New Life Mortgages Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and professional indemnity insures. It is a unique risk management tool.

This software facilitates the way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with automatic updates on New Life Mortgages’s changes. Even though using COMPLETIONmonitor is not a prerequisite for New Life Mortgages , demonstrating you can stay 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.

COMPLETIONmonitor creates real-time alerts, automatically produces COLP and CQS reports, and will enhance your firm's efficiency. It is also user friendly, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by New Life Mortgages

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, over time:

A Timeline of Policy Changes


Since 2008, New Life Mortgages has made 237 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 11.5 days. In total, 41% of the sections of P2 of the UK Finance Lenders’ Handbook for New Life Mortgages have been changed since 15/12/2008.

To find out more about lender panel compliance,

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FAQs : The New Life Mortgages Conveyancing Panel from members of the public

I instructed a solicitor to conveyancing on my purchase six weeks ago having applied for a mortgage with New Life Mortgages. The solicitors assured me that they are on New Life Mortgages conveyancing panel and gave me their panel number. New Life Mortgages then told me that their panel number was dormant and would need to be reactivated. What happens next? Do I instruct a different law firm currently on the approved panel for New Life Mortgages?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the New Life Mortgages conveyancing panel You may wish to enlist the help of your broker to check with the New Life Mortgages as to the time frame to get your lawyer reinstated on the panel once again.
can you help? My conveyancer is informing me me that she is duty-bound to conduct a Local Authority search as the firm are on the New Life Mortgages conveyancing panel. Do I not have a choice here?
You have limited options available to you. Given that you are taking out a loan with New Life Mortgages your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of New Life Mortgages’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated New Life Mortgages. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Whilst your website is a good idea there are many lawyers listed near Manchester on the New Life Mortgages conveyancing panel. It would be a lot more helpful if you could 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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
My grandmother passed away last year and as sole heir and executor was left the house. The house had a relatively small loan 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.
I previously instructed online conveyancers based in Cardiff who are on the New Life Mortgages solicitor panel. They have just invoiced me a separate fee of £135 for dealing with the New Life Mortgages mortgage. Is this an additional conveyancing fee set by New Life Mortgages?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by New Life Mortgages but by your lawyers. Some firms on the New Life Mortgages will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
Do the majority of banks 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 New Life Mortgages conveyancing panel requirements are different to New Life Mortgages’s conveyancing panel criteria.
At last I have had an offer on an apartment accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with New Life Mortgages?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the New Life Mortgages conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with New Life Mortgages and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.