Bank of Scotland Solicitor Panel Example Support Desk Enquires from members of the public
I appointed a solicitor to conveyancing on my remortgage 5 weeks ago having applied for a mortgage with Bank of Scotland. The firm reassured me that they are on Bank of Scotland conveyancing panel and advised me their panel reference. Bank of Scotland then told me that their panel number was dormant and would need to be reactivated. What happens next? Do I instruct a different law firm currently on the conveyancing panel for Bank of Scotland?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Bank of Scotland conveyancing panel You may wish to enlist the help of your broker to check with the Bank of Scotland as to the time frame to get your lawyer reinstated on the panel once again.
I am due to move into my new home next Friday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for Bank of Scotland. What risks do Bank of Scotland expect the insurance to cover?
Any lawyer on the Bank of Scotland conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Bank of Scotland’s Part 2 requirements of the CML Handbook (last updated on Bank of Scotland). Being on the Bank of Scotland conveyancing panel your lawyer is expect to follow these instructions.
Are there any apps to help find a local solicitor on the Bank of Scotland conveyancing panel? I have a car and am prepared to travel up to 20 kilometers to meet the lawyer.
Feel free to make use of the find a conveyancing panel search 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 Bank of Scotland solicitor panel.
What happens if my solicitor is expelled from the Bank of Scotland Solicitor panel in advance of the completion date?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Is there a list of Bank of Scotland panel conveyancers on the CML Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
I have agreed a price on a apartment I spoke to a lawyer recommended by my brother and he suggested instructing a solicitor approved by Bank of Scotland. The estate agent recommended two local firms so I asked Bank of Scotland if the 2 suggested solicitors are approved, which they are not. Bank of Scotland suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Bank of Scotland 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Bank of Scotland for conveyancing panel firms in your area. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Bank of Scotland 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 conveyancing panel as it may only take about 2-3 weeks. As long as they meet Bank of Scotland’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.
I recently had an offer accepted on an apartment. My financial adviser recommended their conveyancers I paid an upfront payment of 225. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Bank of Scotland conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Bank of Scotland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.