Norwich and Peterborough Building Society Conveyancing Panel : Questions and Answers from members of the public
I am expecting a offer of a mortgage from Norwich and Peterborough Building Society. my intention is to employ the services of a Licensed Conveyancer. Does the Norwich and Peterborough Building Society Solicitor panel exclude conveyancers regulated by the CLC
Norwich and Peterborough 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.
My husband and I intend to remortgage our penthouse with Norwich and Peterborough Building Society. We have a son 19 who lives with us. The solicitor on the Norwich and Peterborough Building Society conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is repossessed. I have a couple of concerns (1) Is this document specific to the Norwich and Peterborough Building Society conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Norwich and Peterborough Building Society .This is solely used to protect the Norwich and Peterborough Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Norwich and Peterborough Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Norwich and Peterborough Building Society conveyancing panel. My lawyer has said that they are on the Norwich and Peterborough Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Norwich and Peterborough Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Norwich and Peterborough Building Society solicitor panel.
Please explain the implications if my solicitor is suspended from the Norwich and Peterborough Building Society Solicitor panel prior to completion?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
When it comes to lenders such as Norwich and Peterborough Building Society do solicitors have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Hi, thinking about buying a house off my mate. Once we agree a price, what’s the best way to proceed? I plan to obtain a mortgage with Norwich and Peterborough Building Society. Is there anyway to cut out the solicitors to save us both money? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Norwich and Peterborough Building Society involved you will need to appoint a solicitor on the Norwich and Peterborough Building Society 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 Norwich and Peterborough Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Norwich and Peterborough Building Society conveyancing panel.
We were going to get a DIP from Norwich and Peterborough Building Society this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Norwich and Peterborough Building Society recommend a solicitor on the Norwich and Peterborough Building Society conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Norwich and Peterborough Building Society conveyancing panel. The solicitor represents both you and the Norwich and Peterborough Building Society through the process.