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.
Can a practice make a complaint to the BSA about being removed excluded suspended from the Newbury Building Society conveyancing panel?
The BSA is not a regulator and therefore cannot advise on complaints against lenders. You can of course contact Lexsure to see if we can help.
As a firm on the Newbury Building Society solicitor panel who do I call if I have a query about the instructions ?
If you are a solicitor and have a question regarding the mortgage instructions,
you should make contact with Newbury Building Society. The BSA will not advise or comment on specific queries relating to Newbury Building Society or other lenders.
Am I obliged,
being on the Newbury Building Society conveyancing panel, to carry out an Lender Policy search?
Newbury Building Society make no specific obligation to carry out
any of the searches listed. The BSA Mortgage Instructions simply
states that ‘you must ensure that any other searches which may be
appropriate to the particular property, taking into account its
locality and other features are carried out’.
Please note that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Newbury Building Society are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check the Newbury Building Society Specific Requirements of BSA Handbook to be sure), but you are obliged to explain risks and availability to the borrower.
Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one.
Are there conditions,outside the BSA Mortgage Instructions, that a firm should be aware of when on the Newbury Building Society conveyancing panel?
In order to be on the Newbury Building Society conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Newbury Building Society) are as follows:
- To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
- To quote on all communications with us relating to deeds issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
- That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.
- You have the consent of all borrowers to apply for the deeds, before making any request for deeds. We will accept your request for deeds on the understanding that you have obtained such consent. If this is not the case then you should advise our Deeds Services Department in writing when you make your request
- To forward the title deeds and documents to another solicitor within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
Who do building societies allow to be on their conveyancing 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.
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
