The review will be led by general counsel Liz Kelly, who has developed Nationwide’s in-house legal function after being appointed in 2007. She set up an in-house training scheme while also formalising the building society’s panel arrangements.
In 2010 she led a review of its commercial lending panel, cutting the number of firms from 60 to 17 (22 October 2010). This came little more than six months after it cut 300 firms from its conveyancing roster.
A spokeswoman for the building society said a review of the general panel would begin early next year, although how this would be structured is yet to be decided.
She said: “Like any prudent business we’re in regular discussions with our panel partners to ensure a good working relationship and consistent service.
“We’ve had the current panel in place for the last three years and have taken the decision to undertake a review, which we expect to commence in early 2013.”