Looking for information about your firm's panel status?
Nottingham Building Society Conveyancing 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.
Will the fact that my practice receives LENDERmonitor Alerts assist in my application to join the Nottingham Building Society conveyancing panel?
The criteria to join the Nottingham Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
Will the fact that my practice has signed up to LENDERmonitor Alerts assist in my application to join the Nottingham Building Society solicitor panel?
The requirements to join the Nottingham Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
A recent SRA survey reveals that three quarters of solicitors have been removed or threatened with removal from a lender conveyancing panel. Nottingham Building Society and other building societies have restricted their panel over the years. Why?
The feeling from lenders generally (we can not speak for Nottingham Building Society specifically), is that for too long
solicitors have concentrated on their duty of care to their purchasing
client, and have paid scant attention to the duty they owe to the
lender, whom they conveniently forget is also their client.
Looking from the lenders’ perspective, it has to be said that there are pressures to encourage smaller panels. The Financial Services Authority regards the open panel system as a major contributor to mortgage fraud and negligence cases, and has been leaning on lenders to move to proactive panel management, which is more expensive the larger the panel. Hence it is becoming more common for lenders to charge fees, and/or require extensive form-filling, from would-be panel members
Nottingham Building Society and other BSA lenders are in varying stages of reviewing their approach to vetting firms on their conveyancing panels, to ensure their ongoing exposure to unsuitable firms is reduced.
My practice have never been on the Nottingham Building Society solicitor panel among other banks . My clients, who have applied for a mortgage with Nottingham Building Society wish use my firms conveyancing services regardless of the fact that we are not on the Nottingham Building Society panel. Am I doing anything wrong is suggesting to my client that they use a local to represent Nottingham Building Society on mortgage aspect of the transaction?
You need to be careful here as what you are intending may not be acceptable to the lender.
It is possible that you (as a non-panel firm) or the mortgage applicant are not entitled instruct a panel firm of your choice. Many lenders make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender will appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer.
You also need to make the costs implications and potential for delay very clear to your client.
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:
I am a partner in a CQS firm on the Nottingham Building Society conveyancing panel. How can we advertise our practice as specialists in conveyancing in Hendon who can act for the borrower and Nottingham Building Society?
11 people attempt to locate a property lawyer on the Nottingham Building Society panel on a monthly basis in Hendon. Feel free to contact the Lexsure team who will tell how your firm can be identified by those searching for conveyancing in Hendon.
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* |
|---|---|
| 2026 | [no data] |
| 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 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
