New Life Mortgages Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and professional indemnity insures. COMPLETIONmonitor is a unique risk management tool.

This system is the only way you can prove to lender panels that you are, and can stay fully compliant with their instructions, with automatic updates on New Life Mortgages’s changes. Even though utilising this technology is not a condition for acceptance on the New Life Mortgages panel, demonstrating you can stay up to date with New Life Mortgages’s Handbook requirements is a helpful support to your application to their lender panel and, just as importantly, safeguard your panel standing.

COMPLETIONmonitor generates real-time alerts, automatically produces regulatory and CQS reports, and will enhance your firm's efficiency. It is also simply to use, cost-effective and, for some firms, results in a PII saving.

Find a Law Firm approved by New Life Mortgages

Mortgage companies frequently 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, over time:

A Timeline of Policy Changes


Since 2008, New Life Mortgages has made 112 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 24.4 days. In total, 18% 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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Examples of recent questions relating to the New Life Mortgages Conveyancing Panel from members of the public

I am in the process of selling my maisonette and the EA has just called to advise that the buyers are swapping property lawyer. I am told that this is due to the fact that New Life Mortgages will only deal with solicitors on their conveyancing panel. On what basis would a leading lender only deal with specific law firms?
Lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.

Lenders blame a rise in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.

Much to my surprise my conveyancing solicitor has requested from me ID documents saying that this is part of his requirements as a conveyancer on the New Life Mortgages Solicitor panel. Am I being spun a yarn?
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 Terms and Conditions 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
Your search tool is useful but there are many lawyers listed near Newcastle on the New Life Mortgages conveyancing panel. Can you recommend a specific firm on the New Life Mortgages approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
The lawyers that I recently instructed on my house acquisition in Newcastle has suddenly shut down. I chose them because I needed a firm on the New Life Mortgages conveyancing panel and my previous 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 straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. 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
Are all solicitor practices on the New Life Mortgages conveyancing panel overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the New Life Mortgages conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
How can we tell if a solicitor on the New Life Mortgages panel is any good?
Getting recommendations is a sensible 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 advise that you speak with the solicitor carrying out your transaction
I am due to exchange contracts on my flat. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’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 requiring 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.