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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
Q and A’s regarding the Coutts & Co Conveyancing Panel
I appointed a solicitor to conduct the legal paperwork on my purchase 4 weeks ago having applied for a mortgage with Coutts & Co. The firm confirmed to me that they are on Coutts & Co conveyancing panel and advised me their panel reference. Coutts & Co then told me that their panel number was dormant and would need to be reactivated. What happens next? Do I instruct a different law firm listed on the approved panel for Coutts & Co?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Coutts & Co conveyancing panel You may wish to enlist the help of your broker to check with the Coutts & Co as to how long they think it will take to get the firm to get back on the panel.
Expecting to move into my new home next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in has capacity as lawyer for Coutts & Co. What risks do Coutts & Co expect the insurance to cover?
All property lawyers on the Coutts & Co conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Coutts & Co’s Part 2 requirements of the CML Handbook (last updated on Coutts & Co). Being on the Coutts & Co conveyancing panel your lawyer is expect to follow these requirements.
Whilst your website is a good idea there are many lawyers listed near Manchester on the Coutts & Co conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Coutts & Co ?
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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
Please explain the implications if my lawyer’s firm is suspended from the Coutts & Co Conveyancing panel before the completion date?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Are all Conveyancing Quality Solicitors on the Coutts & Co conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
My wife and I have arranged a further advance on our mortgage from Coutts & Co as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Coutts & Co conveyancing panel to deal with the legals?
Coutts & Co do not ordinarily appoint firms on their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Coutts & Co list
My ex -wife’s name is on the Coutts & Co 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 Coutts & Co mortgage in order to sell?
In terms of the Coutts & Co 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 Coutts & Co 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.
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