Coutts & Co Conveyancing Panel : Questions and Answers
from members of the public
My Solicitor has never been on on the Coutts & Co Conveyancing Panel. Can I still use my family solicitor notwithstanding that they are excluded from the Coutts & Co approved list?
You will need to have a conveyancer complete the legal work required when you take out a Coutts & Co mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Coutts & Co conveyancing panel additional costs will be incurred as separate legal representation will be required by Coutts & Co. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
I am purchasing a brand new duplex and my conveyancer is telling me that she is duty bound to reveal incentives from the builder as her firm is on the Coutts & Co conveyancing panel. I am on a tight deadline to exchange contracts and I dont want to delay deal. Can I insist on an exchange regardless of what my lawyer says about being on the Coutts & Co panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Coutts & Co approved panel is to comply with the CML Handbook requirements (last updated for this lender on Coutts & Co). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do all mortgage companies provide you with an approved list of solicitors? How do you know who is on the Coutts & Co conveyancing panel?
The firms themselves provide us confirmation that they are on the Coutts & Co conveyancing panel as opposed to being supplied with a list from Coutts & Co directly.
My uncle passed away last year and as sole heir and executor was left the house. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Coutts & Co , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Coutts & Co will insist on your using a conveyancer on the Coutts & Co conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Coutts & Co conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Coutts & Co mortgage is registered as a charge at the Land Registry.
What are the common reasons for a lender such as Coutts & Co to withdraw a mortgage offer?
Lenders such as Coutts & Co can revoke their mortgage offer although this rarely happens. If Coutts & Co withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a number of examples:
Where information comes to Coutts & Co ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
If the borrower informs Coutts & Co of a change in the loan amount agreed
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 taxation
If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
Can I register a complaint to Coutts & Co about the lawyers being on the Coutts & Co conveyancing panel?
There is little point in complaining directly to Coutts & Co. Every solicitor firm and conveyancer must have a complaints procedure. Usually one can find this 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.
My ex -wife’s name is on the Coutts & Co mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Coutts & Co mortgage in order to sell?
As regards the Coutts & Co mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Coutts & Co in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.