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approved by New Life Mortgages
Ready to buy a new home? Failing to check that a lawyer is on the New Life Mortgages list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the New Life Mortgages Ltd Conveyancing Panel? How can my firm be reinstated onto the New Life Mortgages Ltd Conveyancing Panel?Find an Approved Solicitor on the New Life Mortgages Ltd Conveyancing Panel
New Life Mortgages Conveyancing Panel : Questions and Answers
My Solicitor is not on the New Life Mortgages Conveyancing Panel. Is it possible for me to retain my family solicitor notwithstanding that they are not on the New Life Mortgages approved list?
You will need to have a conveyancer complete the legal work required when you take out a New Life Mortgages 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 New Life Mortgages conveyancing panel additional costs will be incurred as separate legal representation will be required by New Life Mortgages. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
We are only a couple days away from an exchange and my mum and dad having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender New Life Mortgages. Apparently, being on the New Life Mortgages conveyancing panel and acting on their behalf he must inform New Life Mortgages if the balance of the mortgage advance is not just from me. I disclosed to the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with New Life Mortgages to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to New Life Mortgages if you agree, failing which, your lawyer must cease to continue acting.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the New Life Mortgages conveyancing panel. My lawyer has said that they are on the New Life Mortgages approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the New Life Mortgages conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the New Life Mortgages solicitor panel.
I am buying a terraced house and getting a mortgage with New Life Mortgages. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the New Life Mortgages conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the New Life Mortgages conveyancing panel in your location.
Is it the case that all solicitor practices on the New Life Mortgages conveyancing panel regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the New Life Mortgages conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with New Life Mortgages. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with New Life Mortgages you will need to appoint a solicitor on the New Life Mortgages conveyancing panel.
I am selling my apartment. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, New Life Mortgages are being difficult. The solicitor who is on the New Life Mortgages conveyancing panel is recommending indemnity insurance as a solution but New Life Mortgages are requiring a building regulation certificate. Why do New Life Mortgages have a conveyancing panel of they don’t accept advice from them?
It is probably the case that New Life Mortgages have referred the matter to their valuer. The reason why New Life Mortgages 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.
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Transfer of Equity for New Life MortgagesPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors