Newcastle Building Society Conveyancing Panel Information

• Where there is: -

o A cashback;

o An incentive;

o An indirect incentive;

o Where the sale is not at arms length for value to unconnected persons.

o Where there is a restriction or a right of pre-emption which is not at market value

o Where the Society‘s right to possession is fettered in some way.

o If we reasonably suspect that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;

o If we reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances.

o If the mortgage transaction does not complete within 3 months of the date of the offer.

o If the solicitor acting for the applicant, borrower, mortgagor or guarantor cannot comply with our instructions.

o If there is a material change in the circumstances of the applicant, borrower, mortgagor or guarantor between issue of the offer and prior to completion.

o If any of the terms of the mortgage offer cannot be satisfied.

o If for any reason an insurer is not prepared to agree satisfactory building insurance for the property being charged as security.

o If we have doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion.

In the first instance you must notify the Mortgage Operations Department, Newcastle Building Society, 1 Cobalt Park Way, Wallsend, NE28 9EJ and await further instructions before doing anything further on the file.