Newbury Mortgage Services Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and professional indemnity insures. COMPLETIONmonitor is a unique risk mitigation tool.

This software is the only way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Newbury Mortgage Services’s changes. Even though 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 panel application and, just as importantly, protect your panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces SRA and CQS reports, and will enhance your firm's efficiency. It is also simply to use, cost-effective and, for many firms, leads to reduced PII premiums.

Find a Law Firm approved by Newbury Mortgage Services

Lenders often 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 21 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 130.0 days. In total, 11% of the sections of the BSA Requirements for Newbury Mortgage Services have been changed since 26/1/2010.

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FAQs for the Newbury Mortgage Services Solicitor Panel from members of the public

I would like to know the reason why all UK lawyers aren't included on the Newbury Mortgage Services Solicitor panel?
Even though it may seem unfair for Newbury Mortgage Services to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern Newbury Mortgage Services are limiting their panel of approved conveyancing lawyers to a manageable size. The Newbury Mortgage Services lawyer panel is not the most exclusive of all lenders
My wife and I intend to remortgage our apartment with Newbury Mortgage Services. We have a son approaching twenty who lives with us. The solicitor on the Newbury Mortgage Services conveyancing panel requested us to identify any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Newbury Mortgage Services conveyancing panel as he never had to sign this form when we bought 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Newbury Mortgage Services .This is solely used to protect the Newbury Mortgage Services if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.

It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Newbury Mortgage Services had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.

Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Newbury Mortgage Services conveyancing panel. My lawyer has said that they are on the Newbury Mortgage Services approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Newbury Mortgage Services conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Newbury Mortgage Services solicitor panel.
I am attempting to get my former partner taken off the mortgage deeds. Can Newbury Mortgage Services really tell me which solicitor I can or can not retain?
You can use any solicitor you like but Newbury Mortgage Services 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 Mortgage Services solicitors panel
Do most lenders 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 have today made my last payment due on 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.
My offer on house has been accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Newbury Mortgage Services?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Newbury Mortgage Services conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Newbury Mortgage Services and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.