Norwich and Peterborough Building Society Conveyancing Panel : Questions and Answers from members of the public
On what basis could a firm of solicitors be excluded from the Norwich and Peterborough Building Society solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been removed from a lender panel. The most common 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 Norwich and Peterborough Building Society
My lawyer has discovered a difference between the information in Norwich and Peterborough Building Society’s home valuation report and what is in the conveyancing documents. My solicitor has advised that as he is on the Norwich and Peterborough Building Society conveyancing panel he needs to ensure that the bank is happy with this discrepancy and is content go ahead. Is my lawyer’s course or action legitimate?
A precondition to being on the Norwich and Peterborough Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Norwich and Peterborough Building Society) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I see that you have a post code search directory listing solicitors on the Norwich and Peterborough Building Society conveyancing panel. Do firms pay you a referral fee if I instruct them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Norwich and Peterborough Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Norwich and Peterborough Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Norwich and Peterborough Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Completion of my remortgage has taken place with a mortgage from Norwich and Peterborough Building Society. Conveyancing was a necessary evil but I would like to complain about Norwich and Peterborough Building Society. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the Norwich and Peterborough Building Society branches or the Customer Services Team at Norwich and Peterborough Building Society head office. In most cases complaints to Norwich and Peterborough Building Society are sorted out very quickly. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service who will take matters further.
After shopping around on the internet I have found a solicitor having checked that they are on the Norwich and Peterborough Building Society conveyancing panel. Does my lawyer arrange the survey of the property?
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I've digested plenty of mortgage guides,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Norwich and Peterborough Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Norwich and Peterborough Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Norwich and Peterborough Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Norwich and Peterborough Building Society you could contact your them to see if they have a list of approved surveyors.
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? At what point should I appy for the mortgage with Norwich and Peterborough 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 Norwich and Peterborough Building Society 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 Norwich and Peterborough Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.