National Westminster Bank Conveyancing Panel Information

The CML, along with National Westminster Bank and other stakeholders created a standard set of instructions where a solicitor is representing a lender such as National Westminster Bank alone in a residential conveyancing transaction. These obligations are contained at Part III of the UK Finance Lenders’ Handbook and are to be read in conjunction with Sections One and Two. The CML have published an example requirements letter to the borrower’s conveyancing solicitor for use by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel lawyer.

Lexsure only know of two or three lenders that operate a separate conveyancing panel where the mortgage advance is over a certain level. You should nevertheless check directly with National Westminster Bank. 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 National Westminster Bank

During 2013, 167 sections of the UK Finance Lenders’ Handbook P2 were changed by National Westminster Bank. Some changes are more important than others but as a firm on the National Westminster Bank conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 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: CML requirements are not guidelines; they are the lender client’s instructions.

When a solicitor is acting for both National Westminster Bank and borrower there is potential for conflicts to arise. You owe duties to both clients. All information received by you from your client is confidential and cannot be disclosed without the client’s consent. In the situation you find yourself in if the purchaser will not consent to the information being passed on to the lender the solicitor must cease to act for the National Westminster Bank and it may well be prudent you to cease to act for the purchaser as well. You can not tell the National Westminster Bank the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your National Westminster Bank conveyancing panel status.

CQS membership 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 approved list of conveyancing solicitors. A number of Lenders now use the Conveyancing Quality Scheme accreditation as the starting point for Panel approval such as HSBC.

You need to get in touch with National Westminster Bank to obtain standard documents. The The Council of Mortgage Lenders Handbook has an individual inquiry for lenders to reveal who to contact to obtain standard documents. National Westminster Bank in their Part 2’s state: You will need to quote your National Westminster Bank conveyancing panel reference.