Newcastle Building Society Conveyancing Panel Information

BSA Designator: Newcastle Building Society
Jurisdiction: England and Wales

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Newcastle Building Society and to assist in remaining on the Newcastle Building Society Solicitors Panel.

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Newcastle Building Society Solicitor Panel Assistance:

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.

Are Newcastle Building Society Conveyancing panel lawyers at risk of the society altering or retracting the mortgage offer?
Newcastle Building Society ‘s answer to this question can be found at section B.3 of their BSA specific requirements which states:

• Where there is: -

o A cashback;

o An incentive;

o An indirect incentive;

o Where the sale is not at arms length for value to unconnected persons.

o Where there is a restriction or a right of pre-emption which is not at market value

o Where the Society‘s right to possession is fettered in some way.

o If we reasonably suspect that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;

o If we reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances.

o If the mortgage transaction does not complete within 3 months of the date of the offer.

o If the solicitor acting for the applicant, borrower, mortgagor or guarantor cannot comply with our instructions.

o If there is a material change in the circumstances of the applicant, borrower, mortgagor or guarantor between issue of the offer and prior to completion.

o If any of the terms of the mortgage offer cannot be satisfied.

o If for any reason an insurer is not prepared to agree satisfactory building insurance for the property being charged as security.

o If we have doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion.

In the first instance you must notify the Mortgage Operations Department, Newcastle Building Society, Portland House, New Bridge Street, Newcastle upon Tyne NE1 8AL and await further instructions before doing anything further on the file.

As a firm on the Newcastle Building Society conveyancing panel who should we communicate with should we have a question conerning the instructions ?
If you are a property lawyer and have a query about the Specific Requirements, you should make contact with Newcastle Building Society. The BSA will not advise or comment on specific queries relating to Newcastle Building Society or other lenders.
Given my firm’s membership on the Newcastle Building Society conveyancing panel how long am I obliged to retain the original conveyancing file?
The BSA Mortgage Instructions state that the firm must keep the file for at least 6 years from the date of the mortgage. Data imaging is normally suitable compliance with this requirement. As a firm on the Newcastle Building Society conveyancing panel you must allow Newcastle Building Society to conduct such reasonable audit of your information security measures as Newcastle Building Society or their agents may to ensure your compliance with your file retention obligations.
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 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.

The firm that I work for is on the Newcastle Building Society conveyancing panel. I am dealing with Newcastle Building Society mortgage on a purchase. My borrower client is asking not to disclose an issue to Newcastle Building Society. What do I do in this conflict situation?
When a solicitor is acting for both Newcastle 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 Newcastle Building Society and it may well be prudent for you to cease to act for the purchaser as well. You must not inform Newcastle 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 Newcastle Building Society conveyancing panel status.

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:
We are a 3-partner firm on the Newcastle Building Society conveyancing panel. How can we advertise our practice as carrying out conveyancing in Hendon authorised to act forNewcastle Building Society?
8 potential conveyancing clients search for a property lawyer on the Newcastle Building Society panel every 4 weeks in Hendon. The lenderpanel directory service team who will show you how your firm can be identified by those searching for conveyancing in Hendon.
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.
YearDays*
2013 38.3
* Data aggregated from sources including COMPLETIONmonitor

Recent Changes Include

# Date Assoc. Changes Related To
E.1 31/05/2018 BSA
C.12 23/06/2017 BSA
C.12 18/04/2016 BSA
A.10 11/08/2015 BSA
C.11 11/08/2015 BSA
D.34 11/08/2015 BSA
C.12 19/11/2014 BSA
A.12 30/01/2014 BSA
B.3 30/01/2014 BSA
C.12 04/03/2013 BSA

Last update 14/09/2019

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