FAQs for the Nationwide BS Conveyancing Panel from members of the public
Am I correct in assuming that the fact that my solicitor is not on the Nationwide Building Society Solicitor panel that there is a problem with the standard of the firm’s work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Nationwide BS.
Can you clarify something for me?. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Nationwide Building Society was dated random date and we have agreed a date for me to move into the property on Tues etc. My lawyer has advised that as she is on the Nationwide BS conveyancing panel she needs to reorder the searches as they are no longer acceptable to the lender.
One of the many conditions to being on the Nationwide Building Society approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Nationwide BS)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Nationwide Building Society.
Do all mortgage companies provide you with an approved list of solicitors? How do you know who is on the Nationwide BS conveyancing panel?
The firms themselves provide us confirmation that they are on the Nationwide Building Society conveyancing panel as opposed to being supplied with a list from Nationwide BS directly.
We're in London, First time buyers purchasing with a mortgage (lender is Nationwide Building Society , but our lawyer is on the Nationwide BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Is it the case that all solicitors on the Nationwide BS conveyancing panel regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Nationwide Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
Can I register a complaint to Nationwide BS about the lawyers being on the Nationwide Building Society conveyancing panel?
There is little point in complaining directly to Nationwide Building Society. Every solicitor firm and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Nationwide Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Nationwide BS conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Nationwide Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.