Examples of recent questions relating to the Newbury Mortgage Services Solicitor Panel from members of the public
On what basis would a law firm be removed from the Newbury Mortgage Services approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Newbury Mortgage Services
My solicitor has identified a discrepancy when comparing the assumptions in Newbury Mortgage Services’s home valuation survey and what is revealed within the conveyancing documents. My lawyer informs me that as he is on the Newbury Mortgage Services conveyancing panel he is duty bound to check that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s approach appropriate?
A precondition to being on the Newbury Mortgage Services approved panel is to comply with the CML Handbook requirements (last updated for this lender on Newbury Mortgage Services) 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 you.
How up to date is your database of lawyers on the Newbury Mortgage Services conveyancing panel? Do Newbury Mortgage Services send you an updated list?
The firms themselves provide us confirmation that they are on the Newbury Mortgage Services conveyancing panel as opposed to being supplied with a list from Newbury Mortgage Services directly.
I am considering refinancing my house does my lawyer need to be on the Newbury Mortgage Services Solicitor panel?
There is nothing to stop you using your solicitor but Newbury Mortgage Services will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Hi, thinking about buying a house off my mate. Once we agree a price, what’s the best way to move forward? I plan to obtain a mortgage with Newbury Mortgage Services. Is it possible to avoid using solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Newbury Mortgage Services involved you will need to appoint a solicitor on the Newbury Mortgage Services conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Newbury Mortgage Services. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Newbury Mortgage Services conveyancing panel.
Planning on purchasing a house with a mortgage with Newbury Mortgage Services. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Newbury Mortgage Services conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Newbury Mortgage Services conveyancing panel
My ex -wife’s name is on the Newbury Mortgage Services mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Newbury Mortgage Services mortgage in order to sell?
As regards the Newbury Mortgage Services mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Newbury Mortgage Services in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.