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Ready to buy a new home? Failing to check that a lawyer is on the New Life Mortgages list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the New Life Mortgages Ltd Conveyancing Panel? How can my firm be reinstated onto the New Life Mortgages Ltd Conveyancing Panel?Find an Approved Solicitor on the New Life Mortgages Ltd Conveyancing Panel
New Life Mortgages Conveyancing Panel : Questions and Answers
My Conveyancer has never been on on the New Life Mortgages Conveyancing Panel. Is it possible for me to use my preferred solicitor even though they are not on the New Life Mortgages list of approved lawyers?
You will need to have a conveyancer complete the legal work required when you take out a New Life Mortgages mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the New Life Mortgages conveyancing panel additional costs will be incurred as separate legal representation will be required by New Life Mortgages. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
Our god-son is in the process of securing a new build apartment with a mortgage from New Life Mortgages. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the New Life Mortgages conveyancing panel as a standard part of the process, and to the surveyor when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the New Life Mortgages conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am Googling for online conveyancing estimates. Can I be assured that all the firms that are identified on your site are on the New Life Mortgages conveyancing panel?
The law firms on our directory have advised us that they are on the New Life Mortgages panel and agreed to advise us to take down their listing in the event of removal off of the New Life Mortgages panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the New Life Mortgages conveyancing panel is not accurate.
I am considering applying for a New Life Mortgages mortgage for purchase of a newly converted (under development) with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for New Life Mortgages?
There is nothing to stop you using your solicitor but New Life Mortgages will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Do conveyancing lawyers on the New Life Mortgages conveyancing panel work on a no sale no fee basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to move forward? I plan to obtain a mortgage with New Life Mortgages. Is it possible to avoid using solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with New Life Mortgages involved you will need to appoint a solicitor on the New Life Mortgages conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to New Life Mortgages. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the New Life Mortgages conveyancing panel.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with New Life Mortgages. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with New Life Mortgages you will need to appoint a solicitor on the New Life Mortgages conveyancing panel.
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Transfer of Equity for New Life MortgagesPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors