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approved by New Life Mortgages
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.
Looking for information about your firm's panel status?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 Solicitor Panel Example Support Desk Enquires
We are hoping to buy a 1 bedroom flat in Newcastle with a mortgage from New Life Mortgages. We have a solicitor but New Life Mortgages says she’s not on their "panel". We have to appoint one of the New Life Mortgages panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that New Life Mortgages use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the New Life Mortgages conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for New Life Mortgages
We are getting closer to an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender New Life Mortgages. I am advised that, being on the New Life Mortgages conveyancing panel and acting on their behalf he must inform New Life Mortgages if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the home loan so is it really necessary for him to raise this?
Your lawyer is obliged to check with New Life Mortgages to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to New Life Mortgages if you agree, failing which, your lawyer must cease to continue acting.
How do I find a local solicitor on the New Life Mortgages conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the solicitor.
You can use the find a conveyancing panel tool on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the New Life Mortgages solicitor panel.
My aunt passed away six months ago and as sole heir and executor was left the house. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to New Life Mortgages , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then New Life Mortgages will insist on your using a conveyancer on the New Life Mortgages conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your New Life Mortgages conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the New Life Mortgages mortgage is registered as a charge at the Land Registry.
When it comes to lenders such as New Life Mortgages do solicitors have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender New Life Mortgages be concerned
As you are obtaining a mortgage with New Life Mortgages your lawyer must to check the New Life Mortgages conveyancing instructions contained in the Part of CML Handbook for New Life Mortgages . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to New Life Mortgages where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
We expect to receive a DIP from New Life Mortgages this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the New Life Mortgages recommend a solicitor on the New Life Mortgages conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the New Life Mortgages conveyancing panel. The solicitor represents both you and the New Life Mortgages through the process.