Common questions asked concerning the Bank of Scotland Private Conveyancing Panel from members of the public
My fiance and I are hoping to buy a 2 bedroom flat in Leeds with a mortgage from Bank of Scotland Private. We have a lawyer but Bank of Scotland Private says he's not on their "panel". It seems we have little choice but to instruct one of the Bank of Scotland Private panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Bank of Scotland Private use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Bank of Scotland Private conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Bank of Scotland Private
My conveyancer has identified an inconsistency between the surveyor’s assumptions in Bank of Scotland Private’s valuation survey and what is revealed within the legal papers for the property. My lawyer informs me that as he is on the Bank of Scotland Private conveyancing panel he must ensure that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action legitimate?
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) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am buying a flat and require a conveyancing solicitor in Leeds who is on the Bank of Scotland Private approved. Could you point me in the right direction as regards a conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Bank of Scotland Private . We don’t recommend any particular firm.
I am selling my house. Does my solicitor have to be on the Bank of Scotland Private conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Bank of Scotland Private conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Are all Conveyancing Quality Solicitors on the Bank of Scotland Private conveyancing panel?
A selection of lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
I previously instructed online solicitors based in Manchester who are on the Bank of Scotland Private solicitor panel. They have just invoiced me a separate fee of £195 for the legal aspects of the Bank of Scotland Private mortgage. Is this a supplemental conveyancing fee specified by Bank of Scotland Private?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Bank of Scotland Private but by your lawyers. Some firms on the Bank of Scotland Private will charge an ‘acting for lender’ fee and others do not.
We have had an offer accepted on a apartment I spoke to a lawyer previously used by my brother and he recommended using a law firm approved by Bank of Scotland Private. The estate agent recommended two local firms so I asked Bank of Scotland Private if the 2 suggested solicitors are approved, which they are not. Bank of Scotland Private pointed out that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Bank of Scotland Private 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Bank of Scotland Private for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Bank of Scotland Private conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Bank of Scotland Private conveyancing panel as it may only take about 2-3 weeks. As long as they meet Bank of Scotland Private’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.