National Westminster Bank Conveyancing Panel Information

This not something that the CML would traditionally get involved with although they do host numerous general legal related conferences which are attended by firms on the National Westminster Bank conveyancing panel. It is our intention to run specific lender focused seminars in the near future including a webinar on National Westminster Bank’s Part 2 obligations. Practitioners on the National Westminster Bank conveyancing panel are welcome. Further details will be made available as part of the LENDERmonitor Alerts.

Criteria differ from lender to lender. 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):

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

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

Full complaints history for each conveyancing solicitor

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 is able to operate in other jurisdictions

List of all Licensed Conveyancers within firm

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

Solicitor

Full disciplinary history for each licensed conveyancer

Areas of Law covered by the firm

In the same way that there is a unique National Westminster Bank conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

During 2013, 167 sections of the UK Finance Lenders’ Handbook P2 were changed by National Westminster Bank. Some changes are more important than others but as a firm on the National Westminster Bank conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

CQS accreditation 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 as is the case with Astra Mortgages.

You need to communicate with National Westminster Bank to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an express question for banks to cite who to contact to obtain standard documents. Always remember to quote your National Westminster Bank solicitors panel number.