Looking for information about your firm's panel status?
Newbury Building Society Conveyancing 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.
Can a firm register 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 will not advise on complaints against lenders. You can of course contact us to see if we can assist.
Are the BSA planning on creating a searchable register to to identify law firms on the Newbury Building Society conveyancing panel ?
We have not been informed any plans on the part of the BSA to promote such a tool .
Is it true that the Law Society has recommended that firms check their status on the
Newbury Building Society
conveyancing panel?
The Law Society of Scotland has suggested that solicitors should check their lender panel status before accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the
Newbury Building Society
conveyancing panel. The recommendation arises from the practice of a number of mortgage lenders who remove
solicitors from their panels without prior notice as part of their
panel management system, which can lead to some solicitors discovering
this only once instructed. This is sensible advice as a client finding
out midway through a transaction that their lawyer is not on the
approved lender panel is very frustrating and can lead to
complaints. Many online consumer forums contain posts where someone is
complaining about finding that their lawyer is not on a lender
conveyancing panel. Such forums include mumsnet.com
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 conveyancing panel?
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):
- List of all solicitors within firm
- Full complaints history for each licensed conveyancer
- Full complaints history for each conveyancing solicitor
- Full disciplinary 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
- List of all those staff who work within the conveyancing team
- Full career history for each solicitor including admission date to the relevant Law Society
- SRA or equivalent regulator registration number where applicable
- Whether the firm is able to operate in other jurisdictions
- Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers
I seldom receive a copy of a lender valuation any more. Do my Newbury Building Society conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Newbury Building Society as the Mortgagee?
You have a number of obligations in this regard which you need to follow if you wish to comply with your lender client’s instructions as set out in the BSA Mortgage Instructions. (a) You must take reasonable steps to verify that there are no discrepancies between the description of the property as compared to an address that is no longer valid.
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
