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New Street Mortgages Conveyancing Panel: Recently Asked Questions
Are New Street Mortgages Conveyancing panel lawyers obliged to disclose incentives?
New Street Mortgages’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements
Do New Street Mortgages or the CML run professional training Courses for the
New Street Mortgages approved conveyancing panel in much the same way that the Law Society run cases for CQS firms?
The Council of Mortgage Lenders (or the BSA) do not involve themselves in training although they do host numerous general legal related conferences which are attended by firms on the New Street Mortgages conveyancing panel. We do intend to run specific lender focused seminars in the near future including a webinar on New Street Mortgages’s Part 2 requirements. Practitioners on the New Street Mortgages conveyancing panel are welcome. Information about the webinar will be made available as part of the LENDERmonitor P2 change Notifications.
An established client of mine is looking to purchase a property for £825k in Bristol requiring a mortgage advance over GBP 450,000.
I am on the
New Street Mortgages conveyancing panel but do New Street Mortgages have a separate approved panel when the advance is above 350k?
Lexsure only know of a couple of lenders that operate a distinct approved solicitors panel where the mortgage advance is over a certain threshold.
You should nevertheless check directly with
New Street Mortgages. At one stage HSBC would only allow Sole
practitioners to act for them where the mortgage was below
£150,000. We are not sure if HSBC still operate such a condition. In
your case it is best to check with New Street Mortgages
Are the Council of Licensed Conveyancers taking any action to ensure that licensed conveyancers remain on lender conveyancing panels?
As is the case with the Law Society the Council of Licensed Conveyancers has initiated dialogue with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as
New Street Mortgages in recent years.
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.
Our firm had their New Street Mortgages panel membership revoked but we have not yet been given an explanation yet.
I am completing a CQS application questionnaire what information should I put forward?
In the circumstances please clarify on the form what steps 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 informing you as to why they reached this decision?
Our practice is on the
New Street Mortgages
conveyancing panel and due to complete a remortgage within the next few weeks. My papers do not include a Legal Charge for the client to execute.
Who do I contact at New Street Mortgages to get a duplicate Deed?
You need to contact New Street Mortgages
to obtain standard documents. The CML Handbook incorporates an explicit inquiry for banks to establish who to contact to obtain standard documents.
New Street Mortgages in their Part 2’s state:
It is likely that you will need to quote the firm’s New Street Mortgages conveyancing panel number.
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* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [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
