Common questions asked concerning the New Life Mortgages Conveyancing Panel from members of the public
We are purchasing a 1 bedroom flat in Newcastle with a mortgage from New Life Mortgages. We like our solicitor but New Life Mortgages says he's not on their "panel". We have to appoint one of the New Life Mortgages panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the New Life Mortgages 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 solicitors to apply to be on the conveyancing panel for New Life Mortgages
Our conveyancer has informed me that he requires proof of ID documents asserting that this forms part of his retainer as a solicitor on the New Life Mortgages Conveyancing panel. This is news to me - can I refuse?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that New Life Mortgages also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with New Life Mortgages CML Handbook requirements last updated on New Life Mortgages
I am planning to acquire a flat and require a conveyancing solicitor in Newcastle who is on the New Life Mortgages approved. Could you point me in the right direction as regards a firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for New Life Mortgages . We don’t recommend any particular firm.
We're in Birmingham, FTBs buying with a mortgage (lender is New Life Mortgages , but our solicitor is on the New Life Mortgages conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the New Life Mortgages conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
We have a mortgage agreed in principle with New Life Mortgages. Solicitors have been appointed? What is the average time that one could expect to receive a mortgage offer from New Life Mortgages?
Some lenders take longer than others. Have New Life Mortgages done the survey? Have you advised New Life Mortgages as your lawyers details and checked that your lawyer is on the New Life Mortgages conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
I'm in the throws of looking at houses and now considering a potential offer. Is it best to have a conveyancer on ‘stand by’? I will be getting a mortgage with New Life Mortgages
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with New Life Mortgages , make sure you remember to check that your lawyer is on the New Life Mortgages conveyancing panel.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, New Life Mortgages are being problematic. The solicitor who is on the New Life Mortgages conveyancing panel is recommending indemnity insurance as a solution but New Life Mortgages are insisting on a building regulation certificate. Why do New Life Mortgages have a conveyancing panel of they don’t accept advice from them?
It is probably the case that New Life Mortgages have referred the matter to their valuer. The reason why New Life Mortgages may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.