National Westminster Bank Conveyancing Panel Information

Paragraph 16.2.1 of Part 1 of the Handbook applicable to a solicitor on the National Westminster Bank conveyancing panel reads ‘Our mortgage secures further advances. Consequently, when a further advance is required for alterations or improvements to the property we will not normally instruct a member of our conveyancing panel but if you are instructed the appropriate provisions of this Handbook will apply’.

Although not necessarily published, lenders have varying criteria . We do not hold specific requirements relating to the questions raised as part of the application to be on the National Westminster Bank conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

PII Cover details, including, if relevant, whether the firm is or has been in the assigned risks pool and structure of cover – basic

Whether the firm has ever accepted instructions in respect of property clubs and investment schemes

Solicitor

Full complaints history for each conveyancing solicitor

List of all Licensed Conveyancers within firm

Full disciplinary history for each licensed conveyancer

House price discrepancies (declared to lender vs. registered at Land Registry)

List of all those who fund the firm, including non-lawyers if applicable

Whether the firm is able to operate in other jurisdictions

Areas of Law covered by the firm

For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the National Westminster Bank conveyancing panel to see if you are entitled to a reason.

National Westminster Bank approved solicitors are bound by the UK Finance Lenders’ Handbook instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if National Westminster Bank require, the deed of covenant on their behalf. You will need to check National Westminster Bank CML Part 2 conditions to see if National Westminster Bank have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the National Westminster Bank conveyancing panel

The Law Society’s CQS membership gives no guarantee to lender panel acceptance. Nevertheless the Council of Mortgage Lenders have indicated that it is likely to become a prerequisite for firms wishing to join their approved list of conveyancing solicitors. Some mortgage companies now use CQS as the starting point for Panel approval such as Santander.

You need to contact National Westminster Bank to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an individual question for lenders to establish who to contact to obtain standard documents. National Westminster Bank in their Part 2’s state: Always remember to quote your National Westminster Bank solicitors panel reference.