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Newbury Building Society Conveyancing Lender Panel Compliance Tool

Looking for information about your firm's panel status?

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How can my firm apply to be on the Newbury Building Society Conveyancing Panel?
Check your firm’s panel Status
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How can my firm be reinstated onto the Newbury Building Society Conveyancing Panel?
Check your firm’s panel Status

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. It is supported by PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk mitigation tool.

This system assists the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Newbury Building Society’s changes. Notwithstanding that utilising COMPLETIONmonitor is not a condition for acceptance on the Newbury Building Society panel, demonstrating you can stay up to date with Newbury Building Society’s Handbook requirements is a helpful support to your application to their lender panel and, just as importantly, safeguard your panel status.

The system creates real-time alerts, automatically produces regulatory and CQS reports, and will increase your firm's efficiency. It is also simply to use, cost-effective and, for many firms, results in a PII saving.

Find a Law Firm approved by Newbury Building Society

Lenders often 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 30 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 91.0 days. In total, 16% 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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FAQs : The Newbury Building Society Conveyancing Panel from members of the public

I am obtaining a mortgage with Newbury Building Society. I hope to retain the legal services of a Licensed Conveyancer. Does the Newbury Building Society Solicitor panel exclude conveyancers regulated by the CLC
Newbury Building Society’s approved solicitor list is, like many other lenders associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
Our solicitor has uncovered a problem with the lease for the flat we are purchasing. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor says that as he is on the Newbury Building Society conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is Newbury Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Newbury Building Society are the client. 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 Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Newbury Building Society can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Are the lawyers identified as being on the Newbury Building Society conveyancing panel, together with their details provided by Newbury Building Society?
The law firm practices 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.
Can you clarify what the consequences are if my solicitor is suspended from the Newbury Building Society Conveyancing 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.
is it true that all solicitor firms on the Newbury Building Society conveyancing panel regulated by the SRA?
As a firm of solicitors, in order to be on the Newbury Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Newbury Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Newbury Building Society you will need to appoint a solicitor on the Newbury Building Society conveyancing panel.
I currently have a mortgage with with Newbury Building Society. Conveyancing was finalised months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Newbury Building Society?
You must advise Newbury Building Society prior to renting your property as this is likely to be a breach of Newbury Building Society’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Newbury Building Society directly. It should not be necessary to do this via a Newbury Building Society conveyancing panel solicitor.

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