Newbury Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based 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 system is the only way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with notifications given on Newbury Building Society’s changes. While utilising this technology is not a prerequisite for Newbury Building Society , demonstrating you can stay up to date with Newbury Building Society’s Handbook requirements is an excellent support to your application to their lender panel and, more importantly, safeguard your panel standing.

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

Find a Law Firm approved by Newbury Building Society

Lenders often change 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 20 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 136.5 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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Recent Changes Include

# Date Assoc. Changes Related To
D.34 28/06/2017 BSA
D.26 28/06/2017 BSA
C.12 20/01/2016 BSA
A.12 12/05/2014 BSA
D.55 15/07/2013 BSA
D.55 17/06/2013 BSA
C.12 17/06/2013 BSA
D.26 17/06/2013 BSA
A.12 17/06/2013 BSA
C.12 22/07/2010 BSA

Last update 23/03/2020

Newbury Building Society Conveyancing Panel : Questions and Answers from members of the public

How easy is it to change a solicitor as I need to find one who is on the Newbury Building Society conveyancing panel. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
I am purchasing a new build flat and my solicitor is advising me that she has to reveal incentives from the seller as her practice is on the Newbury Building Society conveyancing panel. I am nearing the developer’s deadline to exchange contracts and I have no desire to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Newbury Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Newbury Building Society). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do all mortgage companies provide you with an approved list of solicitors? How do you know who is on the Newbury Building Society conveyancing panel?
The firms themselves provide us confirmation that they are on the Newbury Building Society conveyancing panel as opposed to being supplied with a list from Newbury Building Society directly.
My solicitors in Birmingham have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Newbury Building Society. Is it case that being on the Newbury Building Society 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 Newbury Building Society Conveyancing Panel Terms. It might be worth you contacting Newbury Building Society directly.
We expect to receive a DIP from Newbury Building Society this week so we know how much we could potentially offer 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.
For 5 years I had a mortgage with Newbury Building Society. My uncle retired last week and wants to pay off the mortgage left on the property. After Newbury Building Society is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Newbury Building Society conveyancing panel? I do not intend to live at the property once the Newbury Building Society mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the Newbury Building Society panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. There's no capital gains tax for you as it is your main residence.
Newbury Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Newbury Building Society or your broker and complete any relevant paperwork. Newbury Building Society will tell you what documents they want. Newbury Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Newbury Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.