Looking for information about your firm's panel status?
Newcastle Building Society Solicitor Panel Information:
What are the Newcastle 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 outsources management of its conveyancing panel to Legal Marketing Services Limited (“LMS”).
Firms may apply for inclusion to the Society’s conveyancing panel by visiting www.lms.com/lenderpanels
You must also comply with the terms and conditions of your Newcastle Building Society solicitor panel appointment.
Is it possible that Newcastle Building Society will instruct another lawyer on the Newcastle Building Society solicitor panel for a further advance during the mortgage term ?
The Building Society Association Mortgage Instructions applicable to a solicitor on the Newcastle Building Society conveyancing panel indicates that when a further advance is required for alterations or improvements to the property we will not normally instruct a member of the Newcastle Building Society conveyancing panel but if you are instructed the appropriate provisions of the BSA mortgage instruction must be adhered to .
An established client of mine is buying a semi detached house for
£740k in Kenton with a mortgage over GBP 415k.
I am on the Newcastle Building Society conveyancing panel but do Newcastle Building Society have a separate approved panel when a mortgage is above 350k?
We only know of a couple of lenders that operate a separate conveyancing panel where the mortgage advance is over a certain level.
You should nevertheless check directly with Newcastle 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
Newcastle Building Society
A recent SRA survey reveals that three quarters of solicitors have been removed or threatened with removal from a lender conveyancing panel. Newcastle Building Society and other building societies have restricted their panel over the years. Why?
The feeling from lenders generally (we can not speak for Newcastle Building Society specifically), is that for too long
solicitors have concentrated on their duty of care to their purchasing
client, and have paid scant attention to the duty they owe to the
lender, whom they conveniently forget is also their client.
Looking from the lenders’ perspective, it has to be said that there are pressures to encourage smaller panels. The Financial Services Authority regards the open panel system as a major contributor to mortgage fraud and negligence cases, and has been leaning on lenders to move to proactive panel management, which is more expensive the larger the panel. Hence it is becoming more common for lenders to charge fees, and/or require extensive form-filling, from would-be panel members
Newcastle Building Society and other BSA lenders are in varying stages of reviewing their approach to vetting firms on their conveyancing panels, to ensure their ongoing exposure to unsuitable firms is reduced.
My practice have never been on the Newcastle Building Society approved panel as well other banks . My clients, who have applied for a mortgage with Newcastle Building Society wish use my firms conveyancing services regardless of the fact that we are not on the Newcastle Building Society panel. Am I doing anything wrong is suggesting to my client that they use a firm down the road to represent Newcastle Building Society on mortgage aspect of the transaction?
You need to be careful here as what you are intending may not be acceptable to the mortgage company.
It is possible that you (as a non-panel firm) or the mortgage applicant are not entitled instruct a panel firm of your choice. Lenders such as Nationwide BS make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer.
You also need to make the costs implications and potential for delay very clear to your client.
I have read a number of legal articles recently about firms being sued for non-compliance with BSA Mortgage Instructions. I am on the Newcastle Building Society conveyancing panel. Can you tell me how many Specific Requirement changes took place by Newcastle Building Society during 2013?
During this period 17 sections of the BSA Mortgage Instructions were changed by Newcastle Building Society. Some changes are more important than others but as a firm on the Newcastle 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.
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 Newcastle Building Society conveyancing panel. How can we advertise our firm as carrying out conveyancing in Hendon who can act for the borrower and Newcastle Building Society?
7 potential conveyancing clients search for a conveyancing practitioner on the Newcastle Building Society panel on a monthly basis in Hendon. The lenderpanel directory service team who will show you how your firm can be identified by those searching for conveyancing in Hendon.
Find a Lawyer on the Newcastle Building Society Solicitors Panel
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Average number of days to register title including a charge in favour of Newcastle Building Society
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | 16.0 |
| 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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