New Life Mortgages Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers. It is a unique risk mitigation tool.

This system assists the way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with notifications given on New Life Mortgages’s changes. While using COMPLETIONmonitor 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, more importantly, safeguard your firm’s panel standing.

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

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Banks and building societies often vary 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 110 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 24.8 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.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
6.7.1 09/01/2017 CML
3.1.6 01/12/2014 CML
5.14.15b 01/12/2014 CML Absentee Landlord Indemnity Insurance
6.14.1a 01/12/2014 CML
6.14.1 01/12/2014 CML
3.1.3 01/12/2014 CML
3.2.3 23/09/2013 CML
5.20.4 23/09/2013 CML
5.14.15a 01/12/2010 CML Absentee Landlord Indemnity Insurance
5.5.1a 01/12/2010 CML

Last update 17/11/2018

New Life Mortgages Solicitor Panel Recently Asked Questions from members of the public

I am selling my apartment and the estate agent has just telephoned to advise that the purchasers are changing their law firm. The reason given is that New Life Mortgages will only work with property lawyers on their approved list. On what basis would a leading mortgage company only work with specific lawyers?
Banks 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 point to the increase 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.

Our lawyer has identified a legal deficiency with the lease for the apartment we are purchasing. The other side have offered defective title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor has advised that as he is on the New Life Mortgages conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is New Life Mortgages?
Just because you have a mortgage offer from New Life Mortgages does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and New Life Mortgages are the client. The appropriate lender requirements must be adhered to by the New Life Mortgages conveyancing panel who has to balance acting for you and New Life Mortgages
Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the New Life Mortgages conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I am selling my house. Does my solicitor have to be on the New Life Mortgages conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the New Life Mortgages conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Do conveyancing lawyers on the New Life Mortgages conveyancing panel work on a no sale no fee basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
How can we tell if a solicitor on the New Life Mortgages panel is any good?
seeking recommendations is a sensible start. 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 suggest that you speak with the solicitor handling your conveyancing
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.