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Ready to buy a new home? Failing to check that a lawyer is on the Coutts & Co list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Coutts Conveyancing Panel? How can my firm be reinstated onto the Coutts Conveyancing Panel?Find an Approved Solicitor on the Coutts Conveyancing Panel
FAQs for the Coutts & Co Solicitor Panel
My husband and I are buying a 1 bedroom flat in Hackney with a mortgage from Coutts & Co. We have a lawyer but Coutts & Co says she’s not on their "panel". We have to appoint one of the Coutts & Co panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Coutts & Co use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Coutts & Co conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Coutts & Co
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Coutts & Co will not agree to this. Why was Coutts & Co even consulted?
Your lawyer being on the Coutts & Co conveyancing panel is duty bound to inform Coutts & Co of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Coutts & Co then they would have to discontinue acting for you and Coutts & Co.
Whilst your website is a good idea there are many lawyers listed near Coventry on the Coutts & Co conveyancing panel. Can you recommend a specific firm on the Coutts & Co approved panel?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
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?
In theory, you could use a solicitor that is not on Coutts & Co conveyancing panel, but Coutts & Co would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Coutts & Co conveyancing panel requirements are different to Coutts & Co’s conveyancing panel requirements.
I have today made my last payment due on 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. Please confirm
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.
My offer was accepted on an apartment on the 5th January 2014, valuation was booked 2 days later, all came back fine. Property lawyer instructed, so all that was missing 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 an offer 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.
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