Looking for information about your firm's panel status?
Newbury Building Society Solicitor Panel Information:
What are the Newbury Building Society conveyancing panel arrangements?
Unlike the CML the Building Society Mortgage Instructions deal with this. Section A.12 states ‘In order to act on our behalf your firm or company must be a member of our conveyancing panel provided we are a society that operates one – see specific requirements for details of our arrangements.
The Special Requirements state:
The Society operates a panel of conveyancers. Acceptance to the panel is subject to application and the following requirements:
• Firm must have at least four qualifying partners.
• Current registration with SRA / CLC.
• Professional Indemnity Insurance with minimum £2m cover.
• For solicitors, CQS accreditation
• All firms must have been practicing for a minimum of 5 years.
Firms that are set up as Alternative Business Structures are accepted if the underlying legal practice has been in existence at least 5 years and meets the above requirements.
Conveyancers that are not on the panel will be invited on receipt of a mortgage application where the client proposes them to act.
For commercial applications the lender will instruct their own solicitor (separate legal representation).
Contact Newbury Building Society’s Mortgage Underwriting Team 01635 555700, for an application.
You must also comply with the terms and conditions of your Newbury Building Society solicitor panel appointment.
A long standing client of my firm is looking to acquire a new build house for
£740k in Sussex requiring a mortgage advance over GBP 440,000.
I am on the Newbury Building Society conveyancing panel but do Newbury Building Society have a separate approved panel when a mortgage is above 350k?
Lexsure only know of two or three lenders that operate a distinct conveyancing panel where the mortgage advance is over a certain threshold.
You should nevertheless check directly with Newbury Building Society. At one stage HSBC would only allow Sole practitioners to act for
them where the mortgage was below £150,000. We are not sure if HSBC
still operate such a condition. In your case it is best to check with
Newbury Building Society
Why did the BSA introduced differing instructions from the CML?
The Building Society Association introduced it’s Mortgage Instructions in 2010 to ensure that licensed conveyancers or solicitors on a building society conveyancing panel had full access to a complete set of standardised mortgage instructions.
Who do building societies accept on their approved solicitor panel?
In the same way that there is a unique Newbury Building Society conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement.
Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis.
Do publish figures exists disclosing the Newbury Building Society conveyancing panel size as well as the number of conveyancing firms removed from their panel each quarter?
With lenders and property lawyers working so closely with one another it is surprising that there has not been greater demand for the introduction of a bit of transparency regarding not just the figures for the Newbury Building Society conveyancing panel but for all bank panel listings
Lockton’s PI Insurance renewal form enquires if my practice had been excluded from any mortgage panels in the last 12 months . I just found out that the practice is no longer on the Newbury Building Society conveyancing panel? Will that effect my PII cover?
The best placed professionals to answer this question are your insurance brokers.
The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Newbury Building Society solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.
What lender panels do you receive the most questions about?
BSA lenders do not come within the top 20 lenders in terms of
frequency of questions. The most popular lender panels in terms of
questions are as follows:
Find a Lawyer on the Newbury Building Society Approved Conveyancing Solicitors Panel
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Average number of days to register title including a charge in favour of Newbury Building Society
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Newbury Building Society Firms
- Draft Report on Title precedent for Newbury Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Newbury Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Newbury Building Society lender panel
- Buy-to-Let help for Newbury Building Society
- Consent-to-Let help for Newbury Building Society
- Contractor Mortgages with Newbury Building Society
