Q and A’s regarding the National Westminster Bank Solicitor Panel from members of the public
Can you please explain the reason why all solicitors are not on the National Westminster Bank Conveyancing panel?
Pre- 2008 most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
I am buying a newly constructed flat and my conveyancer is advising me that she is duty bound to disclose incentives from the developer as her firm is on the National Westminster Bank conveyancing panel. I am nearing the developer’s deadline to exchange contracts and I would rather not prolong matters. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the National Westminster Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on National Westminster Bank). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Whilst your website is a good idea there are many lawyers listed near Manchester on the National Westminster Bank conveyancing panel. Can you recommend a specific firm on the conveyancing panel for National Westminster Bank ?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
Please explain the implications if my solicitor is suspended from the National Westminster Bank Solicitor panel prior to completion?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am selling my apartment. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, National Westminster Bank are being difficult. The solicitor who is on the National Westminster Bank conveyancing panel is saying indemnity insurance will be fine but National Westminster Bank are requiring a building regulation certificate. Why do National Westminster Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that National Westminster Bank have referred the matter to their valuer. The reason why National Westminster Bank may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
My ex -wife’s name is on the National Westminster Bank mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the National Westminster Bank mortgage in order to sell?
As regards the National Westminster Bank mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of National Westminster Bank in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
My husband and I are acquiring a house in Hendon. Conveyancing solicitors in Hendon are preferred to beretained. My mothersuggested that we check that the conveyancing practitioner in Hendon is on the National Westminster Bank approved list of lawyers. Surely I don't need to do this, do I?
A limited percentage of Hendon conveyancing practices are on the National Westminster Bank conveyancing panel. Click here to find a Hendon conveyancing solicitor on the on the National Westminster Bank solicitors pane.