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approved by Bank of Scotland
Ready to buy a new home? Failing to check that a lawyer is on the Bank of Scotland list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Bank of Scotland Conveyancing Panel
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Much to my surprise I have been told by my mortgage broker that my solicitor is not on the Bank of Scotland Solicitor panel. How can I be sure that this is correct?
You need to contact your lawyer directly. You lawyer should advise you what has happened. If they are not on the panel they may recommend you to a firm that is on the the approved Bank of Scotland solicitor panel.
Our conveyancer has discovered a defect with the lease for the apartment we are buying. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the Bank of Scotland conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Bank of Scotland?
Just because you have a mortgage offer from Bank of Scotland does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Bank of Scotland are the client. These conveyancing instructions have to be complied with by the Bank of Scotland conveyancing panel who has to balance acting for you and Bank of Scotland
I require the services of a Bank of Scotland panel solicitor in Inverness. Can you assist?
It is not clear why you need a Bank of Scotland panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Bank of Scotland to find out which solicitors in Bank of Scotland are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
The lawyers that I recently instructed on my purchase in Hendon has without warning closed. I only went with them because I needed a firm on the Bank of Scotland conveyancing panel and my previous lawyer was not. I gave my credit card details for them to take £175 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Bank of Scotland conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help
Why might a lender such as Bank of Scotland withdraw a mortgage offer?
Lenders such as Bank of Scotland can revoke their mortgage offer although this rarely happens. In the unlikely event that Bank of Scotland withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are 5 examples:
- Where information comes to Bank of Scotland ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
- Where to proceed with the Mortgage offer would be unlawful
- Where the lender has to take account a recent change in taxation
- Where the sale is not at arms length for value to unconnected persons
The for formalities of my remortgage has taken place with a loan from Bank of Scotland. Conveyancing was satisfactory but I would like to complain about Bank of Scotland. How do I make a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the Bank of Scotland branches or the Customer Care Team at Bank of Scotland head office. In most cases complaints to Bank of Scotland are sorted out effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I have instructed a lawyer having checked that they are on the Bank of Scotland conveyancing panel. Does my lawyer arrange the survey of the property?
Or
I've read lots of house buying,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Bank of Scotland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Bank of Scotland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Scotland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
or
Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Bank of Scotland you could contact your them to see if they have a list of approved surveyors.