Nationwide Building Society Conveyancing Panel Compliance

Nationwide Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. It is a unique risk management tool.

This software assists the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with notifications given on Nationwide Building Society’s changes. While utilising the tool is not a prerequisite for Nationwide Building Society , demonstrating you can remain up to date with Nationwide Building Society’s Handbook requirements is an excellent support to your application to their lender panel and, more importantly, safeguard your panel status.

COMPLETIONmonitor creates real-time alerts, automatically produces compliance and CQS reports, and will enhance your firm's efficiency. It is also simply to use, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by Nationwide Building Society

Mortgage companies frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from Nationwide Building Society are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes

Since 2008, Nationwide Building Society has made 261 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 10.5 days. In total, 40% of the sections of P2 of the UK Finance Lenders’ Handbook for Nationwide Building Society have been changed since 15/12/2008.

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Recent Changes Include

#	Date	Assoc.	Changes Related To
10.10	19/03/2019	CML	holding the mortgage advance
6.7.1	03/08/2018	CML	New Build Conveyancing Nationwide Building Society panel conveyancer requirements for New Build Conveyancing : Home Warranty Schemes
5.14.9	17/07/2018	CML	Leasehold Conveyancing Contact details at Nationwide Building Society for approved lawyers for matters relating to the lease.
6.7.1	13/07/2018	CML	New Build Conveyancing Nationwide Building Society approved conveyancer requirements for New Build Conveyancing : Home Warranty Schemes
5.5.4	18/06/2018	CML	Planning Permission and Building Regulations : Restrictions Contact details at Nationwide Building Society for approved lawyers where the property is subject to restrictions which may affect its value or marketability Restrictive Covenant Indemnity Insurance
6.12.1	18/06/2018	CML	Pre-emption Rights, Options and Pre-emption Rights Contact details at Nationwide Building Society for approved lawyers to used where Nationwide Building Society needs to be notified where property is affected by pre-emption rights, resale restrictions, options etc .
6.12.1	05/03/2018	CML	Pre-emption Rights, Options and Pre-emption Rights Contact details at Nationwide Building Society for conveyancing panel lawyers to used where Nationwide Building Society needs to be notified where property is affected by pre-emption rights, resale restrictions, options etc .
5.14.1	10/05/2017	CML	Leasehold Conveyancing Nationwide Building Society panel lawyers leasehold conveyancing requirements : minimum unexpired lease term
6.7.1	27/01/2017	CML	New Build Conveyancing Nationwide Building Society approved conveyancer requirements for New Build Conveyancing : Home Warranty Schemes
5.2.1	02/09/2016	CML	Seller not registered Contact details at Nationwide Building Society for conveyancing panel lawyers for where the seller is not the owner or registered proprietor and is not listed in the exceptions in the CML Handbook P1.

Last update 12/03/2019

Examples of recent questions relating to the Nationwide BS Solicitor Panel from members of the public

On what basis could a law firm be excluded from the Nationwide Building Society approved conveyancing panel?

A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been excluded from a lender panel. The top reasons in order are :

lack of transactions
the lawyer is a sole practitioner
as part of the HSBC panel reduction
regulatory contact by SRA
accidental removal. We are not aware of the specific or common criteria for removal by Nationwide BS

We are only a couple days away from an exchange and my parents having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Nationwide Building Society. I am advised that, being on the Nationwide BS conveyancing panel and acting on their behalf he must inform Nationwide Building Society if the balance of the mortgage advance is not just from me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?

Your lawyer is obliged to check with Nationwide BS to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Nationwide Building Society if you agree, failing which, your lawyer must cease to continue acting.

I am planning to acquire a property and need a conveyancing solicitor in Birmingham who is on the Nationwide BS conveyancing. Can you recommend a local firm?

Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nationwide Building Society . We don’t recommend any particular firm.

My lawyers in London have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Nationwide BS. Is it case that being on the Nationwide 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 Nationwide BS Conveyancing Panel Terms. It might be worth you contacting Nationwide Building Society directly.

Are all Conveyancing Quality Solicitors on the Nationwide BS conveyancing panel?

Some major lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.

We are getting a further advance on our mortgage from Nationwide Building Society as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Nationwide BS conveyancing panel to deal with the paperwork?

Nationwide Building Society would not normally appoint a member of their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Nationwide BS list

Me and my partner are purchasing a terraced house in Hendon. Conveyancing solicitors in Hendon need to beinstructed. My brokersuggested that we check that the property lawyer in Hendon is on the Nationwide Building Society list of approved conveyancing firms. Is this really necessary?

A limited percentage of Hendon conveyancing solicitors are on the Nationwide Building Society conveyancing panel. 5 people a month use our search tool to locate a Hendon conveyancing practitioner on the on the Nationwide BS list of approved conveyancing firms.