Nottingham Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. It is a unique risk management tool.

This software optimises the way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with automatic updates on Nottingham Building Society’s changes. Even though using this technology is not a condition for acceptance on the Nottingham Building Society panel, demonstrating you can stay up to date with Nottingham Building Society’s Handbook requirements is an excellent support to your application to their lender panel and, more importantly, safeguard your firm’s panel standing.

The software generates real-time alerts, automatically produces regulatory and CQS reports, and will enhance your firm's efficiency. It is also simply to use, cost-effective and, for many firms, results in reduced PII premiums.

Find a Law Firm approved by Nottingham Building Society

Lenders frequently vary their requirements. The BSA instructions from Nottingham Building Society are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes

Since 2010, Nottingham Building Society has made 18 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 151.7 days. In total, 14% of the sections of the BSA Requirements for Nottingham Building Society have been changed since 26/1/2010.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
C.2 06/04/2018 BSA
C.12 06/04/2018 BSA
C.12 21/04/2016 BSA
E.12 21/03/2016 BSA
D.34 25/08/2015 BSA
E.10 14/02/2014 BSA
E.18 14/02/2014 BSA
F.10 14/02/2014 BSA
C.12 14/02/2014 BSA
B.3 14/02/2014 BSA

Last update 12/01/2019

Nottingham Building Society Conveyancing Panel Sample Enquires to our Call Center from members of the public

A solicitor I wanted to use for conveyancing on a remortgage said she will levy higher legal fees if my mortgage is with Nottingham Building Society due to their unusual legal requirements. Am I likely to be frustrated using Nottingham Building Society? Is Nottingham Building Society conveyancing so much more difficult?
Nottingham Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders. It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender. It is not clear if your lawyer is on the Nottingham Building Society conveyancing panel. If they are not, this does add further risk of delay as Nottingham Building Society will appoint their own solicitors to look after their interest.
Our lawyer has informed me that he requires ID documents saying that this is part of his requirements as a conveyancer on the Nottingham Building Society Solicitor panel. Can you confirm whether this is the case?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that Nottingham Building Society also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Nottingham Building Society CML Handbook requirements last updated on Nottingham Building Society
Are there any apps to help find a local solicitor on the Nottingham Building Society conveyancing panel? I have a car and am prepared to travel up to 10 kilometers to meet the lawyer.
You can use the find a conveyancing panel search on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Nottingham Building Society solicitor panel.
I am purchasing a terraced house and getting a mortgage with Nottingham Building Society. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Nottingham Building Society conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Nottingham Building Society conveyancing panel in your location.
Do most banks 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 Nottingham Building Society conveyancing panel requirements are different to Nottingham Building Society’s conveyancing panel criteria.
I currently have a mortgage with with Nottingham Building Society. Conveyancing was finalised months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nottingham Building Society?
Your original mortgage agreement with Nottingham Building Society will provide that you need their approval in advance of renting your property as this is likely to be a breach of Nottingham Building Society’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nottingham Building Society directly. It should not be necessary to do this via a Nottingham Building Society conveyancing panel solicitor.
After shopping around on the internet I have found a solicitor having checked that they are on the Nottingham Building Society conveyancing panel. Does my lawyer arrange the survey of the property? Or I've read lots of house buying,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 Nottingham Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Nottingham Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham 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. or 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 Nottingham Building Society you could contact your them to see if they have a list of approved surveyors.