Looking for information about your firm's panel status?
Nottingham Building Society Conveyancing Panel Information:
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.
Is it probable that Nottingham Building Society will select another firm on the Nottingham Building Society lender panel for a further advance during the lifetime of a mortgage ?
The Building Society Association Mortgage Instructions relevant 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 followed .
My client is purchasing a semi detached house for
£825k in Kenton with a mortgage over GBP 525k.
I am on the Nottingham Building Society conveyancing panel but do Nottingham Building Society have a separate approved panel when a mortgage is above 350k?
Lexsure only know of a couple of lenders that operate a distinct conveyancing panel where the mortgage advance is over a certain amount.
You should nevertheless check directly with Nottingham Building Society. 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
Nottingham Building Society
Given my firm’s membership on the Nottingham Building Society conveyancing panel for what period of time am I expected to keep hold of the original 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.
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:
- Without prejudice to your obligation to comply in full with the Safeguards provisions in the BSA Lenders’ Handbook, to report to us as soon as possible any suspicion that you have about the genuineness of any transaction in any respect.
- 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 forward the title deeds and documents to another solicitor 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.
- If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.
- To quote on all communications with us relating to registration 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.
Who do building societies allow to be on their approved solicitor panel?
In the same way that there is a unique Nottingham 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.
I have been a sole practitioner for over 35 years enjoy an unblemished record 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.
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
