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Nottingham Building Society Conveyancing Panel Recently Asked Questions
We are buying a 3 bedroom flat in Hackney with a mortgage from Nottingham Building Society. We have a lawyer but Nottingham Building Society says he's not on their "panel". We have to appoint one of the Nottingham Building Society panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Nottingham Building Society use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Nottingham Building Society conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Nottingham Building Society
Much to my surprise my conveyancing solicitor is asking me for personal identification documents asserting that this forms part of his obligations as a conveyancer on the Nottingham Building Society 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 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
How up to date is your database of lawyers on the Nottingham Building Society conveyancing panel? Do Nottingham Building Society send you an updated list?
The firms themselves provide us confirmation that they are on the Nottingham Building Society conveyancing panel as opposed to being supplied with a list from Nottingham Building Society directly.
We're in London, First timers purchasing with a mortgage (lender is Nottingham Building Society , but our lawyer is on the Nottingham Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
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?
Given that your lender is 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. Requirements for Scotland are due in the near future.
We were going to get a DIP from Nottingham Building Society this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Nottingham Building Society recommend a solicitor on the Nottingham Building Society conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Nottingham Building Society conveyancing panel. The solicitor represents both you and the Nottingham Building Society through the process.
I have instructed a lawyer having made sure that they are on the Nottingham Building Society conveyancing panel. Does my lawyer arrange the survey of the property?
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I've read lots of mortgage guides,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 correct?
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.
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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.