Frequently asked questions relating to the Bank of Scotland Conveyancing Panel from members of the public
I am in the process of selling my house and the EA has just called to advise that the purchasers are swapping law firm. The excuse is that Bank of Scotland will only engage with property lawyers on their conveyancing panel. Why would a leading mortgage company only work with specific lawyers?
UK lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders point to the increase 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.
My conveyancing solicitor has requested from me ID documents asserting that this is part of his requirements as a conveyancer on the Bank of Scotland 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 Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that Bank of Scotland 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 Bank of Scotland CML Handbook requirements last updated on Bank of Scotland
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Bank of Scotland conveyancing panel. My lawyer has said that they are on the Bank of Scotland approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Bank of Scotland conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Bank of Scotland solicitor panel.
I was expecting to complete on my dream home last Thursday. My solicitor is on the Bank of Scotland solicitors panel but has moved offices 8 weeks ago and had not informed Bank of Scotland of their new address. Bank of Scotland 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. Most 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 Bank of Scotland branch or your mortgage broker to see if they can assist.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Bank of Scotland have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Bank of Scotland your lawyer must to check the Bank of Scotland conveyancing instructions contained in the Part of CML Handbook for Bank of Scotland . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Bank of Scotland 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 brother and I have agreed a price on a house I spoke to a solicitor recommended by my mum and he recommended retaining a law firm 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 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 '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 to suggest a law firm in your location. 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.
The for formalities of my remortgage has taken place with a loan from Bank of Scotland. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Bank of Scotland. How does one go about formally complaining?
All lenders have complaints procedures. Your first port of call should be one of the Bank of Scotland branches or the Customer Care Department at Bank of Scotland head office. In most cases complaints to Bank of Scotland are sorted out very quickly. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service with full details of your complaint.