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.
Is it probable that Nottingham Building Society will instruct another solicitor on the Nottingham Building Society conveyancing panel for a further advance during the mortgage term ?
The BSA Mortgage Instructions applicable to a solicitor on the Nottingham Building Society conveyancing panel indicates that when a further advance is required for alterations or improvements to the property we will not normally instruct a member of the Nottingham Building Society conveyancing panel but if you are instructed the appropriate provisions of the BSA mortgage instruction must be adhered to .
Do the Building Society Association intend to launch a search tool with a view to list law firms on the Nottingham Building Society conveyancing panel ?
Lexsure has not been advised of any intention on the part of the BSA to promote such a search facility .
Are the Council of Licensed Conveyancers taking any action to ensure that licensed conveyancers remain on lender conveyancing panels?
The Council of Licensed Conveyancers has entered dialogue with banks 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 ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Nottingham Building Society since 2008 which is when lenders started being more restrictive
Are there conditions,outside the BSA Mortgage Instructions, that a firm should be aware of when on the Nottingham Building Society conveyancing panel?
In order to be on the Nottingham Building Society conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Nottingham Building Society) are as follows:
- To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds.)
- To be responsible for the reconstitution of the title deeds (whether the title is registered or unregistered, at your own cost), where any deeds in your possession, or were last known to be in your possession, go missing.
- To forward the title deeds and documents to another conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
- That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.
- To quote on all communications with us relating to deeds issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
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.
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
