Bank of Scotland Private Solicitor Panel Recently Asked Questions from members of the public
A conveyancer my fiance and I had intended to instruct on a purchase said she will levy higher legal fees if my lender is due to their unusual legal requirements. Will I regret using Bank of Scotland Private? Is Bank of Scotland Private conveyancing so much more difficult?
Bank of Scotland Private conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Bank of Scotland Private conveyancing panel. If they are not, this does add further risk of delay as Bank of Scotland Private will appoint their own solicitors to look after their interest.
I am purchasing a newly constructed flat and my solicitor is advising me that she has to reveal incentives from the builder as her firm is on the Bank of Scotland Private conveyancing panel. I am nearing the developer’s deadline to sign contracts and I would rather not delay the conveyancing. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition 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). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I have been Googling for conveyancing quotes online. Can I be confident that all the practices that are identified on your directory are on the Bank of Scotland Private conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have assured us via an online form that they are on the Bank of Scotland Private panel and agreed to advise us to take down their listing in the event of removal off of the Bank of Scotland Private 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 Bank of Scotland Private conveyancing panel is not accurate.
We're in Wales, First time buyers purchasing with a mortgage (lender is Bank of Scotland Private , but our lawyer is on the Bank of Scotland Private conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bank of Scotland Private conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Do conveyancing solicitors on the Bank of Scotland Private conveyancing panel work on a no sale no fee basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
How can we tell if a solicitor on the Bank of Scotland Private panel is any good?
obtaining recommendations is a good start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer handling your transaction
After shopping around on the internet I have found a solicitor having made sure that they are on the Bank of Scotland Private conveyancing panel. Does my lawyer arrange the survey of the property?
Or
Having digested plenty of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Bank of Scotland Private conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Bank of Scotland Private will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Scotland Private will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
or
Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Bank of Scotland Private you could contact your them to see if they have a list of approved surveyors.