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Ready to buy a new home? Failing to check that a lawyer is on the National BS list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the National Counties Building Society Conveyancing Panel? How can my firm be reinstated onto the National Counties Building Society Conveyancing Panel?Find an Approved Solicitor on the National Counties Building Society Conveyancing Panel
Q and A’s regarding the National Counties Building Society Solicitor Panel
I am in the process of selling my flat and the EA has just called to say that the buyers are switching conveyancer. I am told that this is due to the fact that National Counties Building Society will only engage with property lawyers on their approved list. Why would a big named mortgage company only deal with certain lawyers?
UK lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company National Counties Building Society will not agree to this. Why was National Counties Building Society even consulted?
Your lawyer being on the National Counties Building Society conveyancing panel is duty bound to inform National Counties Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to National Counties Building Society then they would have to discontinue acting for you and National Counties Building Society.
Your search tool is useful but there are many lawyers listed near Chelsea on the National Counties Building Society conveyancing panel. Can you recommend a specific firm on the National Counties Building Society approved panel?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I was scheduled to move into my flat two days ago. My lawyer’s firm is on the National Counties Building Society conveyancing panel but has moved offices 8 weeks ago and had not informed National Counties Building Society of their new address. National Counties Building Society is now refusing to release my funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local National Counties Building Society branch or your mortgage broker to see if they can help.
After much negotiation I have agreed a price on an apartment. My financial adviser recommended their conveyancers I paid an upfront payment of 150. Soon after the conveyancers contacted me sheepishly admitting that they were not on the National Counties Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the National Counties Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My ex -wife’s name is on the National Counties Building Society mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the National Counties Building Society mortgage in order to sell?
In terms of the National Counties Building Society mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of National Counties Building Society in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
Next month my fiance and I are purchasing a house in Hendon. Conveyancing solicitors in Hendon are preferred to beinstructed. My friendrecommended that we make sure that the conveyancing practitioner in Hendon is on the National Counties Building Society list of approved conveyancing firms. Surely I don't need to do this, do I?
Far from all Hendon conveyancing firms are on the National Counties Building Society conveyancing panel. 7 people a month use our search tool to search for a Hendon conveyancing practitioner on the on the National Counties Building Society approved list of lawyers.