Frequently asked questions relating to the Scottish Building Society Solicitor Panel
from members of the public
I am obtaining a mortgage offer from Scottish Building Society. my intention is to instruct a Licensed Conveyancer. Does the Scottish Building Society Conveyancing panel exclude Licensed Conveyancers
Scottish Building Society’s approved solicitor list is, like many other lenders associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
We are approaching an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Scottish Building Society. I am advised that, being on the Scottish Building Society conveyancing panel and acting on their behalf he must inform Scottish Building Society if the balance of the mortgage advance is coming from anyone other than me. I advised the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Scottish Building Society to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Scottish Building Society if you agree, failing which, your lawyer must cease to continue acting.
I am looking to buy a house and require a conveyancing solicitor in Newcastle who is on the Scottish Building Society solicitor. Can you recommend a local conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Scottish Building Society . We don’t recommend any particular firm.
I am considering applying for a Scottish Building Society mortgage for purchase of a newly converted (under development) with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Scottish Building Society?
There is nothing to stop you using your solicitor but Scottish Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
When it comes to mortgage companies such as Scottish Building Society do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Is there a list of Scottish Building Society panel solicitors on the Council of Mortgage Lender’s 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 previously instructed online solicitors based in Birmingham who are on the Scottish Building Society solicitor panel. They have just invoiced me a separate fee of £175 for the legal aspects of the Scottish Building Society mortgage. Is this an additional conveyancing fee specified by Scottish Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Scottish Building Society but by your lawyers. Some firms on the Scottish Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.