Looking for information about your firm's panel status?
Newbury Building Society Solicitor Panel Information:
What are the Newbury Building Society conveyancing panel criteria?
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.
Will the fact that my firm receives Alerts via this site assist in my application to join the Newbury Building Society solicitor panel?
The criteria to join the Newbury Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
Will the fact that my firm receives Alerts via this site help in my application to join the Newbury Building Society solicitor panel?
The criteria to join the Newbury Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
Do you have any idea what Lenders such as Newbury Building Society are asking for when it comes to applying to be on their approved solicitor list?
Criteria differ from lender to lender.
We do not hold specific requirements relating to the questions raised as part of the application to be on the Newbury Building Society conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):
- Whether the firm is able to operate in other jurisdictions
- Full disciplinary history for each licensed conveyancer
- Full complaints history for each licensed conveyancer
- PII Cover details, including, if relevant, whether the firm is or has been in the assigned risks pool and structure of cover – top-up split and history of any refusals
- Full career history for each solicitor including admission date to the relevant Law Society
- List of all those staff who work within the conveyancing team
- SRA or equivalent regulator registration number where applicable
- Full complaints history for each conveyancing solicitor
- Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers
- List of all Licensed Conveyancers within firm
Are the Council of Licensed Conveyancers taking any action to protect licensed conveyancers from being removed from lender panels?
As is the case with the Law Society the CLC has entered 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. We expect that that the CLC have been in touch with lenders such as Newbury Building Society as well as the BSA
My firm is on the Newbury Building Society conveyancing panel. I am
dealing with Newbury Building Society mortgage on a purchase. My
borrower client is asking not to disclose an issue to Newbury Building Society. What do I do in this conflict situation?
When a solicitor is acting for both Newbury Building Society and
borrower there is potential for conflicts to arise. You owe duties to
both clients. All information received by you from your client is
confidential and cannot be disclosed without the client’s consent.
In your situation, if the purchaser will not consent to the information being passed on to the lender, the solicitor must cease to act for Newbury Building Society and it may well be prudent for you to cease to act for the purchaser as well. You must not inform Newbury Building Society of the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your Newbury Building Society conveyancing panel status.
JLT’s PI Insurance renewal form enquires if my firm had been excluded from any mortgage panels in the last year . I recently found out that the firm is no longer on the Newbury Building Society solicitor panel? Is this likely to effect my PII premium?
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* |
|---|---|
| 2026 | [no data] |
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [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
