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approved by Newbury Building Society

The most common options here are as follows:

1. Complete the purchase with your existing lawyers but Newbury Building Society will need to instruct a lawyer on the Newbury Building Society conveyancing panel. This will result in additional cost and potential delay.
2. Get a new solicitor to act in the purchase, obviously checking they are on the Newbury Building Society conveyancing panel.
3. Convince your lawyer to do everything within their powers to join the Newbury Building Society conveyancing panel

A precondition to being on the Newbury Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Newbury Building Society) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.

Unfortunately it’s not apparent why you need a Newbury Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Newbury Building Society to find out which solicitors in Newbury Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site

Assuming that you have an Estate Agent in the equation then let them know immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Newbury Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help

Lenders such as Newbury Building Society can revoke their mortgage offer although this rarely happens. In the unlikely event that Newbury Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a few examples:

• Newbury Building Society may amend or withdraw an offer if the Newbury Building Society conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied

• Many mortgage offers have an expiry date. Your lawyer should check this. Newbury Building Society may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.

• If the financial circumstances of the borrower have changed to the detriment and the Newbury Building Society has been notified

• Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.

• Where to proceed with the Mortgage offer would be unlawful

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Newbury Building Society conveyancing panel

A limited percentage of Hendon conveyancing practices are on the Newbury Building Society conveyancing panel. Click here to find a Hendon conveyancing firm on the on the Newbury Building Society panel.