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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.
Looking for information about your firm's panel status?
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
Common questions asked concerning the New Life Mortgages Conveyancing Panel
On what basis could a firm of solicitors be removed from the New Life Mortgages approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by New Life Mortgages
I am purchasing a new build duplex and my conveyancer is informing me that she has to disclose incentives from the seller as her firm is on the New Life Mortgages conveyancing panel. I am nearing the developer’s deadline to exchange contracts and I dont want to prolong deal. Can I insist on an exchange regardless of what my lawyer says about being on the New Life Mortgages panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the New Life Mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on New Life Mortgages). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
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 right to buy flat 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.
Two weeks ago we had a mortgage agreed in principle with New Life Mortgages. Solicitors have been instructed? How long does it take for New Life Mortgages to send the offer to our conveyancer
Some lenders take longer than others. Have New Life Mortgages completed the survey? Have you advised New Life Mortgages as your lawyers details and checked that your lawyer is on the New Life Mortgages conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
Why might a lender such as New Life Mortgages withdraw a mortgage offer?
Lenders such as New Life Mortgages can withdraw their mortgage offer although this is unusual. In the unlikely event that New Life Mortgages withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a few examples:
- New Life Mortgages may amend or withdraw an offer if the New Life Mortgages conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- Where the lender has to take account a recent change in law
- If the lender reasonably suspects 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;
Completion of my purchase has taken place with a mortgage from New Life Mortgages. Conveyancing was satisfactory but I feel I should register my dissatisfaction about New Life Mortgages. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the New Life Mortgages branches or the Customer Services Team at New Life Mortgages head office. In most cases complaints to New Life Mortgages are resolved effectively and efficiently. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Other Topics
Transfer of Equity for New Life MortgagesPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors