Looking for information about your firm's panel status?
Newbury Building Society Solicitor Panel Assistance:
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.
I am on the Newbury Building Society conveyancing panel. Can I get an archived copy of Newbury Building Society Specific Requirements from the BSA?
The BSA, as is the case with the CML do not retain historic of Specific Requirements. We would advise that you make a request of Newbury Building Society directly.
What is the CLC doing to ensure that licensed conveyancers remain on lender conveyancing panels?
The CLC has initiated discussions with banks and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than ad hoc arrangements that can differ from lender to lender. It is likely that that the CLC have been in touch with lenders such as Newbury Building Society in the recent past
Why has the BSA introduced differing instructions from the CML?
The BSA 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.
I recently attended a seminar arranged via my PI broker where it was mentioned that solicitors are being sued for non-compliance with BSA Mortgage Instructions. I am on the Newbury Building Society conveyancing panel. Can you tell me how many Specific Requirement changes took place by Newbury Building Society during 2013?
During this period 14 sections of the BSA Mortgage Instructions were changed by Newbury Building Society. Some changes are more important than others but as a firm on the Newbury Building Society conveyancing panel you are of course obliged to comply with individual lender requirements. Locktons have recently pointed out in an article that non-compliance with lender requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.
Remember: BSA requirements are not guidelines; they are the lender client’s instructions.
I have been a solicitor for over 35 years without a single claim against me and have been refused acceptance on the Newbury Building Society conveyancing panel with no explanation. Am I not entitled to a reason?
Participation on the lender's panel of conveyancers is at the absolute
discretion of the the lender. The days of open panels are now long
gone. Many lenders reserve the right to accept or reject any
application without giving any reason. You should check your original
application to join the Newbury Building Society conveyancing panel
to see if you are entitled to a reason.
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:
My partners and I run a small firm on the Newbury Building Society conveyancing panel. How can we advertise our practice as specialists in conveyancing in Hendon on the Newbury Building Society panel?
12 potential conveyancing clients search for a conveyancer on the Newbury Building Society panel each month in Hendon. Please contact the team at lenderpanel.com to see how your firm can be listed by those searching for conveyancing in Hendon.
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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
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