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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.
Looking for information about your firm's panel status?
How does my firm apply to be on the Newbury Building Society Conveyancing Panel? How can my firm be reinstated onto the Newbury Building Society Conveyancing Panel?Find an Approved Solicitor on the Newbury Building Society Conveyancing Panel
Common questions asked concerning the Newbury Building Society Conveyancing Panel
I instructed a firm of solicitors to work on my house purchase 5 weeks ago having applied for a mortgage with Newbury Building Society. The firm reassured me that they are on Newbury Building Society conveyancing panel and advised me their panel reference. Newbury Building Society then ,via my broker advised that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm currently on the conveyancing panel for Newbury Building Society?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the Newbury Building Society as to how long they think it will take to get the firm to get back on the panel.
Our lawyer has informed me that he requires identification documents stating that this forms part of his legal duty as a solicitor on the Newbury Building Society Conveyancing panel. Is this right?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that Newbury Building Society also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Newbury Building Society CML Handbook requirements last updated on Newbury Building Society
I note that you have a post code search directory listing law firms on the Newbury Building Society conveyancing panel. Do firms pay you a commission if I appoint them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Newbury Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
We're in Birmingham, FTBs buying with a mortgage (lender is Newbury Building Society , but our solicitor 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 conveyancing solicitors on the Newbury Building Society conveyancing panel work on a no sale no fee basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
Do the majority of lenders 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.
I have instructed a lawyer having checked that they are on the Newbury Building Society conveyancing panel. Does my lawyer arrange the survey of the property?
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Having read lots of house buying,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Newbury Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Newbury Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Newbury Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Newbury Building Society you could contact your them to see if they have a list of approved surveyors.