Newbury Building Society Solicitor Panel Recently Asked Questions
from members of the public
Much to my surprise I have been told by my financial adviser that my property lawyer is not on the Newbury Building Society Conveyancing panel. What can I do to check?
The first thing you need to do is to contact your conveyancer. You lawyer should advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the the approved Newbury Building Society solicitor panel.
I am buying a newly built flat and my conveyancer is telling me that she is duty bound to reveal incentives from the builder as her firm is on the Newbury Building Society conveyancing panel. The Estate Agents are hassling me to exchange and I dont want to delay matters. 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.
I see that you have a search directory identifying solicitors on the Newbury Building Society conveyancing panel. Do firms pay you a referral fee if I appoint them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Newbury Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am trying to get my former partner removed the mortgage deeds. Can Newbury Building Society really insist on which solicitor I can or can not retain?
You can use any solicitor you like but Newbury Building Society then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Newbury Building Society solicitors panel
I previously instructed online solicitors located in Manchester who are on the Newbury Building Society solicitor panel. They are now charging me a separate fee of £195 for the legal aspects of the Newbury Building Society mortgage. Is this a supplemental conveyancing fee set by Newbury Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Newbury Building Society but by your lawyers. Some firms on the Newbury Building Society will charge an ‘acting for lender’ fee and others do not.
We have a mortgage agreed in principle with Newbury Building Society. Solicitors have been chosen? What is the average time that one could expect to receive a mortgage offer from Newbury Building Society?
There is no definitive answer here. Have Newbury Building Society done the valuation? Have you advised Newbury Building Society as your lawyers details and checked that your lawyer is on the Newbury Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
I have today made my last payment due on 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. Am I right?
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.