Frequently asked questions relating to the NRAM Ltd Conveyancing Panel from members of the public
I am progressing with the sale of my house and the estate agent has just called to say that the purchasers are swapping law firm. The excuse is that NRAM Ltd will only engage with property lawyers on their approved list. Why would a leading lender only deal with specific lawyers?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders blame a rise in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
Our property lawyer has requested from me identification documents asserting that this forms part of his legal duty as a solicitor on the NRAM Ltd Solicitor panel. This is news to me - can I refuse?
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 Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that NRAM Ltd 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 NRAM Ltd CML Handbook requirements last updated on NRAM Ltd
Your search tool is useful but there are many lawyers listed near Manchester on the NRAM Ltd conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the NRAM Ltd approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
My grandfather passed away six months ago and as sole heir and executor was left the house. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to NRAM Ltd , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then NRAM Ltd will insist on your using a conveyancer on the NRAM Ltd conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your NRAM Ltd conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the NRAM Ltd mortgage is registered as a charge at the Land Registry.
Do the majority of 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 NRAM Ltd conveyancing panel requirements are different to NRAM Ltd’s conveyancing panel criteria.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, NRAM Ltd are being pedantic. The solicitor who is on the NRAM Ltd conveyancing panel is saying indemnity insurance will be fine but NRAM Ltd are requiring a building regulation certificate. Why do NRAM Ltd have a conveyancing panel of they don’t accept advice from them?
It is probably the case that NRAM Ltd have referred the matter to their valuer. The reason why NRAM Ltd may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
Me and my partner are remortgaging a garden flat in Hendon. Conveyancing solicitors in Hendon need to beretained. My brokersuggested that we make sure that the conveyancing practitioner in Hendon is on the NRAM Ltd approved list of lawyers. Surely I don't need to do this, do I?
Far from all Hendon conveyancing practices are on the NRAM Ltd conveyancing panel. Use the above search tool to locate a Hendon conveyancing solicitor on the on the NRAM Ltd approved list of lawyers.