New Street Mortgages Solicitor Panel Recently Asked Questions
from members of the public
I instructed a solicitor to carry out on my purchase three weeks ago having applied for a mortgage with New Street Mortgages. The firm assured me that they are on New Street Mortgages conveyancing panel and gave me their panel reference. New Street Mortgages then told me that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm currently on the approved 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 how long they think it will take to get the firm to get back on the panel.
Can you help?. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from New Street Mortgages was date stamped random date and we have agreed a date for me to move into the property on 6. My solicitor says that as she is on the New Street Mortgages conveyancing panel she needs to reorder the searches as they are no longer valid.
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)which specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to New Street Mortgages.
I require the services of a New Street Mortgages panel solicitor in Stirling. Could you help me?
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. After all the cost is only one £1 a month
My conveyancers in Birmingham have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with New Street Mortgages. Is it case that being on the New Street Mortgages conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the New Street Mortgages Conveyancing Panel Terms. It might be worth you contacting New Street Mortgages directly.
Do the majority of lenders 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 Street Mortgages conveyancing panel requirements are different to New Street Mortgages’s conveyancing panel requirements.
My wife and I have arranged a further advance on our mortgage from New Street Mortgages as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the New Street Mortgages conveyancing panel to deal with the legals?
New Street Mortgages would not normally instruct firms on their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the New Street Mortgages list
I am buying a property where the roof has a solar panel. New Street 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 Street Mortgages your lawyer must to check the New Street Mortgages conveyancing instructions contained in the Part of CML Handbook for New Street Mortgages . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to New Street 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.