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approved by Newcastle BS
Ready to buy a new home? Failing to check that a lawyer is on the Newcastle BS list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Newcastle Building Society Conveyancing Panel
Newcastle Building Society Conveyancing Panel : Questions and Answers
A lawyer I had intended to instruct on a purchase said he would charge more if my lender is due to their difficult processes! Am I likely to be frustrated using Newcastle Building Society? Any comments will be appreciated
Newcastle Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Newcastle Building Society conveyancing panel. If they are not, this does add further risk of delay as Newcastle Building Society will appoint their own solicitors to look after their interest.
I am buying a newly constructed apartment and my lawyer is informing me that she has to reveal incentives from the seller as her practice is on the Newcastle Building Society conveyancing panel. I am on a tight deadline to exchange and I would rather not delay the conveyancing. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Newcastle Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Newcastle Building Society). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What tools are available to search for a local solicitor on the Newcastle Building Society conveyancing panel? I have a car and am prepared to travel up to 20 miles to meet the solicitor.
You can use the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Newcastle Building Society solicitor panel.
My conveyancers in London have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Newcastle Building Society. Is it case that being on the Newcastle Building Society conveyancing panel they need to have retained the file for a prescribed period?
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 Newcastle Building Society Conveyancing Panel Terms. It might be worth you contacting Newcastle Building Society directly.
When it comes to mortgage companies such as Newcastle Building Society do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
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 Newcastle Building Society conveyancing panel requirements are different to Newcastle Building Society’s conveyancing panel criteria.
Newcastle Building Society 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 Newcastle Building Society or your broker and complete any relevant paperwork. Newcastle Building Society will tell you what documents they want. Newcastle Building Society 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. Newcastle Building Society 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.