NRAM Ltd Conveyancing Panel Information

We are not aware of any intention on the part of the CML to develop such a search facility.

Each lender has different criteria. We do not hold specific requirements relating to the questions raised as part of the application to be on the NRAM Ltd conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

PII Cover details, including, if relevant, whether the firm is or has been in the assigned risks pool and structure of cover – basic

Details of any accreditation e.g. Lexcel or

Full disciplinary history for each conveyancing solicitor

Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.

Full complaints history for each conveyancing solicitor

List of all those who fund the firm, including non-lawyers if applicable

List of all those who can sign off the Certificate Of Title

conveyancer client account(s) details

Number of lender conveyancing panels the firm is currently on

House price discrepancies (declared to lender vs. registered at Land Registry)

You might expect NRAM Ltd via their Part 2 conditions to address this but the Handbook is silent on time frames. Do look at the Terms of NRAM Ltd’s Conveyancing Panel Appointment that you are bound by. For many lender's these Terms include a provision such as: ‘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 updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

When a solicitor is acting for both NRAM Ltd 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 NRAM Ltd and it may well be prudent you to cease to act for the purchaser as well. You can not tell the NRAM Ltd 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 NRAM Ltd conveyancing panel status.

The Law Society’s 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. Some mortgage companies now use CQS as the starting point for Panel membership as is the case with Santander.

You would be advised to contact NRAM Ltd to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an explicit question for banks to establish who to contact to obtain standard documents. NRAM Ltd in their Part 2’s state: You will need to disclose your NRAM Ltd conveyancing panel number.