FAQs for the Newbury Building Society Conveyancing Panel from members of the public
It has come to my attention via my mortgage broker that my solicitor is not on the Newbury Building Society Solicitor panel. What can I do to be certain that this is indeed the case?
The best course of action for you to take is to contact your lawyer directly. You lawyer should advise you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for Newbury Building Society.
My conveyancer has uncovered a discrepancy between the assumptions in Newbury Building Society’s home valuation survey and what is revealed within the legal papers for the property. My lawyer has advised that as he is on the Newbury Building Society conveyancing panel he must ensure that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action appropriate?
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) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Is it necessary during the course of the conveyancing process to visit the offices of the Newbury Building Society conveyancing panel solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Liverpool
so that I can attend their offices if necessary.
As opposed to twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Liverpool
.
I was supposed to complete on my first house last Friday. My solicitor is on the Newbury Building Society solicitors panel but has changed address in the past couple of months and had not informed Newbury Building Society of their new address. Newbury Building Society is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Newbury Building Society branch or your mortgage broker to see if they can assist.
I have paid off my mortgage with Newbury Building Society. I assume I don't need a solicitor on the Newbury Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Newbury Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Newbury Building Society mortgage from the register. Newbury Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Newbury Building Society has sent the Land Registry the discharge electronically, and
the Newbury Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Newbury Building Society mortgage has been paid off.
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.
After much negotiation I have agreed a price on a house. My mortgage broker pressured me to appoint their lawyers I paid an upfront payment of 200. Soon after the conveyancers contacted me to say 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.
