Newbury Mortgage Services Conveyancing Lender Panel Compliance Tool

Lexsure’s 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 optimises the way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with alerts on Newbury Mortgage Services’s changes. Notwithstanding that utilising the tool is not a prerequisite for Newbury Mortgage Services , demonstrating you can stay up to date with Newbury Mortgage Services’s Handbook requirements is a helpful support to your application to their lender panel and, just as importantly, safeguard your panel status.

COMPLETIONmonitor generates real-time alerts, automatically produces SRA and CQS reports, and will enhance your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, results in a PII saving.

Find a Law Firm approved by Newbury Mortgage Services

Banks and building societies frequently vary their requirements. The BSA instructions from Newbury Mortgage Services 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 Mortgage Services has made 12 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 227.5 days. In total, 9% of the sections of the BSA Requirements for Newbury Mortgage Services have been changed since 26/1/2010.

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Common questions asked concerning the Newbury Mortgage Services Conveyancing Panel from members of the public

My husband and I are FTBs. Within the 48 hours our conveyancer has forwarded the sale agreement to sign with a detailed report with the expectation that exchange is imminent. Newbury Mortgage Services have this morning contacted us to inform me that there is now an issue as our solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.

In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitors should contact Newbury Mortgage Services and see if they can apply for membership of the Newbury Mortgage Services conveyancing panel, but if that is not viable Newbury Mortgage Services will instruct their own solicitors to act. You don't have to instruct a firm on the Newbury Mortgage Services conveyancing panel and you may continue to use your own solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.

Please help. My conveyancer is assuring me that he has to conduct a Local Authority search as the firm are on the Newbury Mortgage Services solicitor panel. Do I not have a choice here?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with Newbury Mortgage Services your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Newbury Mortgage Services’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Newbury Mortgage Services. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Do I have to attend the offices of the Newbury Mortgage Services conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Leeds so that I can pop in to their offices if necessary.
Whereas this was necessary 12 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 Leeds .
My conveyancers in Newcastle have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with Newbury Mortgage Services. Is it case that being on the Newbury Mortgage Services conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Newbury Mortgage Services Conveyancing Panel Terms. It might be worth you contacting Newbury Mortgage Services directly.
Hi, thinking about buying a house off my mate. Once we agree a price, what’s the best way to proceed? I hope to get a mortgage with Newbury Mortgage Services. Is there anyway to cut out the solicitors to save us both money? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
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.
I have paid off my mortgage with Newbury Mortgage Services. I assume I don't need a solicitor on the Newbury Mortgage Services panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Newbury Mortgage Services 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 Mortgage Services mortgage from the register. Newbury Mortgage Services,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 Mortgage Services has sent the Land Registry the discharge electronically, and the Newbury Mortgage Services has instructed the Land Registry to do so The Land Registry will send you a letter confirming that your Newbury Mortgage Services mortgage has been paid off.
After much negotiation I have agreed a price on a house. My mortgage broker suggested a solicitor I paid an upfront payment of 225. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Newbury Mortgage Services 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 Mortgage Services 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.