Nationwide Building Society Conveyancing Panel Recently Asked Questions from members of the public
I am expecting a mortgage with Nationwide Building Society. my intention is to use a Licensed Conveyancer. Does the Nationwide BS Conveyancing panel include conveyancers regulated by the CLC
Nationwide Building Society’s conveyancing panel is, like many other lenders associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Our son-in-law is in the process of securing a house that has just been built with a home loan from Nationwide BS. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Nationwide Building Society conveyancing panel as a standard part of the process, and to the valuer when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nationwide BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am purchasing a flat and require a conveyancing solicitor in who is on the Nationwide Building Society approved. Can you recommend a local conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nationwide BS . We don’t recommend any particular firm.
The lawyers that I recently instructed on my house acquisition in Newcastle has suddenly closed. I chose them because I needed a lawyer on the Nationwide Building Society conveyancing panel and my preferred lawyer was not. I gave my credit card details for them to take £175 for searches. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would 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 BS 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 solicitors may be able to help
Do most lenders 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 Nationwide Building Society conveyancing panel requirements are different to Nationwide BS’s conveyancing panel criteria.
My wife and I have arranged a further advance on our mortgage from Nationwide Building Society as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Nationwide BS conveyancing panel to deal with the legals?
Nationwide Building Society would not normally instruct firms on 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 panel
My offer was accepted on an apartment on the 7th March 2014, valuation was booked five days after, received a clean bill of health. Conveyancer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Nationwide Building Society and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Nationwide BS conveyancing panel. Can the lender hold off the offer?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nationwide BS to deal with your lawyers application to be on the Nationwide Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.
