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New Street Mortgages Solicitor Panel: Recently Asked Questions
What sort of information are Lenders such as
New Street Mortgages are asking for when it comes to applying to be on their approved conveyancing panel?
Each lender has different criteria.
We do not hold specific requirements relating to the questions raised as part of the application to be on the
New Street Mortgages conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):
Whether any lender has ever made a claim against the firm’s PII cover
Firm name, address and contact details including all branches (including evidence of existence through risk-based physical visits and Google Streetview checks)
Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.
Whether the firm has ever applied for accreditation and the outcome of the application
Charge registration history
Structure of firm and, where applicable, its group
Full complaints history for each conveyancing solicitor
Whether the firm has ever accepted instructions in respect of property clubs and investment schemes
Number of partners per branch of the firm
Number of lender conveyancing panels the firm is currently on
Can you give me an example of some of the reports available via COMPLETIONmonitor to support my appeal to be reinstated on the New Street Mortgages solicitor panel?
There are many reports available, five of which are as follows:
- The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)
- Average mortgage advance
- Average time frame to register charges at the Land Registry
- Average time frame to send deeds to the lender (calculated from completion date or title registration)
- Disclosure/Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data
I recently attended a seminar arranged via my PI broker where it was mentioned that solicitors are being sued for non-compliance with UK Finance PII obligations . I am on the
New Street Mortgages conveyancing panel can you tell me how Part 2 changes took place by
New Street Mortgages during 2013?
During 2013, 0 sections of the UK Finance Lenders’ Handbook P2 were changed by
New Street Mortgages. Some changes are more important than others but as a firm on the
New Street Mortgages conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.
Remember: UK Finance requirements are not guidelines; they are the lender client’s instructions.
My conveyancing assistant has resigned on short notice.
I urgently need to prioritise making sure that charges are registered. That said, how quickly do I need to send deeds to
New Street Mortgages once the charge is registered before my firm runs the risk of being suspended off the conveyancing panel for New Street Mortgages?
New Street Mortgages will likely expect the deeds to be sent to them within 10 days of you receiving the TID (unless their specific P2 requirements specifically state that they you are not to send them anything). Most COTs refer to complying with the Certificate of Title referred to in IB (3.7) of the SRA Code of Conduct 2011, published by the Law Society which states that you ‘will despatch to you such deeds and documents relating to the Property as you require with a list of them in the form prescribed by you within ten working days of receipt by us of the title information document from the Land Registry’ As to whether the lender will suspend your panel status this very much varies according to the lender’s own internal policies The more cases you have the more risk you face. Some lenders may take action if there records show that the deeds are outstanding for more than 3 matters. The fact is that if you keep within the time frame then you will have more chance of remaining on the
New Street Mortgages conveyancing panel.
We are a 3-partner firm on the New Street Mortgages conveyancing panel. How can we advertise our firm as specialists in conveyancing in Hendon on the New Street Mortgages panel?
8 people attempt to locate a property lawyer on the New Street Mortgages panel every 4 weeks in Hendon. Feel free to contact the Lexsure team who will tell how your firm can be listed by those searching for conveyancing in Hendon.
Our firm had their New Street Mortgages panel membership suspended but we have not yet been given a reason as to why.
I am completing a CQS application questionnaire what details must I put forward?
In the circumstances please explain on the form what action you have taken to find out the reasons behind cancellation of your
New Street Mortgages panel status.
In particular please provide details if you have received communications from the lender. E.G. before cessation of your panel membership did you receive any letters or calls from the lender putting you on notice?
My firm is listed on the
New Street Mortgages
conveyancing panel and scheduled to complete a purchase within the next few weeks. I dont have a Legal Charge for the client to execute.
Who do I contact at New Street Mortgages to obtain duplicate documents?
You need to communicate with New Street Mortgages
to obtain standard documents. The The Council of Mortgage Lenders Handbook has an individual section for banks to establish who to contact to obtain standard documents.
New Street Mortgages in their Part 2’s state:
Always remember to quote the firm’s New Street Mortgages solicitors panel reference.
Find a Lawyer on the New Street Mortgages Conveyancing Panel
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Average number of days to register title including a charge in favour of New Street Mortgages
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2026 | [no data] |
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited New Street Mortgages Firms
- Draft Report on Title precedent for New Street Mortgages borrowers
- Draft Anti Money Laundering PolicyTemplate for New Street Mortgages panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the New Street Mortgages lender panel
- Buy-to-Let help for New Street Mortgages
- Consent-to-Let help for New Street Mortgages
- Contractor Mortgages with New Street Mortgages
