Nationwide Building Society Conveyancing Panel Information

The Council of Mortgage Lenders, together with Nationwide Building Society and other stakeholders created a standard set of requirements where a conveyancer is acting for a lender such as Nationwide Building Society alone in a residential conveyancing transaction. These legal instructions are contained at Part Three of the UK Finance Lenders’ Handbook and are to be followed in conjunction with Parts 1 & 2. The CML have published an example requirements letter to the borrower’s conveyancer for use by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel lawyer.

We only know of two or three banks that operate a distinct conveyancing panel where the mortgage advance is over a certain level. You should nevertheless check directly with Nationwide Building Society. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Nationwide Building Society

The CML Part II requirements of Nationwide Building Society are silent on this. Most mortgage companies deal with the question of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Nationwide Building Society’s interest. To be absolutely sure of Nationwide Building Society requirements in this regard please check the Terms and Conditions of Nationwide Building Society’s conveyancing panel appointment.

One might ordinarily expect Nationwide Building Society via their Part 2 requirements 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 entered into. 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.

You should supply 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 firm’s application but gives the Law Society viability as to what has gone on.

You need to communicate with Nationwide Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates a specific question for banks to establish who to contact to obtain standard documents. Nationwide Building Society in their Part 2’s state: It helps to quote your Nationwide Building Society solicitors panel number.