New Street Mortgages Solicitor Panel Sample Enquires to our Call Center from members of the public
A solicitor my husband and I wanted to use for conveyancing on a remortgage said she would charge more if my lender is because of their unusual legal requirements. Am I likely to be frustrated using New Street Mortgages? Is New Street Mortgages conveyancing so much more difficult?
New Street Mortgages conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the New Street Mortgages conveyancing panel. If they are not, this does add further risk of delay as New Street Mortgages will appoint their own solicitors to look after their interest.
We are only a couple days away from an exchange and my parents having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender New Street Mortgages. I am advised that, being on the New Street Mortgages conveyancing panel and acting on their behalf he must inform New Street Mortgages if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with New Street Mortgages to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to New Street Mortgages if you agree, failing which, your lawyer must cease to continue acting.
Are there any apps to help search for a local solicitor on the New Street Mortgages conveyancing panel? I have a car and am prepared to travel up to 25 miles to meet the conveyancer.
Feel free to make use of the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the New Street Mortgages solicitor panel.
What happens if my lawyer’s firm is suspended from the New Street Mortgages Conveyancing panel prior to completion?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I have agreed a price on a house I spoke to a lawyer recommended by my brother and he advised instructing a law firm 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 pointed out 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 to suggest a law firm in your location. 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.
Can I register a complaint to New Street Mortgages about the lawyers being on the New Street Mortgages conveyancing panel?
Complaining to New Street Mortgages about their conveyancing panel is unlikely to yield much of a response. Every solicitor firm and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
I was told two weeks ago that my mortgage has been agreed
to by New Street Mortgages. Is it usual for New Street Mortgages to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for New Street Mortgages to deal with your lawyers application to be on the New Street Mortgages conveyancing panel. There's no guarantee that your solicitors will be accepted.