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Nationwide Building Society Solicitor Panel: Recently Asked Questions
Is it true that the Law Society has recommended that firms check their status on the
Nationwide Building Society conveyancing panel?
The Law Society of Scotland has advised that solicitors should check their lender panel status prior to accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the
Nationwide Building Society conveyancing panel. The suggestion arises from the practice of a number of mortgage lenders who remove solicitors from their panels without prior notice as part of their panel management system, which can lead to some solicitors discovering this only once instructed. This is sensible advice as a client finding out midway through a transaction that their lawyer is not on the approved lender panel is very frustrating and can lead to complaints. Many online consumer forums contain posts where someone is complaining about finding that their lawyer is not on a lender conveyancing panel. Such forums include mumsnet.com
Are the Council of Licensed Conveyancers taking any action to protect licensed conveyancers from being removed from lender panels?
As is the case with the Law Society the CLC has entered dialogue with banks and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. It is likely that that the CLC have been in touch with lenders such as
Nationwide Building Society as well as the BSA.
Do I face being suspended off the
Nationwide Building Society conveyancing panel if I have not sent the TID on a purchase within a certain period of completion?
You might expect
Nationwide Building Society via their Part Two obligations to address this but the Handbook is silent on deadlines to send deeds. You need to look at the Terms of
Nationwide Building Society’s Conveyancing Panel Appointment that you are bound by. For many lender's these Terms contain a clause such as:
‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is important to keep
Nationwide Building Society updated.
Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.
My PI renewal application this year contained the following question: ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the UK Finance Lenders’ Handbook?’ My firm is on numerous approved panels including the
Nationwide Building Society conveyancing panel. We have Terms and Conditions of appointment which we are duty bound to comply with. Am I supposed to mention these Terms ?
The key here is the caveat ‘more onerous’.
You have to try and take an objective view as to whether the Terms relating to the
Nationwide Building Society conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.
In carrying out leasehold due diligence do
Nationwide Building Society panel solicitors need to consider if there is an insolvent landlord?
On the basis that your practice in is on the
Nationwide Building Society conveyancing panel and you are representing them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If
Nationwide Building Society are to lend, they may require indemnity insurance. In any event,you will need to check
Nationwide Building Society’s specific requirements. Notwithstanding whether
Nationwide Building Society will lend in such circumstances you still need to advise the borrower (unless you are acting for
Nationwide Building Society alone) as to the risks of buying a property with an insolvent or absentee freeholder.
Our membership of the
Nationwide Building Society conveyancing panel was terminated but was reinstated on appeal, do I need to include this information on my application for CQS accreditation?
It would be advisable to provide details of the date of removal, information on the reason for
removal, date of appeal and any reason given for reinstatement. This
should not negatively affect your application but gives the Law Society viability as to what has occured.
I am on the
Nationwide Building Society
conveyancing panel and scheduled to complete a purchase within the next few weeks. I dont have a Legal Charge for the client to execute.
Who do I contact at Nationwide Building Society to get a duplicate Deed?
You need to contact Nationwide Building Society
to obtain standard documents. The CML Handbook incorporates an express inquiry for lenders to enumerate who to contact to obtain standard documents.
Nationwide Building Society in their Part 2’s state:
You will need to quote your Nationwide Building Society solicitors panel reference.
Find a Lawyer on the Nationwide Building Society Conveyancing Panel
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Average number of days to register title including a charge in favour of Nationwide Building Society
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Nationwide Building Society Firms
- Draft Report on Title precedent for Nationwide Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Nationwide Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Nationwide Building Society lender panel
- Buy-to-Let help for Nationwide Building Society
- Consent-to-Let help for Nationwide Building Society
- Contractor Mortgages with Nationwide Building Society
