Newbury Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers such as AmTrust. It is a unique risk management tool.

This software is the only way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with notifications given on Newbury Building Society’s changes. Notwithstanding that using the software 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 application to their lender panel and, more importantly, protect your firm’s panel status.

The software creates real-time alerts, automatically produces compliance and CQS reports, and will enhance your firm's efficiency. In addition it is user friendly, cost-effective and, for many firms, leads to reduced PII premiums.

Find a Law Firm approved by Newbury Building Society

Banks and building societies 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, over time:

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.

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Recent Changes Include

# Date Assoc. Changes Related To
C.12 10/10/2018 BSA
C.12 28/07/2017 BSA
D.34 28/06/2017 BSA
D.26 28/06/2017 BSA
E.12 21/03/2016 BSA
C.12 20/01/2016 BSA
A.12 12/05/2014 BSA
D.55 15/07/2013 BSA
D.26 17/06/2013 BSA
C.12 22/07/2010 BSA

Last update 12/07/2019

Newbury Building Society Solicitor Panel Example Support Desk Enquires from members of the public

I need to swap lawyers as my lawyer is not on the Newbury Building Society panel of conveyancing solicitors. How easy is it to change conveyancer?
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.
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.
Whilst your website is a good idea there are many lawyers listed near Manchester on the Newbury Building Society conveyancing panel. Can you recommend a specific firm on the Newbury Building Society approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
Can you clarify what the consequences are if my solicitor is suspended from the Newbury Building Society Conveyancing panel in advance of the moving date as agreed at exchange of contracts?
The first thing to point out is that, this is a very rare occurrence. 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.
How can we tell if a solicitor on the Newbury Building Society panel is any good?
Getting recommendations is a sensible start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor carrying out your conveyancing
For 5 years I had a mortgage with Newbury Building Society. My godfather has just retired and wants to pay off my mortgage. 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.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Newbury Building Society are being problematic. The solicitor who is on the Newbury Building Society conveyancing panel is saying indemnity insurance will be fine but Newbury Building Society are requiring a building regulation certificate. Why do Newbury Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Newbury Building Society have referred the matter to their valuer. The reason why Newbury Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.