Looking for information about your firm's panel status?
Newbury Building Society Solicitor Panel Assistance:
What are the Newbury Building Society conveyancing panel criteria?
Unlike the CML the Building Society Mortgage Instructions deal with this. Section A.12 states ‘In order to act on our behalf your firm or company must be a member of our conveyancing panel provided we are a society that operates one – see specific requirements for details of our arrangements.
The Special Requirements state:
The Society operates a panel of conveyancers. Acceptance to the panel is subject to application and the following requirements:
• Firm must have at least four qualifying partners.
• Current registration with SRA / CLC.
• Professional Indemnity Insurance with minimum £2m cover.
• For solicitors, CQS accreditation
• All firms must have been practicing for a minimum of 5 years.
Firms that are set up as Alternative Business Structures are accepted if the underlying legal practice has been in existence at least 5 years and meets the above requirements.
Conveyancers that are not on the panel will be invited on receipt of a mortgage application where the client proposes them to act.
For commercial applications the lender will instruct their own solicitor (separate legal representation).
Contact Newbury Building Society’s Mortgage Underwriting Team 01635 555700, for an application.
You must also comply with the terms and conditions of your Newbury Building Society solicitor panel appointment.
Are Newbury Building Society Conveyancing panel solicitors exposed to the possibility of the society altering or retracting the loan offer?
Newbury Building Society ‘s answer to this question can be found at section B.3 of their BSA specific requirements which states:
Where an incentive or relevant legal matter has not been disclosed to the valuer / lender prior to offer and has a material effect on the property’s value.
Can my practice register a complaint to the BSA about being removed excluded suspended from the Newbury Building Society conveyancing panel?
The BSA is an association rather than a regulator and therefore do not investigate complaints against lenders. You can of course contact us to see if we can assist.
Is it conceivable that Newbury Building Society will appoint another lawyer on the Newbury Building Society solicitor panel for a further advance during the mortgage term ?
The BSA Mortgage Instructions relevant to a solicitor on the Newbury Building Society conveyancing panel indicates that when a further advance is required for alterations or improvements to the property we will not normally instruct a member of the Newbury Building Society conveyancing panel but if you are instructed the appropriate provisions of the BSA mortgage instruction will need to be followed .
I am hearing that agents are using online checkers to see if a firm is on a lender panel. Why?
Many estate agents are feeling the pain if their clients start out on the conveyancing process having appointed a solicitor who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors lawyers.
I noticed the following question on my PI renewal form this year ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the BSA Mortgage Instructions?’ My firm is on numerous lender panels including the Newbury Building Society conveyancing panel. We have Terms and Conditions of appointment which we have to follow. Do I disclose these these Terms?
The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations.
You have to try and take an objective view as to whether the Terms relating to the Newbury Building Society conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the BSA Mortgage Instructions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before moving forward on this question.
Can the BSA assist me in an appeal having not been accepted onto the Newbury Building Society conveyancing panel?
If you have not been accepted or indeed been removed from the Newbury Building Society conveyancing panel then the BSA will not have any part to play in influencing Newbury Building Society in changing their mind. Please contact us here at Lexsure so that we can put you in touch with a consultant who may be able to assist. At the very least it’s worth a call to us.
What lender panels do you receive the most questions about?
BSA lenders do not come within the top 20 lenders in terms of
frequency of questions. The most popular lender panels in terms of
questions are as follows:
Find a Lawyer on the Newbury Building Society Approved Conveyancing Solicitors Panel
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Average number of days to register title including a charge in favour of Newbury Building Society
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 Newbury Building Society Firms
- Draft Report on Title precedent for Newbury Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Newbury Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Newbury Building Society lender panel
- Buy-to-Let help for Newbury Building Society
- Consent-to-Let help for Newbury Building Society
- Contractor Mortgages with Newbury Building Society
