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approved by Scottish BS
Ready to buy a new home? Failing to check that a lawyer is on the Scottish BS 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 Scottish Building Society Conveyancing Panel? How can my firm be reinstated onto the Scottish Building Society Conveyancing Panel?Find an Approved Solicitor on the Scottish Building Society Conveyancing Panel
Frequently asked questions relating to the Scottish Building Society Solicitor Panel
I am progressing with the sale of my flat and the EA has just texted me to warn that the purchasers are changing their conveyancer. The reason given is that Scottish Building Society will only deal with solicitors on their approved list. Why would a major lender only deal 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 Nationwide , have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 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 hearing daily from firms 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.
I am buying a brand new flat and my lawyer is informing me that she has to reveal incentives from the builder as her firm is on the Scottish Building Society conveyancing panel. I am under pressure to exchange contracts and I have no desire to prolong matters. Can I insist on an exchange regardless of what my lawyer says about being on the Scottish Building Society panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Scottish Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Scottish Building Society). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I note that you have a search directory identifying firms on the Scottish Building Society conveyancing panel. Do firms pay you a commission if I appoint them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Scottish Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am buying a semi-detached house and getting a mortgage with Scottish Building Society. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Scottish Building Society conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Scottish Building Society conveyancing panel in your location.
We expect to receive a DIP from Scottish Building Society this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Scottish Building Society recommend a solicitor on the Scottish Building Society conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Scottish Building Society conveyancing panel. The solicitor represents both you and the Scottish Building Society through the process.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Scottish Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Scottish Building Society you will need to appoint a solicitor on the Scottish Building Society conveyancing panel.
My ex -wife’s name is on the Scottish Building Society mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Scottish Building Society mortgage in order to sell?
In terms of the Scottish Building Society mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Scottish Building Society in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.