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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.

Find an Approved Solicitor on the New Life Mortgages Ltd Conveyancing Panel

New Life Mortgages Conveyancing Panel Recently Asked Questions

On what basis could a firm of solicitors be excluded from the New Life Mortgages solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been removed from a lender panel. The top reasons in order are :
  1. lack of transactions
  2. the lawyer is a sole practitioner
  3. as part of the HSBC panel reduction
  4. regulatory contact by SRA
  5. accidental removal. We are not aware of the specific or common criteria for removal by New Life Mortgages
I am due to complete my purchase next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in has capacity as lawyer for New Life Mortgages. What risks do New Life Mortgages expect the insurance to cover?
Any lawyer on the New Life Mortgages conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in New Life Mortgages’s Part 2 requirements of the CML Handbook (last updated on New Life Mortgages). Being on the New Life Mortgages conveyancing panel your lawyer is expect to follow these requirements.
Your search tool is useful but there are many lawyers listed near Hackney on the New Life Mortgages conveyancing panel. Can you recommend a specific firm on the conveyancing panel for New Life Mortgages ?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I am purchasing a right to buy flat and getting a mortgage with New Life Mortgages. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the New Life Mortgages conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the New Life Mortgages conveyancing panel in your location.
We have a mortgage agreed in principle with New Life Mortgages. Solicitors have been chosen? What is the average time that one could expect to receive a mortgage offer from New Life Mortgages?
There is no definitive answer here. Have New Life Mortgages completed the survey? Have you advised New Life Mortgages as your lawyers details and checked that your lawyer is on the New Life Mortgages conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
I am selling my flat. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, New Life Mortgages are being problematic. The solicitor who is on the New Life Mortgages conveyancing panel is happy to accept ‘lack of building regulation’ insurance but New Life Mortgages are requiring a building regulation certificate. Why do New Life Mortgages have a conveyancing panel of they don’t accept advice from them?
It is probably the case that New Life Mortgages have referred the matter to their valuer. The reason why New Life Mortgages may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
New Life Mortgages have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up New Life Mortgages or your broker and complete any relevant paperwork. New Life Mortgages will tell you what documents they want. New Life Mortgages will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. New Life Mortgages will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.