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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.
Looking for information about your firm's panel status?How does my firm apply to be on the Newbury Mortgage Services Ltd Conveyancing Panel? How can my firm be reinstated onto the Newbury Mortgage Services Ltd Conveyancing Panel?
Find an Approved Solicitor on the Newbury Mortgage Services Ltd Conveyancing Panel
FAQs : The Newbury Mortgage Services Solicitor Panel
Is the fact that my conveyancer is not isted on the Newbury Mortgage Services Solicitor panel that there is a problem with the quality of the firm’s work?
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 most common reasons for removal are: (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 Mortgage Services.
I am purchasing a new build apartment and my lawyer is telling me that she has to disclose incentives from the builder as her firm is on the Newbury Mortgage Services conveyancing panel. The Estate Agents are hassling me to exchange and my preference is not to prolong deal. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition 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). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are the lawyers identified as being on the Newbury Mortgage Services conveyancing panel, together with their details provided by Newbury Mortgage Services?
The firms themselves provide us confirmation that they are on the Newbury Mortgage Services conveyancing panel as opposed to being supplied with a list from Newbury Mortgage Services directly.
I was due to complete on my flat two days ago. My solicitor is on the Newbury Mortgage Services conveyancing panel but has changed address 8 weeks ago and had not informed Newbury Mortgage Services of their new address. Newbury Mortgage Services is now refusing to release my funds as the information from the solicitors isn't correct.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Newbury Mortgage Services branch or your mortgage broker to see if they can help.
My wife and I have arranged a further advance on our mortgage from Newbury Mortgage Services as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Newbury Mortgage Services conveyancing panel to deal with the paperwork?
Newbury Mortgage Services would not normally appoint firms on their approved list of lawyers 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 Mortgage Services panel
Planning on purchasing a flat with a mortgage with Newbury Mortgage Services. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Newbury Mortgage Services conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
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 Mortgage Services conveyancing panel
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Newbury Mortgage Services?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Newbury Mortgage Services conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Newbury Mortgage Services and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.