Coutts & Co Solicitor Panel Example Support Desk Enquires from members of the public
I am progressing with the sale of my apartment and the estate agent has just called to say that the purchasers are switching property lawyer. The excuse is that Coutts & Co will only work with solicitors on their approved list. On what basis would a major lender only work with certain law firms?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks blame a rise in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
Our conveyancing solicitor has requested from me ID documents saying that this is part of his requirements as a conveyancer on the Coutts & Co Conveyancing panel. Can you confirm whether this is the case?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that Coutts & Co also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Coutts & Co CML Handbook requirements last updated on Coutts & Co
How do I search for a local solicitor on the Coutts & Co conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the lawyer.
You can use the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Coutts & Co solicitor panel.
I am considering applying for a Coutts & Co mortgage for purchase of a newly converted (under development) with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Coutts & Co?
There is nothing to stop you using your solicitor but Coutts & Co will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Two weeks ago we had a mortgage agreed in principle with Coutts & Co. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Coutts & Co?
Some lenders take longer than others. Have Coutts & Co done the survey? Have you advised Coutts & Co as your lawyers details and checked that your lawyer is on the Coutts & Co conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Coutts & Co have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Coutts & Co your lawyer must to check the Coutts & Co conveyancing instructions contained in the Part of CML Handbook for Coutts & Co . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Coutts & Co where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
My husband and I are taking a long lease of a flat in Hendon. Conveyancing solicitors in Hendon will soon begiven the go-ahead. My friendrecommended that we enquire that the property lawyer in Hendon is on the Coutts & Co approved list of lawyers. Is this really necessary?
It is not that case that all Hendon conveyancing practices are on the Coutts & Co conveyancing panel. Use the above search tool to locate a Hendon conveyancing firm on the on the Coutts & Co list of approved conveyancing firms.