Newbury Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and professional indemnity insures. COMPLETIONmonitor is a unique risk management tool.

This system facilitates the way you can prove to lender panels that you are, and can remain fully compliant with their requirements, with notifications given on Newbury Building Society’s changes. While using COMPLETIONmonitor is not a prerequisite for Newbury Building Society , demonstrating you can stay up to date with Newbury Building Society’s Handbook requirements is a helpful support to your panel application and, more importantly, protect your panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces SRA and CQS reports, and will improve your firm's efficiency. It is also simply to use, cost-effective and, for many firms, results in reduced PII premiums.

Find a Law Firm approved by Newbury Building Society

Mortgage companies frequently vary their requirements. The BSA instructions from Newbury Building Society 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 2010, Newbury Building Society has made 24 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 113.8 days. In total, 11% of the sections of the BSA Requirements for Newbury Building Society have been changed since 26/1/2010.

To find out more about lender panel compliance,

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Newbury Building Society Conveyancing Panel Sample Enquires to our Call Center from members of the public

Is the fact that my conveyancer is not on the Newbury Building Society Conveyancing panel that there is a problem with the standard of the firm’s work?
That would more than likely be a wrong assumption to make. 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 most common reasons for removal are: (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 Newbury Building Society.
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 Newbury Building Society will not agree to this. Why was Newbury Building Society even consulted?
Your lawyer being on the Newbury Building Society conveyancing panel is duty bound to inform Newbury Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Newbury Building Society then they would have to discontinue acting for you and Newbury Building Society.
Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Newbury Building Society solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
Please explain the implications if my lawyer’s firm is removed from the Newbury Building Society Solicitor panel before 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.
Hi, thinking about buying a house off my mate. Once we agree a price, what’s the best way to proceed? I hope to get a mortgage with Newbury Building Society. Is there anyway to cut out the solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Newbury Building Society involved you will need to appoint a solicitor on the Newbury Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Newbury Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Newbury Building Society conveyancing panel.
We expect to receive a DIP from Newbury Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Newbury Building Society recommend a solicitor on the Newbury Building Society conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Newbury Building Society conveyancing panel. The solicitor represents both you and the Newbury Building Society through the process.
After much negotiation I have agreed a price on a house. My mortgage broker recommended their conveyancers I paid an upfront payment of 150. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Newbury Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Newbury Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.