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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.
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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
FAQs for the Bank of Scotland Conveyancing Panel
How easy is it to change a solicitor as I need to find one who is on the Bank of Scotland conveyancing panel. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
Expecting to move into my new home next Tuesday. 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 does the insurance need 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.
Are there any apps to help find a local solicitor on the Bank of Scotland conveyancing panel? I have a car and am prepared to travel up to 10 kilometers to meet the solicitor.
You can use the find a conveyancing panel search on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Bank of Scotland solicitor panel.
My aunt passed away 10 months ago and as sole heir and executor was left the house. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Bank of Scotland , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Bank of Scotland will insist on your using a conveyancer on the Bank of Scotland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Scotland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Scotland mortgage is registered as a charge at the Land Registry.
My wife and I have arranged a further advance on our mortgage from Bank of Scotland as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Bank of Scotland conveyancing panel to deal with the legals?
Bank of Scotland would not normally instruct a member of their approved list of lawyers 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 Bank of Scotland list
I am about to exchange contracts on a purchase with a mortgage from Bank of Scotland. The report from my solicitor mentions that Bank of Scotland could withdraw their offer before completion. Is this right?
Banks and Building Societies such as Bank of Scotland can revoke their mortgage offer although this rarely happens. should Bank of Scotland withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a few examples:
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Following advice from the property assessor on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
- Where the sale is not at arms length for value to unconnected persons
- Where the Lender’s right to possession is fettered in some way
- If the solicitor on the Bank of Scotland conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Bank of Scotland ‘s instructions
I had an offer accepted on a property on the 17th February 2014, valuation was booked 4 days later, received a clean bill of health. Property lawyer instructed, so all that was missing was my mortgage offer. Having made daily calls to Bank of Scotland and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Bank of Scotland conveyancing panel. Are Bank of Scotland entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Bank of Scotland to deal with your lawyers application to be on the Bank of Scotland conveyancing panel. There's no guarantee that your solicitors will be accepted.
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Transfer of Equity for Bank of ScotlandPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors