counties Building Society conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
My lawyers in London have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with National Counties Building Society. Is it case that being on the National Counties Building Society conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the National Counties Building Society Conveyancing Panel Terms. It might be worth you contacting National Counties Building Society directly.
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the National Counties Building Society conveyancing panel requirements are different to National Counties Building Society’s conveyancing panel requirements.
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to proceed? I plan to obtain a mortgage with National Counties Building Society. Is there anyway to cut out the solicitors to save on the costs? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with National Counties Building Society involved you will need to appoint a solicitor on the National Counties Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to National Counties Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the National Counties Building Society conveyancing panel.
My brother and I have agreed a price on a apartment I spoke to a conveyancer recommended by my brother and he recommended instructing a solicitor approved by National Counties Building Society. The estate agent recommended two local firms so I asked National Counties Building Society if the 2 suggested solicitors are approved, which they are not. National Counties Building Society pointed out that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of National Counties Building Society 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask National Counties Building Society for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the National Counties Building Society conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto National Counties Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet National Counties Building Society’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
