Nationwide Building Society Conveyancing Panel Information

Nationwide Building Society’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements

No such training is arranged by the CML although they do host a number of useful legal related conferences which are attended by firms on the Nationwide Building Society conveyancing panel. Lexsure intend to run specific lender focused seminars in the near future including a webinar on Nationwide Building Society’s Part 2 requirements. Law firms on the Nationwide Building Society conveyancing panel are welcome. Further details will be made available as part of the LENDERmonitor Alerts.

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 Nationwide Building Society conveyancing panel to see if you are entitled to a reason.

Assuming that your firm in is on the Nationwide Building Society conveyancing panel and you are instructed by 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.

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 adversely impact your application but gives the CQS team a complete picture of what has gone on.

You would be advised to communicate with Nationwide Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook contains a specific section for lenders to enumerate who to contact to obtain standard documents. Nationwide Building Society in their Part 2’s state: Don’t forget to disclose the firm’s Nationwide Building Society conveyancing panel reference.