FAQs for the Coutts & Co Solicitor Panel from members of the public
I am expecting a mortgage offer from Coutts & Co. I hope to employ the services of a Licensed Conveyancer. Does the Coutts & Co Conveyancing panel allow for Licensed Conveyancers
Coutts & Co’s conveyancing panel is, like many other lenders represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My husband and I changing mortgage lender for our flat with Coutts & Co. We have a son approaching twenty who lives with us. The solicitor on the Coutts & Co conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this form unique to the Coutts & Co conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Coutts & Co conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Coutts & Co .This is solely used to protect the Coutts & Co if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Coutts & Co had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Is it necessary during the course of the conveyancing process to visit the offices of the Coutts & Co conveyancing panel solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Bristol
so that I can attend their offices when needed.
As opposed to twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Bristol
.
I was due to complete on my first house last Thursday. My solicitor is on the Coutts & Co solicitors panel but has moved offices 8 weeks ago and had not informed Coutts & Co of their new address. Coutts & Co is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. The majority of 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 Coutts & Co branch or your mortgage broker to see if they can help.
My fiance and I are at the point of viewing flats and am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a mortgage with Coutts & Co
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Coutts & Co , make sure you remember to check that your lawyer is on the Coutts & Co conveyancing panel.
I have paid off my mortgage with Coutts & Co. I assume I don't need a solicitor on the Coutts & Co panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coutts & Co mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coutts & Co mortgage from the register. Coutts & Co,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Coutts & Co has sent the Land Registry the discharge electronically, and
the Coutts & Co has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Coutts & Co mortgage has been paid off.
I had an offer accepted on a house on the 17th January 2014, valuation was booked five days after, all came back fine. Conveyancer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Coutts & Co and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Coutts & Co conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Coutts & Co to deal with your lawyers application to be on the Coutts & Co conveyancing panel. There's no guarantee that your solicitors will be accepted.