Looking for information about your firm's panel status?
Newbury Mortgage Services Solicitor Panel Assistance:
What are the Newbury Mortgage Services conveyancing panel arrangements?
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.
You must also comply with the terms and conditions of your Newbury Mortgage Services solicitor panel appointment.
An established client of mine is buying a semi detached house for
£740k in Newcastle with a mortgage over GBP 415k.
I am on the Newbury Mortgage Services conveyancing panel but do Newbury Mortgage Services have a separate approved panel when a mortgage is above 350k?
Lexsure only know of a couple of banks that operate a separate approved solicitors panel where the mortgage advance is over a certain level.
You should nevertheless check directly with Newbury Mortgage Services. 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
Newbury Mortgage Services
Are there conditions,outside the BSA Mortgage Instructions, that a firm should be aware of when on the Newbury Mortgage Services conveyancing panel?
In order to be on the Newbury Mortgage Services conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Newbury Mortgage Services) are as follows:
- To forward the title deeds and documents to another conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
- To notify us in writing of any change in your details as held on our records for example, change of address, telephone number, document exchange number email address. Notification must be given to us at least 10 days before the change will be effective.
- To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds.)
- To quote on all communications with us relating to registration issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
- You have the consent of all borrowers to apply for the deeds, before making any request for deeds. We will accept your request for deeds on the understanding that you have obtained such consent. If this is not the case then you should advise our Deeds Services Department in writing when you make your request
My practice have never been on the Newbury Mortgage Services solicitor panel as well other lenders . My clients, who are getting a mortgage with Newbury Mortgage Services would still like to instruct me even though I am not on the Newbury Mortgage Services panel. Is it fine for me to use a firm down the road to act for Newbury Mortgage Services on mortgage aspect of the conveyancing?
Please tread carefully here as what you are proposing may not be acceptable to the lender.
It is possible that you (as a non-panel firm) or the mortgage applicant are not at liberty instruct a panel firm of your choice. Lenders such as Nationwide BS make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender will appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer.
You also need to make the costs implications and potential for delay very clear to your client.
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 a number of approved panels including the Newbury Mortgage Services conveyancing panel. We have Terms and Conditions of appointment which we have to follow. Do I disclose these these Conditions?
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 Mortgage Services 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 completing the answer.
Lockton’s PII renewal form asks if my practice had been excluded from any bank panels in the last year . I recently found out that the practice is no longer on the Newbury Mortgage Services conveyancing panel? Is this likely to effect my PII premium?
Your insurance brokers are your best port of call to address this question.
The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Newbury Mortgage Services solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.
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 Mortgage Services Approved Conveyancing Solicitors Panel
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Average number of days to register title including a charge in favour of Newbury Mortgage Services
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 Mortgage Services Firms
- Draft Report on Title precedent for Newbury Mortgage Services borrowers
- Draft Anti Money Laundering PolicyTemplate for Newbury Mortgage Services panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Newbury Mortgage Services lender panel
- Buy-to-Let help for Newbury Mortgage Services
- Consent-to-Let help for Newbury Mortgage Services
- Contractor Mortgages with Newbury Mortgage Services
