Newcastle Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and professional indemnity insures. COMPLETIONmonitor is a unique risk management tool.

This software is the only way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with notifications given on Newcastle Building Society’s changes. Even though utilising this technology is not a prerequisite for Newcastle Building Society , demonstrating you can stay up to date with Newcastle Building Society’s Handbook requirements is a helpful support to your panel application and, more importantly, safeguard your firm’s panel status.

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

Find a Law Firm approved by Newcastle Building Society

Mortgage companies often change their requirements. The BSA instructions from Newcastle Building Society 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, Newcastle Building Society has made 105 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 26.0 days. In total, 29% of the sections of the BSA Requirements for Newcastle Building Society have been changed since 26/1/2010.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
F.9 30/01/2020 BSA
A.12 31/05/2018 BSA
A.10 21/03/2016 BSA
C.11 11/08/2015 BSA
D.12 11/08/2015 BSA
A.12 03/08/2015 BSA
B.22 30/01/2014 BSA
C.20 30/01/2014 BSA
D.32 30/01/2014 BSA
D.25 30/01/2014 BSA

Last update 27/03/2020

Q and A’s regarding the Newcastle Building Society Conveyancing Panel from members of the public

Much to my surprise I have been told by my mortgage adviser that my the law firm I have appointed is not on the Newcastle Building Society Solicitor panel. How can I be certain that this is indeed the case?
You need to contact your lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they could put your in touch with solicitors on the the approved Newcastle Building Society solicitor panel.
I am buying a new build apartment and my conveyancer is informing me that she has to disclose incentives from the developer as her firm is on the Newcastle Building Society conveyancing panel. The Estate Agents are hassling me to exchange and I dont want to delay deal. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Newcastle Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Newcastle Building Society). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are the lawyers identified as being on the Newcastle Building Society conveyancing panel, together with their details provided by Newcastle Building Society?
The law firm practices themselves provide us confirmation that they are on the Newcastle Building Society conveyancing panel as opposed to being supplied with a list from Newcastle Building Society directly.
I am attempting to get my ex-husband removed the mortgage deeds. Can Newcastle Building Society really tell me which solicitor I can or can not use?
You can use any solicitor you like but Newcastle Building Society 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 Newcastle Building Society solicitors panel
When it comes to mortgage companies such as Newcastle Building Society do solicitors have to be pay a fee to be on the conveyancing panel?
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.
is it true that all conveyancing solicitors on the Newcastle Building Society conveyancing panel overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Newcastle Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
Last month we had a mortgage agreed in principle with Newcastle Building Society. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Newcastle Building Society?
Some lenders take longer than others. Have Newcastle Building Society conducted the valuation? Have you advised Newcastle Building Society as your lawyers details and checked that your lawyer is on the Newcastle Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through