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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.
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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
Coutts & Co Solicitor Panel Example Support Desk Enquires
I am getting a mortgage offer from Coutts & Co. I intend to instruct a Licensed Conveyancer. Does the Coutts & Co Solicitor panel exclude Licensed Conveyancers
Coutts & Co’s approved solicitor list is, like many other lenders represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My conveyancer has uncovered an inconsistency when comparing the assumptions in Coutts & Co’s home valuation report and what is revealed within the legal papers for the property. My solicitor says that as he is on the Coutts & Co conveyancing panel he is duty bound to ensure that the lender is with this discrepancy and is still content to lend. Is my conveyancer’s approach right?
A precondition to being on the Coutts & Co approved panel is to comply with the CML Handbook requirements (last updated for this lender on Coutts & Co) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Coutts & Co conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
What happens if my solicitor is removed from the Coutts & Co Solicitor panel in advance of 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.
Is there a list of Coutts & Co panel conveyancers on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
In what circumstances might Coutts & Co amend or withdraw their mortgage offer?
Lenders such as Coutts & Co can revoke their mortgage offer although this is unusual. should Coutts & Co 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:
- Where information comes to Coutts & Co ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- Coutts & Co may amend or withdraw an offer if the Coutts & Co conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- If the financial circumstances of the borrower have changed to the detriment and the Coutts & Co has been notified
- Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Coutts & Co conveyancing panel solicitors would be obliged to notify Coutts & Co of a change in the price of the property.
- Where to proceed with the Mortgage offer would be unlawful
I have paid off my mortgage with Coutts & Co. I assume I don't need a solicitor on the Coutts & Co panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coutts & Co mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coutts & Co mortgage from the register. Coutts & Co,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Coutts & Co has sent the Land Registry the discharge electronically, and
the Coutts & Co has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Coutts & Co mortgage has been paid off.
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