National Counties Building Society Conveyancing Panel Information

The CML Part II requirements of National Counties Building Society are silent on this. Most lenders address the question of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for a minimum six 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 National Counties Building Society’s interest. To be absolutely sure of National Counties Building Society requirements in this regard please check the Terms and Conditions of National Counties Building Society’s conveyancing panel membership.

Most lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with National Counties Building Society as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from National Counties Building Society we suggest that you call National Counties Building Society to check the position.

In the same way that there is a unique National Counties Building Society conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

With lenders and solicitors working so closely with one another it is surprising that there has not been greater demand for the introduction of a bit of transparency regarding not just the figures for the National Counties Building Society conveyancing panel but for all bank panels

CQS accreditation is no guarantee to lender panel acceptance. Nevertheless the CML have indicated that it is likely to become a prerequisite for firms wishing to join their panels. A number of Lenders now use the scheme as the starting point for Panel approval as is the case with Santander.

You should communicate with National Counties Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an individual question for lenders to reveal who to contact to obtain standard documents. National Counties Building Society in their Part 2’s state: You will need to disclose your National Counties Building Society conveyancing panel reference.