NRAM Ltd Conveyancing Panel Information

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

The Scottish Law Society has suggested that solicitors should check their lender panel status before accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the NRAM Ltd conveyancing panel. The recommendation arises from the practice of a number of mortgage lenders who remove solicitors from their panels without prior notice as part of their panel management system, which can lead to some solicitors discovering this only once instructed. This is sensible advice as a client finding out midway through a transaction that their lawyer is not on the approved lender panel is very frustrating and can lead to complaints. Many online consumer forums contain posts where someone is complaining about finding that their lawyer is not on a lender conveyancing panel. Such forums include moneysavingexpert.com

The CML Part II requirements of NRAM Ltd are silent on this. Most mortgage companies deal with 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 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.

As is the case with the Law Society the CLC has entered dialogue with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. It is likely that that the CLC have been in touch with lenders such as NRAM Ltd in the recent past.

The Law Society’s CQS accreditation gives no guarantee to lender panel acceptance. Nevertheless the Council of Mortgage Lenders have indicated that it is likely to become a prerequisite for firms wishing to join their approved list of conveyancing solicitors. A number of mortgage companies now use CQS as the starting point for Panel acceptance as is the case with Astra Mortgages.

You should get in touch with NRAM Ltd to obtain standard documents. The The Council of Mortgage Lenders Handbook has an individual question for banks to reveal who to contact to obtain standard documents. NRAM Ltd in their Part 2’s state: You will need to quote the firm’s NRAM Ltd solicitors panel reference.