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Ready to buy a new home? Failing to check that a lawyer is on the Nottingham 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 Nottingham Building Society Conveyancing Panel? How can my firm be reinstated onto the Nottingham Building Society Conveyancing Panel?Find an Approved Solicitor on the Nottingham Building Society Conveyancing Panel
Frequently asked questions relating to the Nottingham Building Society Solicitor Panel
My property lawyer is not on the Nottingham Building Society Approved Panel. Is it possible for me to retain my preferred solicitor notwithstanding that they are excluded from the Nottingham Building Society panel of approved conveyancing solicitors?
You will need to have a conveyancer complete the legal work required when you take out a Nottingham Building Society mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Nottingham Building Society conveyancing panel additional costs will be incurred as separate legal representation will be required by Nottingham Building Society. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
Our solicitor has identified a problem with the lease for the property we are purchasing. The other side have offered defective title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor has advised that as he is on the Nottingham Building Society conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is Nottingham Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Nottingham Building Society are the client. A precondition to being on the Nottingham Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Nottingham Building Society). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Nottingham Building Society can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Whilst your website is a good idea there are many lawyers listed near Chelsea on the Nottingham Building Society conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Nottingham 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..
My aunt passed away last year and as sole heir and executor was left the property. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Nottingham Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Nottingham Building Society will insist on your using a conveyancer on the Nottingham Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nottingham Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nottingham Building Society mortgage is registered as a charge at the Land Registry.
When it comes to mortgage companies such as Nottingham Building Society do solicitors have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I previously instructed online solicitors based in Birmingham who are on the Nottingham Building Society solicitor panel. They are now charging me a separate fee of £175 for dealing with the Nottingham Building Society mortgage. Is this a supplemental conveyancing fee specified by Nottingham Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Nottingham Building Society but by your lawyers. Some firms on the Nottingham Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
Completion of my remortgage has taken place with a loan from Nottingham Building Society. Conveyancing was of an acceptable standard but I would like to complain about Nottingham Building Society. How does one go about formally complaining?
Most lenders have complaints procedures. Your first port of call should be one of the Nottingham Building Society branches or the Customer Care Department at Nottingham Building Society head office. Ordinarily complaints to Nottingham Building Society are resolved very quickly. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.