Newbury Mortgage Services Conveyancing Panel : Questions and Answers from members of the public
I need to swap lawyers as my lawyer is not on the Newbury Mortgage Services 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.
Much to my surprise my conveyancing solicitor is asking me for identification documents stating that this forms part of his obligations as a conveyancer on the Newbury Mortgage Services Solicitor panel. Am I being spun a yarn?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that Newbury Mortgage Services also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Newbury Mortgage Services CML Handbook requirements last updated on Newbury Mortgage Services
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I understood that this was a condition of being on the Newbury Mortgage Services conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am purchasing a new build flat and getting a mortgage with Newbury Mortgage Services. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Newbury Mortgage Services conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Newbury Mortgage Services conveyancing panel in your location.
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Newbury Mortgage Services conveyancing panel requirements are different to Newbury Mortgage Services’s conveyancing panel criteria.
I was thinking of purchasing my friend’s property. 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 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.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Newbury Mortgage Services are being a right pain. The solicitor who is on the Newbury Mortgage Services conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Newbury Mortgage Services are requiring a building regulation certificate. Why do Newbury Mortgage Services have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Newbury Mortgage Services have referred the matter to their valuer. The reason why Newbury Mortgage Services 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.