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approved by Scottish BS
Ready to buy a new home? Failing to check that a lawyer is on the Scottish BS 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 Scottish Building Society Conveyancing Panel? How can my firm be reinstated onto the Scottish Building Society Conveyancing Panel?Find an Approved Solicitor on the Scottish Building Society Conveyancing Panel
Examples of recent questions relating to the Scottish Building Society Conveyancing Panel
On what basis could a law firm be removed from the Scottish Building Society solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been excluded from a lender panel. The most common 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 Scottish Building Society
My partner and I are refinancing our flat with Scottish Building Society. We have a son 18 who lives with us. The solicitor on the Scottish Building Society conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Scottish Building Society conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Scottish Building Society .This is solely used to protect the Scottish Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Scottish Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am planning to acquire a flat and need a conveyancing solicitor in Newcastle who is on the Scottish Building Society approved. Could you point me in the right direction as regards a solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Scottish Building Society . We don’t recommend any particular firm.
We're in London, First timers buying with a mortgage (lender is Scottish Building Society , but our solicitor is on the Scottish Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Scottish Building Society 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
My wife and I have arranged a further advance on our mortgage from Scottish Building Society as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Scottish Building Society conveyancing panel to deal with the legals?
Scottish Building Society would not normally appoint a member of their conveyancing panel 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 Scottish Building Society panel
In what circumstances might Scottish Building Society amend or withdraw their mortgage offer?
Lenders such as Scottish Building Society can withdraw their mortgage offer although this rarely happens. If Scottish Building Society withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are 5 examples:
- If the financial circumstances of the borrower have changed to the detriment and the Scottish Building Society has been notified
- 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 lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
- If the solicitor on the Scottish Building Society conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Scottish Building Society ‘s instructions
The mortgage over my property is with Scottish Building Society. Conveyancing has been completed months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Scottish Building Society?
Scottish Building Society must be informed of your intention prior to letting out your property as this is likely to be a breach of Scottish Building Society’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Scottish Building Society directly. It should not be necessary to do this via a Scottish Building Society conveyancing panel firm.