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Newcastle Building Society Conveyancing Panel : Questions and Answers
My lawyer is not on the Newcastle Building Society Solicitor Panel. Can I still continue with my preferred solicitor notwithstanding that they are excluded from the Newcastle Building Society list of approved lawyers?
You will need to have a conveyancer complete the legal work required when you take out a Newcastle Building Society mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Newcastle Building Society conveyancing panel additional costs will be incurred as separate legal representation will be required by Newcastle Building Society. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
Please assist. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Newcastle Building Society was issued random date and we have agreed a date for me to move into the property on 6 months + 3. My lawyer says that as she is on the Newcastle Building Society conveyancing panel she needs to redo the searches as they are no longer valid.
A precondition to being on the Newcastle Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Newcastle Building Society)which states that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Newcastle Building Society.
I have been Googling for conveyancing quotes online. Can I be assured that all the firms that are listed on your directory are on the Newcastle Building Society conveyancing panel?
The law firms on our directory have advised us that they are on the Newcastle Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Newcastle Building Society panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Newcastle Building Society conveyancing panel is not accurate.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Newcastle Building Society Conveyancing panel in advance of completion?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Newcastle Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Newcastle Building Society your lawyer must to check the Newcastle Building Society conveyancing instructions contained in the Part of CML Handbook for Newcastle Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Newcastle Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
I have had an offer accepted on a flat I spoke to a lawyer previously used by my mum and he suggested retaining a law firm approved by Newcastle Building Society. The estate agent recommended two local firms so I asked Newcastle Building Society if the 2 suggested solicitors are approved, which they are not. Newcastle Building Society suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Newcastle Building Society 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Newcastle Building Society to suggest a law firm in your location. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Newcastle Building Society conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Newcastle Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Newcastle Building Society’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
I am due to exchange contracts on my house. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Newcastle Building Society are being a right pain. The solicitor who is on the Newcastle Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Newcastle Building Society are insisting on a building regulation certificate. Why do Newcastle Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Newcastle Building Society have referred the matter to their valuer. The reason why Newcastle Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.