New Street Mortgages Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. COMPLETIONmonitor is a unique risk management tool.

This system assists the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with alerts on New Street Mortgages’s changes. Even though utilising this technology is not a condition for being on the New Street Mortgages panel, demonstrating you can remain up to date with New Street Mortgages’s Handbook requirements is an excellent support to your panel application and, more importantly, safeguard your panel standing.

The system creates real-time alerts, automatically produces COLP and CQS reports, and will improve 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 Street Mortgages

Lenders often vary their requirements. The UK Finance Lenders’ Handbook requirements from New Street 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 Street Mortgages has made 130 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 21.0 days. In total, 7% of the sections of P2 of the UK Finance Lenders’ Handbook for New Street Mortgages have been changed since 15/12/2008.

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

I appointed a solicitor to carry out on my purchase 5 weeks ago having applied for a mortgage with New Street Mortgages. The law firm reassured me that they are on New Street Mortgages conveyancing panel and advised me their panel number. New Street Mortgages then called me to say 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 Street 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 Street Mortgages conveyancing panel You may wish to enlist the help of your broker to check with the New Street Mortgages as to the time frame to get your lawyer reinstated on the panel once again.
I am buying a newly built duplex and my conveyancer is informing me that she is duty bound to reveal incentives from the developer as her firm is on the New Street Mortgages conveyancing panel. I am nearing the developer’s deadline to exchange contracts and I would rather not delay deal. Can I insist on an exchange regardless of what my lawyer says about being on the New Street Mortgages panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the New Street Mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on New Street Mortgages). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I require the services of a New Street Mortgages panel solicitor in Inverness. Can you assist?
It is not clear why you need a New Street Mortgages panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to New Street Mortgages to find out which solicitors in New Street Mortgages are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
I am selling my house. Does my solicitor have to be on the New Street Mortgages conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the New Street 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.
We have had an offer accepted on a apartment I spoke to a solicitor recommended by my mum and he suggested retaining a solicitor approved by New Street Mortgages. The estate agent recommended two local firms so I asked New Street Mortgages if the 2 suggested solicitors are approved, which they are not. New Street Mortgages suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of New Street Mortgages 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of New Street Mortgages for conveyancing panel firms in your area. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the New Street Mortgages conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto New Street Mortgages conveyancing panel as it may only take about 2-3 weeks. As long as they meet New Street Mortgages’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
I am selling my flat. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, New Street Mortgages are being problematic. The solicitor who is on the New Street Mortgages conveyancing panel is happy to accept ‘lack of building regulation’ insurance but New Street Mortgages are insisting on a building regulation certificate. Why do New Street Mortgages have a conveyancing panel of they don’t accept advice from them?
It is probably the case that New Street Mortgages have referred the matter to their valuer. The reason why New Street 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.
Me and my partner are buying a flat in Hendon. Conveyancing solicitors in Hendon will soon beinstructed. My motheradvised that we double-check that the property lawyer in Hendon is on the New Street Mortgages list of approved conveyancing firms. Is this really necessary?
A limited percentage of Hendon conveyancing firms are on the New Street Mortgages conveyancing panel. 5 people a month use our search tool to search for a Hendon conveyancing firm on the on the New Street Mortgages panel.