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Nottingham Building Society Solicitor Panel Recently Asked Questions
My wife and I are novices when it comes to buying a property. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Nottingham Building Society have this evening contacted us to advise us that there is now an issue as our lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitors should contact Nottingham Building Society and see if they can apply for membership of the Nottingham Building Society conveyancing panel, but if that is not viable Nottingham Building Society will instruct their own lawyers to represent them. You don't have to instruct a firm on the Nottingham Building Society conveyancing panel as you are at liberty to use your preferred lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
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 Nottingham Building Society will not agree to this. Why was Nottingham Building Society even consulted?
Your lawyer being on the Nottingham Building Society conveyancing panel is duty bound to inform Nottingham Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Nottingham Building Society then they would have to discontinue acting for you and Nottingham Building Society.
Are there any apps to help search for a local solicitor on the Nottingham Building Society conveyancing panel? I have a car and am prepared to travel up to 20 miles to meet the lawyer.
Feel free to make use of the find a conveyancing panel tool on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Nottingham Building Society solicitor panel.
My lawyers in Newcastle have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with Nottingham Building Society. Is it case that being on the Nottingham Building Society conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Nottingham Building Society Conveyancing Panel Terms. It might be worth you contacting Nottingham Building Society directly.
We were going to get a DIP from Nottingham Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Nottingham Building Society recommend a solicitor on the Nottingham Building Society conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Nottingham Building Society conveyancing panel. The solicitor represents both you and the Nottingham Building Society through the process.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Nottingham Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Nottingham Building Society you will need to appoint a solicitor on the Nottingham Building Society conveyancing panel.
My ex -wife’s name is on the Nottingham 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 Nottingham Building Society mortgage in order to sell?
In terms of the Nottingham 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 Nottingham 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.