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approved by Newbury Mortgage Services

Ready to buy a new home? Failing to check that a lawyer is on the Newbury Mortgage Services list of approved solicitors can put your transaction at risk of delay or failure.

Find an Approved Solicitor on the Newbury Mortgage Services Ltd Conveyancing Panel

Examples of recent questions relating to the Newbury Mortgage Services Solicitor Panel

I am in the process of selling my house and the EA has just e-mailed to advise that the buyers are appointing a new property lawyer. I am told that this is due to the fact that Newbury Mortgage Services will only work with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only deal with certain 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 Lloyds Banking Group, 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 by way of justification 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?. For no fault of my lawyer but, my purchase conveyancing has been going on for months. The Local Authority Search from Newbury Mortgage Services was dated random date and we have agreed a date for me to move into the property on 10 days inc Day of week eg. Mon. My lawyer informs me that as she is on the Newbury Mortgage Services conveyancing panel she needs to redo the searches as they are no longer acceptable to the lender.
One of the many conditions to being on the Newbury Mortgage Services approved panel is to comply with the CML Handbook requirements (last updated for this lender on Newbury Mortgage Services)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Newbury Mortgage Services.
I note that you have a post code search directory identifying law firms on the Newbury Mortgage Services conveyancing panel. Do firms pay you a commission if I instruct them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Newbury Mortgage Services conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am considering applying for a Newbury Mortgage Services mortgage for purchase of a newly converted (under development) with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Newbury Mortgage Services?
In theory, you could use a solicitor that is not on Newbury Mortgage Services conveyancing panel, but Newbury Mortgage Services would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
We expect to receive a DIP from Newbury Mortgage Services 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 Newbury Mortgage Services recommend a solicitor on the Newbury Mortgage Services conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Newbury Mortgage Services conveyancing panel. The solicitor represents both you and the Newbury Mortgage Services through the process.
My ex -wife’s name is on the Newbury Mortgage Services mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Newbury Mortgage Services mortgage in order to sell?
As regards the Newbury Mortgage Services mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Newbury Mortgage Services in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
Newbury Mortgage Services have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Newbury Mortgage Services or your broker and complete any relevant paperwork. Newbury Mortgage Services will tell you what documents they want. Newbury Mortgage Services will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Newbury Mortgage Services will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.