Nationwide Building Society Conveyancing Panel Example Support Desk Enquires from members of the public
My Conveyancer has never been on on the Nationwide Building Society Conveyancing Panel. Can I still continue with my family solicitor even though they are not on the Nationwide BS panel?
You will need to have a conveyancer complete the legal work required when you take out a Nationwide 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 Nationwide BS conveyancing panel additional costs will be incurred as separate legal representation will be required by Nationwide Building Society. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
Expecting to move into my new home next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in has capacity as lawyer for Nationwide BS. What does the insurance need to cover?
All property lawyers on the Nationwide BS conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Nationwide Building Society’s Part 2 requirements of the CML Handbook (last updated on Nationwide BS). Being on the Nationwide Building Society conveyancing panel your lawyer is expect to follow these instructions.
I see that you have a post code search directory identifying law firms on the Nationwide BS conveyancing panel. Do firms pay you a referral fee if I appoint them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
The solicitors that I appointed last week on my house acquisition in Brighton has without warning closed. I only went with them because I needed a firm on the Nationwide BS conveyancing panel and my preferred lawyer was not. I paid them £200 on account. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Nationwide Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to proceed? I hope to get a mortgage with Nationwide BS. Is there anyway to cut out the solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Nationwide Building Society involved you will need to appoint a solicitor on the Nationwide BS 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 Nationwide Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Nationwide BS conveyancing panel.
I have today made my last payment due on mortgage with Nationwide Building Society. I assume I don't need a solicitor on the Nationwide BS panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Nationwide Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nationwide BS mortgage from the register. Nationwide Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Nationwide BS has sent the Land Registry the discharge electronically, and
the Nationwide Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Nationwide BS mortgage has been paid off.
For 5 years I had a mortgage with Nationwide Building Society. My grandfather retired last week and wants to pay off the mortgage left on the property. After Nationwide BS is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Nationwide Building Society conveyancing panel? I do not intend to live at the property once the Nationwide BS mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Nationwide Building Society panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
