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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

Common questions asked concerning the Newbury Mortgage Services Conveyancing Panel

My husband and I are hoping to buy a 3 bedroom apartment in Newcastle with a mortgage from Newbury Mortgage Services. We have a lawyer but Newbury Mortgage Services says she’s not on their "panel". It seems we have little choice but to instruct one of the Newbury Mortgage Services panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Newbury Mortgage Services use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Newbury Mortgage Services conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Newbury Mortgage Services
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 Mortgage Services will not agree to this. Why was Newbury Mortgage Services even consulted?
Your lawyer being on the Newbury Mortgage Services conveyancing panel is duty bound to inform Newbury Mortgage Services of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Newbury Mortgage Services then they would have to discontinue acting for you and Newbury Mortgage Services.
Do I have to attend the offices of the Newbury Mortgage Services conveyancing panel solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Newcastle so that I can pop in to their offices if required.
Most conveyancing panel lawyers for Newbury Mortgage Services 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.
My solicitors in Manchester have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Newbury Mortgage Services. Is it case that being on the Newbury Mortgage Services conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Newbury Mortgage Services Conveyancing Panel Terms. It might be worth you contacting Newbury Mortgage Services directly.
I'm at the point of viewing apartments and now considering a potential offer. Is it best to have a conveyancer on ‘stand by’? I intend to finance via a home loan with Newbury Mortgage Services
It would be sensible to have your start your search soon rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Newbury Mortgage Services , make sure you remember to check that your lawyer is on the Newbury Mortgage Services conveyancing panel.
I have paid off my mortgage with Newbury Mortgage Services. I assume I don't need a solicitor on the Newbury Mortgage Services panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Newbury Mortgage Services mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Newbury Mortgage Services mortgage from the register. Newbury Mortgage Services,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage: but are not moving to another property where the Newbury Mortgage Services has sent the Land Registry the discharge electronically, and the Newbury Mortgage Services has instructed the Land Registry to do so The Land Registry will send you a letter confirming that your Newbury Mortgage Services mortgage has been paid off.
I have a mortgage with Newbury Mortgage Services. My grandfather retired last week and wants to pay off the mortgage left on the property. After Newbury Mortgage Services is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Newbury Mortgage Services conveyancing panel? I do not intend to live at the property once the Newbury Mortgage Services mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the Newbury Mortgage Services panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. As the property is your main residence you need not pay CGT but you should speak with your accountants in any event.