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Nationwide Building Society Conveyancing Panel: Recently Asked Questions
Nationwide Building Society would like me to act for them alone on a residential conveyancing transaction , using the CML Lender’s Handbook. The borrower has his own solicitor (not on the
Nationwide Building Society conveyancing panel) How will this work and are there different instructions from Nationwide Building Society in this situation?
The CML, together with
Nationwide Building Society and other lenders created a standard set of requirements where a solicitor is acting for a lender such as Nationwide Building Society alone in a residential conveyancing matter.
These obligations are contained at Part III of the UK Finance Lenders’ Handbook and are to be read together with Part I and II.
The CML have published an example requirements letter to the borrower’s conveyancer for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel solicitor.
Are the Council of Licensed Conveyancers taking any action to ensure that licensed conveyancers remain on lender conveyancing panels?
As is the case with the Law Society the Council of Licensed Conveyancers has entered dialogue with lenders 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. We expect that that the CLC have been in touch with lenders such as
Nationwide Building Society as well as the BSA.
Theoretically Nationwide Building Society could request or audit my files as I am on the
Nationwide Building Society conveyancing panel. How should I respond in the event of such a demand?
We can't comment specifically on
Nationwide Building Society. Many major lenders are now introducing ‘file auditing’ as standard practice in relation to completed matters. This raises questions of confidentiality in relation to the buyer client and the purpose to which the results of such audits will be put. The starting point is to remember that the file does not belong to your firm, it belongs to the ‘client’. But, of course, we will normally have two clients – the buyer and the lender - and you will owe a duty of confidentiality to each. So basically, you have to separate the file and just send the lender the parts solely relating to themselves. But, of course, as this will basically be correspondence with the lender, mortgage instructions etc.
Check with your COLP but a firm should not send the complete conveyancing file without the buyer client’s express consent – and if he is in dispute with the lender she is hardly likely to agree. However, if the lender can establish a prima facie case of fraud, then you may be under an obligation to disclose the whole file.
The emerging convention is that lenders are including an authority to disclose in loan application forms to counter this problem. Mortgage Express v Sawali, [2010] EWHC 3054 (Ch) indicates that such provisions are valid. Please click here for more information about that case.
Every so often I read a LENDERmonitor email but I rarely see change of note. By way of illustration, I am on the
Nationwide Building Society conveyancing panel and get an alerts simply telling me a change of address. Why is that of any relevance?
It is important that you take note of such changes because sending a communication or deeds to the wrong address can cause delays that might not only affect your borrower client but also affect your ability to remain on the
Nationwide Building Society conveyancing panel. Lets say that Nationwide Building Society change their requirements as to where the post completion documents should be sent.
Do you update the details in your CMS? Is this recorded anywhere? Is this communicated to the staff? In your Certificate of Title to Nationwide Building Society you are giving assurances that you will send the deeds within 10 days of receiving the TID. Leaving to one side whether you are in breach of an undertaking in sending it to the wrong address, you run the risk of
Nationwide Building Society suspending you off the panel because they are not receiving the deeds in accordance with the COT. It will not be a valid excuse to say that you sent it to an out of date postal address or DX details.
Our membership of the
Nationwide Building Society conveyancing panel was revoked but was reinstated on appeal, do I need to include these details on my application for CQS accreditation?
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 CQS team a complete picture of what has happened.
Our practice is on the
Nationwide Building Society
conveyancing panel and scheduled to complete a purchase within the next week. I can not locate a Legal Charge for the client to execute.
Who do I contact at Nationwide Building Society to obtain duplicate documents?
You need to contact Nationwide Building Society
to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates a specific inquiry for lenders 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 conveyancing 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* |
|---|---|
| 2026 | 0.0 |
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [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
