Following a strategic review in December of last year, Nationwide merged its compliance and legal functions with the intention of increasing the use of in-house paralegals and junior lawyers, reports Legal Week.

Regular discussions

The current panel includes Allen & Overy, Eversheds, Burges Salmon, Olswang and Nabarro and it is unclear whether the building society will be making cuts. Nationwide recently cut back on its commercial lending panel, bringing the number of advisers down from 60 to 17 in October 2010. Addleshaw Goddard, DLA Piper, LG and Reed Smith were added to the panel, joining Burges Salmon, Nabarro, Olswang and Eversheds among others.
‘We’ve had the current panel in place for the last three years and have taken the decision to undertake a review,’ said a Nationwide spokeswoman. ‘Like any prudent business we’re in regular discussions with our panel partners to ensure a good working relationship and consistent service.’