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NRAM Ltd Conveyancing Panel: Recently Asked Questions
My client is buying a detached house for £750k in Leeds requiring a mortgage advance over GBP 500k.
I am on the
NRAM Ltd conveyancing panel but do NRAM Ltd have a separate approved panel when a mortgage is above 350k?
We only know of two or three banks that operate a separate conveyancing panel where the mortgage advance is over a certain threshold.
You should nevertheless check directly with
NRAM Ltd. 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 NRAM Ltd
Given my firm’s membership on the NRAM Ltd conveyancing panel how long am I expected to keep hold of the complete conveyancing file?
The CML Part II requirements of
NRAM Ltd are silent on this. Most mortgage companies address the issue 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 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.
My practice have never been on the
NRAM Ltd conveyancing panel as well other lenders.
My clients, who are getting a mortgage with NRAM Ltd still want me to act for them even though I am not on the
NRAM Ltd panel. Is it fine for me to use a firm down the road to act for
NRAM Ltd on mortgage aspect of the conveyancing?
Please tread carefully here as what you are intending may not be acceptable to the mortgage company.
It is possible that you (as a non-panel firm) or the mortgage applicant are not at liberty instruct a panel firm of your choice. Many lenders make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender will appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer.
You also need to make the costs implications and potential for delay very clear to your client.
I noticed the following question on my PI renewal form this year ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the UK Finance Lenders’ Handbook?’ My firm is on the majority of lender panels including the
NRAM Ltd conveyancing panel. We have Terms and Conditions of appointment which we are duty bound to comply with. Am I supposed to mention these Conditions ?
The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations.
You have to try and take an objective view as to whether the Terms relating to the
NRAM Ltd conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before moving forward on this question.
My firm is on the
NRAM Ltd conveyancing panel. I am dealing with
NRAM Ltd mortgage on a purchase. My borrower client is asking not to disclose an issue to
NRAM Ltd. What do I do in this conflict situation?
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.
Will Conveyancing Quality Scheme membership guarantee my firm’s acceptance on to lenders conveyancing 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 approved list of conveyancing solicitors. Some Lenders now use the scheme as the starting point for Panel membership such as Santander.
I am on the
NRAM Ltd
conveyancing panel and scheduled to complete a remortgage shortly. My file does not contain a Legal Charge for the client to sign.
Who do I contact at NRAM Ltd to get a duplicate Deed?
You need to contact NRAM Ltd
to obtain standard documents. The The Council of Mortgage Lenders Handbook has an express section for banks to cite who to contact to obtain standard documents.
NRAM Ltd in their Part 2’s state:
Don’t forget to disclose the firm’s NRAM Ltd conveyancing panel reference.
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