Looking for information about your firm's panel status?
Nottingham Building Society Solicitor Panel Information:
What are the Nottingham Building Society conveyancing panel arrangements?
Unlike the CML the Building Society Mortgage Instructions deal with this. Section A.12 states ‘In order to act on our behalf your firm or company must be a member of our conveyancing panel provided we are a society that operates one – see specific requirements for details of our arrangements.
The Special Requirements state:
Minimum of 2 principle partners, minimum 3 year trading history, £2m liability insurance or £3m for LLP’s, practising certificates required and Sole practitioners not acceptable. Contact Lending services
You must also comply with the terms and conditions of your Nottingham Building Society solicitor panel appointment.
Do Nottingham Building Society or the BSA run professional training seminars for the Nottingham Building Society approved conveyancing panel in the same way that CQS run CPD Courses for accredited firms?
The BSA do not involve themselves in training but they do host numerous useful legal related conferences which are attended by firms on the Nottingham Building Society conveyancing panel. Lexsure intend to run specific lender focused seminars in the coming months including a webinar on Nottingham Building Society’s obligations . Practitioners on the Nottingham Building Society conveyancing panel are welcome . Information about the webinar will be communicated as part of the LENDERmonitor change Notifications .
Do the Building Society Association intend to launch a searchable register to list practices on the Nottingham Building Society conveyancing panel ?
We would not expect to be advised of any intention on the part of the BSA to develop such a tool .
I am hearing that agents are using online checkers to see if a firm is on a lender panel. Why?
Many estate agents will be feeling the pain if their clients start out on the buying process having appointed a conveyancer who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors lawyers.
Given my firm’s membership on the Nottingham Building Society conveyancing panel how long am I obliged to archive the complete conveyancing file?
The BSA Mortgage Instructions state that the firm must keep the file for a minimum six years from the date of the mortgage. Data imaging is normally suitable
compliance with this requirement. As a firm on the Nottingham Building Society conveyancing panel you must allow Nottingham Building Society to conduct such reasonable audit of your
information security measures as Nottingham Building Society or their
agents may to ensure your compliance with your file retention
obligations.
I recently attended a seminar arranged via my PI broker where it was mentioned that solicitors are being sued for non-compliance with BSA Mortgage Instructions. I am on the Nottingham Building Society conveyancing panel. Can you tell me how many Specific Requirement changes took place by Nottingham Building Society during 2013?
During this period 3 sections of the BSA Mortgage Instructions were changed by Nottingham Building Society. Some changes are more important than others but as a firm on the Nottingham Building Society conveyancing panel you are of course obliged to comply with individual lender requirements. Locktons have recently pointed out in an article that non-compliance with lender 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: BSA requirements are not guidelines; they are the lender client’s instructions.
My firm is on the Nottingham Building Society conveyancing panel. I am
dealing with Nottingham Building Society mortgage on a purchase. My
borrower client is asking not to disclose an issue to Nottingham Building Society. What do I do in this conflict situation?
When a solicitor is acting for both Nottingham Building Society and
borrower there is potential for conflicts to arise. You owe duties to
both clients. All information received by you from your client is
confidential and cannot be disclosed without the client’s consent.
In your situation, if the purchaser will not consent to the information being passed on to the lender, the solicitor must cease to act for Nottingham Building Society and it may well be prudent for you to cease to act for the purchaser as well. You must not inform Nottingham Building Society of the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your Nottingham Building Society conveyancing panel status.
What lender panels do you receive the most questions about?
BSA lenders do not come within the top 20 lenders in terms of
frequency of questions. The most popular lender panels in terms of
questions are as follows:
Find a Lawyer on the Nottingham Building Society Approved Conveyancing Solicitors Panel
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Average number of days to register title including a charge in favour of Nottingham 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 Nottingham Building Society Firms
- Draft Report on Title precedent for Nottingham Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Nottingham Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Nottingham Building Society lender panel
- Buy-to-Let help for Nottingham Building Society
- Consent-to-Let help for Nottingham Building Society
- Contractor Mortgages with Nottingham Building Society
