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 Council of Mortgage Lenders and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk mitigation tool.

This system optimises 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. Even though utilising the tool is not a condition for acceptance on the New Life Mortgages panel, demonstrating you can remain up to date with New Life Mortgages’s Handbook requirements is a helpful support to your panel application and, just as importantly, safeguard your panel standing.

The system creates real-time alerts, automatically produces SRA and CQS reports, and will increase your firm's efficiency. In addition it is user friendly, cost-effective and, for many firms, results in reduced PII premiums.

Find a Law Firm approved by New Life Mortgages

Lenders 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, frequently:

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

I instructed a solicitor to conveyancing on my house purchase six weeks ago having applied for a mortgage with New Life Mortgages. The firm reassured me that they are on New Life Mortgages conveyancing panel and gave me their panel number. New Life Mortgages then ,via my broker advised 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 conveyancing panel for New Life Mortgages?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor 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.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company New Life Mortgages will not agree to this. Why was New Life Mortgages even consulted?
Your lawyer being on the New Life Mortgages conveyancing panel is duty bound to inform New Life Mortgages of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to New Life Mortgages then they would have to discontinue acting for you and New Life Mortgages.
Your search tool is useful but there are many lawyers listed near Hackney on the New Life Mortgages conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for New Life Mortgages ?
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..
We're in Wales, FTBs buying with a mortgage (lender is New Life Mortgages , but our lawyer is on the New Life Mortgages conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the New Life Mortgages conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Are all Conveyancing Quality Solicitors on the New Life Mortgages conveyancing panel?
A selection of banks and building societies now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. New Life Mortgages have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
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. 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.