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My IFA has asked me for my lawyer’ panel member for the National Westminster Bank conveyancing panel. What is the best way to find this out. I have contacted my local National Westminster Bank branch but they have not responded to me.
the sensible thing to do is ask for this information from your solicitor. They should have a central record lender panel numbers including the National Westminster Bank panel reference.
Much to my surprise my conveyancer has requested from me proof of ID documents saying that this is part of his obligations as a conveyancer on the National Westminster Bank Conveyancing 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 Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that National Westminster Bank 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 National Westminster Bank CML Handbook requirements last updated on National Westminster Bank
Do I need to visit the offices of the National Westminster Bank conveyancing panel solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Bristol
so that I can attend their offices if required.
As opposed to 12 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Bristol
.
The firm that I appointed last week on my house acquisition in Newcastle has suddenly shut down. I only went with them because I needed a solicitor on the National Westminster Bank conveyancing panel and my previous lawyer was not. I gave my credit card details for them to take £175 for searches. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the National Westminster Bank conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help
We have a mortgage agreed in principle with National Westminster Bank. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from National Westminster Bank?
Some lenders take longer than others. Have National Westminster Bank conducted the valuation? Have you advised National Westminster Bank as your lawyers details and checked that your lawyer is on the National Westminster Bank conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
I currently have a mortgage with with National Westminster Bank. Conveyancing has been completed a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform National Westminster Bank?
Your original mortgage agreement with National Westminster Bank will provide that you need their approval prior to renting your property as this is likely to be a breach of National Westminster Bank’s mortgage conditions. It may be that National Westminster Bank 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 National Westminster Bank directly. It should not be necessary to do this via a National Westminster Bank conveyancing panel solicitor.
I recently had an offer accepted on an apartment. My financial adviser recommended their conveyancers I paid an upfront payment of 175. Soon after the conveyancers contacted me sheepishly admitting that they were not on the National Westminster Bank conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the National Westminster Bank panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.