Looking for information about your firm's panel status?
Nottingham Building Society Conveyancing Panel Assistance:
What are the Nottingham Building Society conveyancing panel criteria?
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.
Given my firm’s membership on the Nottingham Building Society conveyancing panel how long am I obliged to keep hold of the complete conveyancing file?
The BSA Mortgage Instructions state that the firm must keep the file for at least 6 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.
I noticed the following question on my PI renewal form this year ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the BSA Mortgage Instructions?’ My firm is on numerous bank panels including the Nottingham Building Society conveyancing panel. We have Terms and Conditions of appointment which we have to follow. Am I supposed to mention these Conditions?
The key here is the caveat ‘more onerous’.
You have to try and take an objective view as to whether the Terms relating to the Nottingham Building Society conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the BSA Mortgage Instructions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before moving forward on this question.
I have been a solicitor for nearly 35 years with a clean claims history and have been refused acceptance on the Nottingham Building Society conveyancing panel with no explanation. Am I not entitled to know why?
Participation on the lender's panel of conveyancers is at the absolute
discretion of the the lender. The days of open panels are now long
gone. Many lenders reserve the right to accept or reject any
application without giving any reason. You should check your original
application to join the Nottingham Building Society conveyancing panel
to see if you are entitled to a reason.
Do publish figures exists disclosing the Nottingham Building Society conveyancing panel size and the number of conveyancing firms removed from their panel each quarter?
With mortgage companies and conveyancers working so closely with one another it is surprising that there has not been much call for the introduction of a bit of transparency regarding not just the figures for the Nottingham Building Society conveyancing panel but for all mortgage panels
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* |
|---|---|
| 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
