Nottingham Building Society Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Nottingham Building Society and to assist in remaining on the Nottingham Building Society Approved Conveyancing Solicitors Panel.

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.

Do Nottingham Building Society or the BSA run CPD seminars for the Nottingham Building Society approved solicitor panel in much the same way that the Law Society run cases for CQS accedited practices?
The BSA do not involve themselves in training however they do organise a number of useful legal related conferences which are attended by firms on the Nottingham Building Society conveyancing panel. It is our intention to run specific lender focused seminars in the coming months including a webinar on Nottingham Building Society’s obligations . Solicitors on the Nottingham Building Society conveyancing panel will be invited . Information about the webinar will be communicated as part of the LENDERmonitor Alerts .
Are the BSA planning on creating a search tool with a view to list practices on the Nottingham Building Society conveyancing panel ?
We have not been informed any intention on the part of the BSA to promote such a register .
An established client of mine is purchasing a new build house for £835,250 in Sussex with a mortgage over GBP 415k. I am on the Nottingham Building Society conveyancing panel but do Nottingham Building Society have a separate approved panel when the advance is above 350k?
We only know of two or three banks that operate a separate approved solicitors panel where the mortgage advance is over a certain threshold. You should nevertheless check directly with Nottingham 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 Nottingham Building Society
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.

St Giles’ PII renewal form questions if my practice had been excluded from any lender panels in the last year . I just became aware that the practice is no longer on the Nottingham Building Society solicitor panel? Is this likely to impact my insurance?
Your insurance brokers are your best port of call to address this question. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Nottingham Building Society solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.
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.
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2024 [no data]
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* Data aggregated from sources including COMPLETIONmonitor