New Life Mortgages Solicitor Panel Recently Asked Questions from members of the public
I have been advised by my broker that I have to pay New Life Mortgages fees if I use my own solicitor. How good are the New Life Mortgages conveyancing panel solicitors? I dont care which law firm I use as long as they're good and not exorbitantly priced. Would you recommend a specific law firm on the New Life Mortgages panel?
New Life Mortgages’s conveyancing panel is substantial so it would be advisable to check with the firms you are getting quotes from that they are on the panel. You can search by postcode on the search tool on this site to find solicitors that New Life Mortgages will allow to act for them.
Our grandson is in the process of securing a newly built flat with a home loan from New Life Mortgages. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the New Life Mortgages conveyancing panel as a standard part of the process, and to the surveyor when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the New Life Mortgages conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do I have to attend the offices of the New Life Mortgages conveyancing panel solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Bristol
so that I can attend their offices if necessary.
Whereas this was necessary 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Bristol
.
The firm that just started acting on my house acquisition in Newcastle has without warning shut down. I chose them because I had to have a firm on the New Life Mortgages conveyancing panel and my family lawyer was not. I gave my credit card details for them to take £175 for searches. What do I do now?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the New Life Mortgages conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist
How can we tell if a solicitor on the New Life Mortgages panel is any good?
obtaining recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor conducting your conveyancing
My wife and I have arranged a further advance on our mortgage from New Life Mortgages as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the New Life Mortgages conveyancing panel to deal with the legals?
New Life Mortgages do not ordinarily appoint firms on their conveyancing panel 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 New Life Mortgages panel
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to move forward? I plan to obtain a mortgage with New Life Mortgages. Is there anyway to cut out the solicitors to save us both money? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with New Life Mortgages involved you will need to appoint a solicitor on the New Life Mortgages conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to New Life Mortgages. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the New Life Mortgages conveyancing panel.