Find an Approved Solicitor on the New Life Mortgages Ltd
New Life Mortgages Solicitor Panel Example Support Desk Enquires
I am selling my apartment and the EA has just called to advise that the buyers are appointing a new solicitor. The reason given is that New Life Mortgages will only engage with solicitors on their conveyancing panel. Why would a leading mortgage company only engage with specific lawyers?
Mortgage companies have always had panels of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
can you help? My conveyancer is advising me that he has to order a Local Authority search as the firm are on the New Life Mortgages solicitor panel. The searches cost a lot of money. Can this be avoided?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with New Life Mortgages your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of New Life Mortgages’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated New Life Mortgages. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the New Life Mortgages conveyancing panel. My lawyer has said that they are on the New Life Mortgages approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the New Life Mortgages conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the New Life Mortgages solicitor panel.
My grandfather passed away last year and as sole heir and executor was left the house. The house had a relatively small loan left on it of around £8000. 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.
I have decided to exercise my right to buy my property off the council. I have a mortgage offer 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.
The for formalities of my remortgage has taken place with a mortgage from New Life Mortgages. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about New Life Mortgages. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the New Life Mortgages branches or the Customer Care Team at New Life Mortgages head office. Ordinarily complaints to New Life Mortgages are resolved very quickly. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service
who will take matters further.
I am due to exchange contracts on my house. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, New Life Mortgages are being a right pain. The solicitor who is on the New Life Mortgages conveyancing panel is saying indemnity insurance will be fine 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.