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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
Scottish Building Society Conveyancing Panel Recently Asked Questions
I am in the process of selling my house and the EA has just telephoned to warn that the purchasers are switching law firm. The excuse is that Scottish Building Society will only deal with property lawyers on their approved list. Why would a major mortgage company only engage with certain lawyers?
Mortgage companies have always had an approved set 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.
Banks blame a rise in fraud as the reason 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 lawyer is asking me for ID documents stating that this forms part of his obligations as a solicitor on the Scottish Building Society Solicitor panel. Am I being spun a yarn?
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 Scottish Building Society 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 Scottish Building Society CML Handbook requirements last updated on Scottish Building Society
Whilst your website is a good idea there are many lawyers listed near Leeds on the Scottish Building Society conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Scottish Building Society ?
We do not recommend specific firms 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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I am selling my house. Does my solicitor have to be on the Scottish Building Society conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Scottish Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I have decided to exercise my right to buy my property off the council. I have a mortgage offer with Scottish Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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.
The for formalities of my purchase has taken place with a loan from Scottish Building Society. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Scottish Building Society. How does one go about formally complaining?
Most lenders have complaints procedures. Your first point of contact should be one of the Scottish Building Society branches or the Customer Services Department at Scottish Building Society head office. Ordinarily complaints to Scottish Building Society are sorted out very quickly. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
My brother and I are acquiring a terraced house in Hendon. Conveyancing solicitors in Hendon are preferred to beretained. My brother-in-lawrecommended that we double-check that the conveyancing practitioner in Hendon is on the Scottish Building Society approved list of lawyers. Surely I don't need to do this, do I?
A limited percentage of Hendon conveyancing firms are on the Scottish Building Society conveyancing panel. 7 people a month use our search tool to find a Hendon conveyancing lawyer on the on the Scottish Building Society solicitors pane.