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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.
Find an Approved Solicitor on the Scottish Building Society Conveyancing Panel
Scottish Building Society Conveyancing Panel Example Support Desk Enquires
On what basis could a law firm be removed from the Scottish Building Society approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been removed from a lender panel. The most common reasons in order are :
- Low volume 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 solicitor has requested from me personal identification documents stating that this is part of his retainer as a conveyancer on the Scottish Building Society Solicitor panel. Can this be correct?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Scottish Building Society your lawyer also has to check ID documents to satisfy Scottish Building Society
Is it necessary during the course of the conveyancing process to visit the offices of the Scottish Building Society conveyancing panel solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Newcastle
so that I can pop in to their offices when needed.
Whereas this was necessary 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Newcastle
.
We're in Birmingham, 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
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Scottish Building Society conveyancing panel?
Some major banks and building societies now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
I am selling my flat. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Scottish Building Society are being problematic. The solicitor who is on the Scottish Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Scottish Building Society are insisting on a building regulation certificate. Why do Scottish Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Scottish Building Society have referred the matter to their valuer. The reason why Scottish Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
Scottish Building Society 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 Scottish Building Society or your broker and complete any relevant paperwork. Scottish Building Society will tell you what documents they want. Scottish Building Society 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. Scottish Building Society 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.