Newbury Mortgage Services Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers. It is a unique risk management tool.

This system assists the way you can prove to lender panels that you are, and can stay fully compliant with their instructions, with alerts on Newbury Mortgage Services’s changes. Notwithstanding that using this technology is not a condition for acceptance on the Newbury Mortgage Services panel, demonstrating you can stay up to date with Newbury Mortgage Services’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, safeguard your panel status.

The system generates real-time alerts, automatically produces SRA and CQS reports, and will increase your firm's efficiency. In addition it is user friendly, cost-effective and, for some firms, leads to reduced PII premiums.

Find a Law Firm approved by Newbury Mortgage Services

Mortgage companies 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, frequently:

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.

To find out more about lender panel compliance,

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Newbury Mortgage Services Solicitor Panel Sample Enquires to our Call Center from members of the public

For what reasons would a firm of solicitors be removed from the Newbury Mortgage Services solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of solicitor practices had been removed from a lender panel. The most common reasons in order are :
  1. lack of transactions
  2. the lawyer is a sole practitioner
  3. as part of the HSBC panel reduction
  4. regulatory contact by SRA
  5. accidental removal. We are not aware of the specific or common criteria for removal by Newbury Mortgage Services
I am purchasing a new build flat and my conveyancer is informing me that she is duty bound to disclose incentives from the seller as her practice is on the Newbury Mortgage Services conveyancing panel. I am on a tight deadline to exchange contracts and I have no desire to delay matters. Can I insist on an exchange regardless of what my lawyer says about being on the Newbury Mortgage Services panel?
You should not exchange unless you have advised to do so by your lawyer. 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). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition 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 buying a semi-detached house and getting a mortgage with Newbury Mortgage Services. Can I do my own conveyancing?
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.
When it comes to lenders such as Newbury Mortgage Services do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We expect to receive a DIP from Newbury Mortgage Services this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Newbury Mortgage Services recommend a solicitor on the Newbury Mortgage Services conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Newbury Mortgage Services conveyancing panel. The solicitor represents both you and the Newbury Mortgage Services through the process.
Intending to buy 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 Building Society 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