New Street Mortgages Conveyancing Lender Panel Compliance Tool

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

This software optimises the way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with automatic updates on New Street Mortgages’s changes. While using COMPLETIONmonitor is not a condition for acceptance 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 application to their lender panel and, just as importantly, safeguard your firm’s panel standing.

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, results in reduced PII premiums.

Find a Law Firm approved by New Street Mortgages

Banks and building societies frequently change 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.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
6.7.1 04/06/2018 CML
6.7.1 04/04/2018 CML
5.20.3 06/11/2017 CML
5.8.1 13/09/2016 CML
4.1 21/03/2016 CML
5.4.6 21/03/2016 CML Local Search Indemnity Insurance
6.7.1 23/02/2016 CML
6.4.4 08/02/2016 CML
6.6.3 08/02/2016 CML
3.1.5 08/02/2016 CML

Last update 08/01/2020

New Street Mortgages Conveyancing Panel Recently Asked Questions from members of the public

Is the fact that my conveyancer is not on the New Street Mortgages Conveyancing panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for New Street Mortgages.
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 Street Mortgages will not agree to this. Why was New Street Mortgages even consulted?
Your lawyer being on the New Street Mortgages conveyancing panel is duty bound to inform New Street Mortgages of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to New Street Mortgages then they would have to discontinue acting for you and New Street Mortgages.
Do banks and building societies provide you with an approved list of solicitors? How do you know who is on the New Street Mortgages conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the New Street Mortgages conveyancing panel as opposed to being supplied with a list from New Street Mortgages directly.
The lawyers that I appointed last week on my house acquisition in Newcastle has without warning shut down. They were on acting for me because I had to have a lawyer on the New Street Mortgages conveyancing panel and my family lawyer was not. I paid them £200 on account. What are my options?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the New Street Mortgages conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help
I'm in the throws of viewing apartments and now considering a potential offer. Should I already have a conveyancer appointed at this stage? I intend to finance via a mortgage with New Street Mortgages
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with New Street Mortgages , make sure you remember to check that your lawyer is on the New Street Mortgages conveyancing panel.
Planning on purchasing a flat with a mortgage with New Street Mortgages. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the New Street Mortgages conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the New Street Mortgages conveyancing panel
I have instructed a lawyer having checked that they are on the New Street Mortgages conveyancing panel. Does my lawyer arrange the survey of the property? Or I've read lots of house buying,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the New Street Mortgages conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
New Street Mortgages will need an independent valuation of the property. Your lawyer will not arrange this. Usually New Street Mortgages will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with New Street Mortgages you could contact your them to see if they have a list of approved surveyors.