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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.
Looking for information about your firm's panel status?Is my firm on the Bank of Scotland Conveyancing Panel? How does my firm apply to be on the Bank of Scotland Conveyancing Panel? How can my firm be reinstated onto the Bank of Scotland Conveyancing Panel?
Find an Approved Solicitor on the Bank of Scotland Conveyancing Panel
Common questions asked concerning the Bank of Scotland Solicitor Panel
I would like to know the reason why all property lawyers aren't included on the Bank of Scotland Conveyancing panel?
Even though it may seem unfair for Bank of Scotland to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern Bank of Scotland have restricted their panel of approved conveyancing lawyers to a manageable size. The Bank of Scotland solicitor panel is not the most exclusive of all lenders
Expecting to complete my purchase next Monday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for Bank of Scotland. What risks do Bank of Scotland expect the insurance to cover?
All property lawyers on the Bank of Scotland 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 Bank of Scotland’s Part 2 requirements of the CML Handbook (last updated on Bank of Scotland). Being on the Bank of Scotland conveyancing panel your lawyer is expect to follow these requirements.
Your search tool is useful but there are many lawyers listed near Hackney on the Bank of Scotland conveyancing panel. Can you recommend a specific firm on the conveyancing panel for Bank of Scotland ?
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. 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..
Can you clarify what the consequences are if my solicitor is suspended from the Bank of Scotland Solicitor 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.
I recently had an offer accepted on an apartment. My mortgage broker recommended their conveyancers I paid an upfront payment of 150. Soon after the conveyancers contacted me to say that they were not on the Bank of Scotland conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Bank of Scotland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My ex -wife’s name is on the Bank of Scotland 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 Bank of Scotland mortgage in order to sell?
In terms of the Bank of Scotland 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 Bank of Scotland 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.
Bank of Scotland have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Bank of Scotland or your broker and complete any relevant paperwork. Bank of Scotland will tell you what documents they want. Bank of Scotland will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Bank of Scotland will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.