Find a Law Firm approved by Newbury Building Society
Ready to buy a new home? Failing to check that a lawyer is on the Newbury Building Society list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Newbury Building Society
Conveyancing Panel
Newbury Building Society Conveyancing Panel : Questions and Answers
Is the fact that my conveyancer is not isted on the Newbury Building Society Conveyancing panel that there is a problem with the quality of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (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. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Newbury Building Society.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Newbury Building Society will not agree to this. Why was Newbury Building Society even consulted?
Your lawyer being on the Newbury Building Society conveyancing panel is duty bound to inform Newbury Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Newbury Building Society then they would have to discontinue acting for you and Newbury Building Society.
Is it necessary during the course of the conveyancing process to visit the offices of the Newbury Building Society conveyancing panel solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Leeds
so that I can pop in to their offices when needed.
Most conveyancing panel lawyers for Newbury Building Society undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
We're in Birmingham, FTBs purchasing with a mortgage (lender is Newbury Building Society , but our lawyer is on the Newbury Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Newbury Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Newbury Building Society conveyancing panel requirements are different to Newbury Building Society’s conveyancing panel requirements.
My wife and I have arranged a further advance on our mortgage from Newbury Building Society as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Newbury Building Society conveyancing panel to deal with the legals?
Newbury Building Society do not ordinarily instruct a member of their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Newbury Building Society list
I am currently in the process of buying my council flat. I have a mortgage agreed with Newbury Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 Newbury Building Society you will need to appoint a solicitor on the Newbury Building Society conveyancing panel.