New Life Mortgages Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. It is a unique risk mitigation tool.

This system is the only way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with alerts 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 a helpful support to your application to their lender panel and, just as importantly, safeguard your firm’s panel status.

COMPLETIONmonitor generates real-time alerts, automatically produces regulatory and CQS reports, and will increase your firm's efficiency. In addition it is simply to use, cost-effective and, for many firms, leads to a PII saving.

Find a Law Firm approved by New Life Mortgages

Mortgage companies frequently 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 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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Recent Changes Include

# Date Assoc. Changes Related To
6.7.1 26/11/2019 CML
10.7 19/11/2019 CML
5.13.1 19/11/2019 CML Insolvency Act Indemnity Insurance Deed of Gift Indemnity Insurance
5.14.10 19/11/2019 CML
6.3.1 19/11/2019 CML
16.3.4 13/11/2019 CML
7.4 13/11/2019 CML
9.2 13/11/2019 CML Adverse Possession Indemnity Insurance Possessory Title Indemnity Insurance Missing Deeds Indemnity Insurance Defective Title Indemnity Insurance
5.2.1 13/11/2019 CML
1.11b 06/11/2019 CML

Last update 26/03/2020

Q and A’s regarding the New Life Mortgages Solicitor Panel from members of the public

I was advised recently by my IFA that my property lawyer is not on the New Life Mortgages Conveyancing panel. How can I be certain that this is indeed the case?
The best course of action for you to take is to contact your conveyancer. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a firm that is on the the approved New Life Mortgages solicitor panel.
My lawyer has spotted an inconsistency when comparing the assumptions in New Life Mortgages’s valuation report and what is revealed within the conveyancing documents. My lawyer has advised that as he is on the New Life Mortgages conveyancing panel he needs to check that the bank is happy with this discrepancy and is still content to lend. Is my conveyancer’s approach correct?
A precondition to being on the New Life Mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on New Life Mortgages) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
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 legal charge? If so, I will appoint a lawyer who conducts conveyancing in London so that I can attend their offices if required.
As opposed to twenty 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 London .
My house is up for sale and I have a buyer. Does my solicitor have to be on the New Life Mortgages conveyancing panel in order to deal with redeeming 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.
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender New Life Mortgages be concerned
As 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. The CML are developing guidance for Northern Ireland and Scotland.
I have decided to exercise my right to buy my property off the council. I have a mortgage offer with New Life Mortgages. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with New Life Mortgages you will need to appoint a solicitor on the New Life Mortgages conveyancing panel.
Sometime soon me and my wife are taking a long lease of a terraced house in Hendon. Conveyancing solicitors in Hendon are preferred to beappointed. My agentsuggested that we double-check that the conveyancing practitioner in Hendon is on the New Life Mortgages solicitors panel. Aren't all lawyers on the New Life Mortgages panel?
Far from all Hendon conveyancing practices are on the New Life Mortgages conveyancing panel. 7 people a month use our search tool to locate a Hendon conveyancing firm on the on the New Life Mortgages solicitors pane.