Bank of Scotland Private Conveyancing Panel : Questions and Answers from members of the public
I am progressing with the sale of my flat and the estate agent has just e-mailed to warn that the buyers are switching property lawyer. I am told that this is due to the fact that Bank of Scotland Private will only engage with property lawyers on their conveyancing panel. On what basis would a major lender only work with certain solicitors?
Banks have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders blame a rise in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
I am due to move into my new home next Monday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as he says that he has to check this in has capacity as lawyer for Bank of Scotland Private. What risks do Bank of Scotland Private expect the insurance to cover?
All property lawyers on the Bank of Scotland Private conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Bank of Scotland Private’s Part 2 requirements of the CML Handbook (last updated on Bank of Scotland Private). Being on the Bank of Scotland Private conveyancing panel your lawyer is expect to follow these instructions.
Do all the firms listed on your search have online case tracking as I understood that this was a condition of being on the Bank of Scotland Private conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I am buying a terraced house and getting a mortgage with Bank of Scotland Private. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Bank of Scotland Private 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 Bank of Scotland Private conveyancing panel in your location.
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Bank of Scotland Private conveyancing panel requirements are different to Bank of Scotland Private’s conveyancing panel criteria.
Can I register a complaint to Bank of Scotland Private about the lawyers being on the Bank of Scotland Private conveyancing panel?
Complaining to Bank of Scotland Private about their conveyancing panel is unlikely to yield much of a response. All solicitors and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is properly dealt with by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
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 buyer's lender, Bank of Scotland Private are being pedantic. The solicitor who is on the Bank of Scotland Private conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Bank of Scotland Private are requiring a building regulation certificate. Why do Bank of Scotland Private have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Bank of Scotland Private have referred the matter to their valuer. The reason why Bank of Scotland Private 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.