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approved by Coutts & Co
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.
Find an Approved Solicitor on the Coutts Conveyancing Panel
FAQs for the Coutts & Co Solicitor Panel
For what reasons could a law firm be removed from the Coutts & Co approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been removed from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Coutts & Co
Expecting to complete my purchase next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for Coutts & Co. What risks do Coutts & Co expect the insurance to cover?
Any lawyer 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 instructions.
I am looking to buy a flat and require a conveyancing solicitor in Leeds who is on the Coutts & Co conveyancing. Could you point me in the right direction as regards a conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Coutts & Co . We don’t recommend any particular firm.
We're in London, First timers purchasing with a mortgage (lender is Coutts & Co , but our solicitor is on the Coutts & Co conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coutts & Co conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Is it the case that all conveyancing lawyers on the Coutts & Co conveyancing panel work on a no move no charge basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Coutts & Co conveyancing panel requirements are different to Coutts & Co’s conveyancing panel requirements.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What do I do now? At what point should I appy for the mortgage with Coutts & Co?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Coutts & Co conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Coutts & Co and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.