Common questions asked concerning the Bank of Scotland Private Conveyancing Panel from members of the public
What is the rationale as to why all UK lawyers are not on the Bank of Scotland Private Conveyancing panel?
Bank of Scotland Private and other mortgage companies ordinarily imposes restrictions either the type or the number of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Bank of Scotland Private have no responsibility for the quality of advice provided by any member of Bank of Scotland Private Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
Please assist. For no fault of my lawyer but, my purchase conveyancing has been going on for months. The Local Authority Search from Bank of Scotland Private was dated random date and we have agreed a date for me to move into the property on Tues etc. My lawyer has advised that as she is on the Bank of Scotland Private conveyancing panel she needs to redo the searches as they are no longer acceptable to the lender.
One of the many conditions to being on the Bank of Scotland Private approved panel is to comply with the CML Handbook requirements (last updated for this lender on Bank of Scotland Private)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 Bank of Scotland Private.
I see that you have a post code search directory identifying firms on the Bank of Scotland Private conveyancing panel. Do firms pay you a commission if I retain them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Scotland Private conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I was due to complete on my first house two days ago. My solicitor is on the Bank of Scotland Private conveyancing panel but has moved offices in the past couple of months and had not advised Bank of Scotland Private of their new address. Bank of Scotland Private is now refusing to release my funds as the information from the solicitors isn't correct.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Bank of Scotland Private branch or your mortgage broker to see if they can assist.
I am currently in the process of buying my council flat. I have a mortgage agreed with Bank of Scotland Private. Conveyancing is new to me. 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 Bank of Scotland Private you will need to appoint a solicitor on the Bank of Scotland Private conveyancing panel.
The for formalities of my remortgage has taken place with a mortgage from Bank of Scotland Private. Conveyancing was a necessary evil but I would like to complain about Bank of Scotland Private. How do I make a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the Bank of Scotland Private branches or the Customer Care Team at Bank of Scotland Private head office. We understand that complaints to Bank of Scotland Private are resolved effectively and efficiently. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service with full details of your complaint.
I can not work out if my mortgage offer requires a lease extension . I have called into my local branch Bank of Scotland Private on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Bank of Scotland Private conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Bank of Scotland Private. Unless your lawyer obtains specific confirmation in writing that Bank of Scotland Private will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Bank of Scotland Private to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.