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How does my firm apply to be on the New Street Mortgages Conveyancing Panel? How can my firm be reinstated onto the New Street Mortgages Conveyancing Panel?Find an Approved Solicitor on the New Street Mortgages Conveyancing Panel
New Street Mortgages Conveyancing Panel : Questions and Answers
I was advised recently by my mortgage broker that my lawyer is not on the New Street Mortgages Solicitor panel. What can I do to check?
The first thing you need to do is to contact your conveyancer. You lawyer should advise you what has happened. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for New Street Mortgages.
Can you help?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from New Street Mortgages was dated random date and we have agreed a date for me to move into the property on 6. My lawyer informs me that as she is on the New Street Mortgages conveyancing panel she needs to redo the searches as they are no longer valid.
One of the many conditions to being on the New Street Mortgages approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on New Street Mortgages)which states that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to New Street Mortgages.
I see that you have a search directory listing solicitors on the New Street Mortgages conveyancing panel. Do firms pay you a referral fee if I retain them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the New Street Mortgages conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am considering remortgaging my house does my lawyer need to be on the New Street Mortgages Solicitor panel?
There is nothing to stop you using your solicitor but New Street Mortgages will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Can you point me to a directory of New Street Mortgages panel conveyancers on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
We were going to get a DIP from New Street Mortgages this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the New Street Mortgages recommend a solicitor on the New Street 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 Street Mortgages conveyancing panel. The solicitor represents both you and the New Street Mortgages through the process.
For 5 years I had a mortgage with New Street Mortgages. My father has just retired and wants to pay off my mortgage. After New Street Mortgages is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the New Street Mortgages conveyancing panel? I do not intend to live at the property once the New Street Mortgages mortgage is discharged.
You
will need a solicitor but they need not be on the New Street Mortgages conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
Other Topics
Transfer of Equity for New Street MortgagesPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors