New Life Mortgages Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers such as AmTrust. It is a unique risk mitigation tool.

This system facilitates the way you can prove to lender panels that you are, and can remain fully compliant with their requirements, with alerts on New Life Mortgages’s changes. Notwithstanding that using the software is not a prerequisite for New Life Mortgages , demonstrating you can remain up to date with New Life Mortgages’s Handbook requirements is an excellent support to your panel application and, more importantly, safeguard your firm’s panel standing.

The system creates real-time alerts, automatically produces regulatory and CQS reports, and will increase your firm's efficiency. It is also user friendly, cost-effective and, for some firms, leads to a PII saving.

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Lenders often change their requirements. The UK Finance Lenders’ Handbook requirements from New Life Mortgages are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes


Since 2008, New Life Mortgages has made 147 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 18.6 days. In total, 33% of the sections of P2 of the UK Finance Lenders’ Handbook for New Life Mortgages have been changed since 15/12/2008.

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Recent Changes Include

# Date Assoc. Changes Related To
10.10 13/11/2019 CML
5.14.15b 13/11/2019 CML Absentee Landlord Indemnity Insurance
6.11.1 13/11/2019 CML Obstruction of Access Indemnity Insurance
1.11a 06/11/2019 CML
4.1 06/11/2019 CML
5.7.1a 06/11/2019 CML Flying Freehold Indemnity Insurance
5.4.5 06/11/2019 CML Local Search Indemnity Insurance
6.7.1 04/07/2017 CML
6.7.1 24/04/2017 CML
6.14.2 01/12/2014 CML

Last update 12/11/2019

New Life Mortgages Conveyancing Panel : Questions and Answers from members of the public

Is the fact that my conveyancer is not identified on the New Life Mortgages Solicitor panel that there is a problem with the quality of his work?
That would more than likely be a wrong assumption to make. 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 New Life Mortgages.
Our grandson is about to exchange on a house that has just been built with a mortgage from New Life Mortgages. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the transaction. 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 valuer 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.

Is it necessary during the course of the conveyancing process to have a meeting at the offices of the New Life Mortgages conveyancing panel solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Newcastle so that I can attend their offices if necessary.
As opposed to ten 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 Newcastle .
My grandmother passed away six months ago and as sole heir and executor was left the house. The house had a small mortgage remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to New Life Mortgages , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then New Life Mortgages will insist on your using a conveyancer on the New Life Mortgages conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your New Life Mortgages conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the New Life Mortgages mortgage is registered as a charge at the Land Registry.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender New Life Mortgages be concerned
Given that your lender is New Life Mortgages your lawyer must to check the New Life Mortgages conveyancing instructions contained in the Part of CML Handbook for New Life Mortgages . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to New Life Mortgages where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to proceed? I plan to obtain a mortgage with New Life Mortgages. Is it possible to avoid using solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
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.
My ex -wife’s name is on the New Life Mortgages mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the New Life Mortgages mortgage in order to sell?
As regards the New Life Mortgages mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of New Life Mortgages in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.