Common questions asked concerning the Nottingham Building Society Conveyancing Panel from members of the public
My property lawyer is not listed on the Nottingham Building Society Solicitor Panel. Is it possible for me to continue with my preferred solicitor even though they are excluded from the Nottingham Building Society approved list?
The most common options here are as follows:
- Complete the purchase with your existing lawyers but Nottingham Building Society will need to instruct a lawyer on the Nottingham Building Society conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Nottingham Building Society conveyancing panel.
- Urge your lawyer to apply to join the Nottingham Building Society lender panel
I do hope you can help me. My conveyancer is assuring me that she is duty-bound to order a Local Authority search as the firm are on the Nottingham Building Society solicitor panel. Is my lawyer correct?
You have limited options available to you. Given that you are taking out a loan with Nottingham Building Society your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Nottingham Building Society’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Nottingham Building Society. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I am Googling for conveyancing quotes online. Can I be confident that all the law firms that are listed on your directory are on the Nottingham Building Society conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have assured us via an online form that they are on the Nottingham Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Nottingham Building Society panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Nottingham Building Society conveyancing panel is incorrect.
I was due to complete on my flat yesterday. My solicitor is on the Nottingham Building Society conveyancing panel but has moved offices 8 weeks ago and had not informed Nottingham Building Society of their new address. Nottingham Building Society is now refusing to release my funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Nottingham Building Society branch or your mortgage broker to see if they can assist.
Are all solicitor firms on the Nottingham Building Society conveyancing panel overseen by the SRA?
As a firm of solicitors, in order to be on the Nottingham Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I am buying a property where the roof has a solar panel. Nottingham Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Nottingham Building Society your lawyer must to check the Nottingham Building Society conveyancing instructions contained in the Part of CML Handbook for Nottingham Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Nottingham Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
Intending to buy a flat with a mortgage with Nottingham Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nottingham Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Nottingham Building Society conveyancing panel