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NRAM Ltd Conveyancing Panel: Recently Asked Questions
Does the fact that my firm subscribes to Alerts via this site assist in my application to join the NRAM Ltd conveyancing panel?
The requirements to join the NRAM Ltd conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
Is there a standard appeals process to prevent solicitors from being unfairly removed them from lender conveyancing panels?
We have come across many solicitors who feel they have been removed from lenders’ panels without an explanation or a good
reason. It is highly unlikely, given that lenders have distanced
themselves from creating a standardised appeals process for
brokers, that an appeals process will be introduced for
lawyers. Commenting on the call by brokers to have a standardised
process the CML said’ “While we understand that some lenders do have
an appeals process, it would not be appropriate for a trade body such
as the CML to seek to be prescriptive about such a process.” Some
lenders do of course set out an appeals policy. The Law Society does
have information on it’s site that may be of assistance. If you would
like to talk to one of our compliance experts about our Lender Panel
Protection Service please contact us.
Being on the NRAM Ltd conveyancing panel how long am I expected to archive the complete conveyancing file?
The CML Part II requirements of
NRAM Ltd are silent on this. Most lenders address the issue of file retention via their Terms of panel appointment where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 years from the date of the mortgage. Data imagining is normally
suitable compliance with this requirement. Many lenders point out in
that it is the practice of some fraudsters to demand the conveyancing
file on completion in order to destroy evidence that may later be
used against them. It is therefore important to retain these
documents to protect NRAM Ltd’s interest. To be
absolutely sure of NRAM Ltd requirements in this regard
please check the Terms and Conditions of NRAM Ltd’s
conveyancing panel membership.
It is possible that NRAM Ltd could request or audit my files as I am on the
NRAM Ltd conveyancing panel. Are there any confidentiality issues that I need to consider first?
We can't comment specifically on
NRAM Ltd. Many major lenders are now introducing ‘file auditing’ as standard practice in relation to completed matters. This raises questions of confidentiality in relation to the buyer client and the purpose to which the results of such audits will be put. The starting point is to remember that the file does not belong to your firm, it belongs to the ‘client’. But, of course, we will normally have two clients – the buyer and the lender - and you will owe a duty of confidentiality to each. So basically, you have to separate the file and just send the lender the parts solely relating to themselves. But, of course, as this will basically be correspondence with the lender, mortgage instructions etc.
Check with your COLP but a firm should not send the complete conveyancing file without the buyer client’s express consent – and if he is in arrears with the lender she is hardly likely to agree. However, if the lender can establish a prima facie case of fraud, then you may be under an obligation to disclose the whole file.
The emerging convention is that lenders are including an authority to disclose in loan application forms to counter this problem. Mortgage Express v Sawali, [2010] EWHC 3054 (Ch) indicates that such provisions are valid. Please click here for more information about that case.
Does my firm face being suspended off the
NRAM Ltd conveyancing panel if I have not sent the title deed on a purchase within a certain time frame from draw-down of funds?
You might expect
NRAM Ltd via their Part 2 obligations to address this but the Handbook is silent on deadlines to send deeds. You need to look at the Terms of
NRAM Ltd’s Conveyancing Panel Appointment that you are bound by. For a number of banks these Terms contain a clause along the following lines:
‘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’ It is important to keep
NRAM Ltd informed.
Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.
If my application is successful will Conveyancing Quality Scheme membership guarantee my firm’s acceptance on to lenders conveyancing panels?
CQS accreditation gives no guarantee to lender panel acceptance. Nevertheless the Council of Mortgage Lenders have indicated that it is likely to become a prerequisite for firms wishing to remain on their panels. Some mortgage companies now use CQS as the starting point for Panel acceptance as is the case with Astra Mortgages.
My firm is listed on the
NRAM Ltd
conveyancing panel and all set to complete a remortgage within the next few weeks. I dont have a Legal Charge for the client to sign.
Who do I contact at NRAM Ltd to request substitute deeds?
You would be advised to get in touch with NRAM Ltd
to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an explicit section for banks to set out who to contact to obtain standard documents.
NRAM Ltd in their Part 2’s state:
It is likely that you will need to disclose the firm’s NRAM Ltd solicitors panel number.
Find a Lawyer on the NRAM Ltd Conveyancing Panel
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Average number of days to register title including a charge in favour of NRAM Ltd
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 NRAM Ltd Firms
- Draft Report on Title precedent for NRAM Ltd borrowers
- Draft Anti Money Laundering PolicyTemplate for NRAM Ltd panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the NRAM Ltd lender panel
- Buy-to-Let help for NRAM Ltd
- Consent-to-Let help for NRAM Ltd
- Contractor Mortgages with NRAM Ltd
