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Q and A’s regarding the National Counties Building Society Conveyancing Panel
My husband and I are hoping to buy a 2 bedroom flat in Newcastle with a mortgage from National Counties Building Society. We would like to retain our lawyer but National Counties Building Society says he's not on their "panel". It seems we have little choice but to instruct one of the National Counties Building Society panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that National Counties Building Society use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the National Counties Building Society conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for National Counties Building Society
My fiance and I changing mortgage lender for our flat with National Counties Building Society. We have a son 19 who lives with us. The solicitor on the National Counties Building Society conveyancing panel requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this document specific to the National Counties Building Society conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your National Counties Building Society conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to National Counties Building Society .This is solely used to protect the National Counties Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of National Counties Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Do I need to pop into the offices of the National Counties Building Society conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in London
so that I can attend their offices if necessary.
Whereas this was necessary ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in London
.
We're in Wales, FTBs buying with a mortgage (lender is National Counties Building Society , but our lawyer is on the National Counties Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the National Counties Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. National Counties Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with National Counties Building Society your lawyer must to check the National Counties Building Society conveyancing instructions contained in the Part of CML Handbook for National Counties Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to National Counties Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
I am selling my flat. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, National Counties Building Society are being pedantic. The solicitor who is on the National Counties Building Society conveyancing panel is saying indemnity insurance will be fine but National Counties Building Society are insisting on a building regulation certificate. Why do National Counties Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that National Counties Building Society have referred the matter to their valuer. The reason why National Counties Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
Intending to buy a flat with a mortgage with National Counties Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the National Counties Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the National Counties Building Society conveyancing panel