Find an Approved Solicitor on the Scottish Building Society
FAQs : The Scottish Building Society Solicitor Panel
I am hoping to receive a mortgage with Scottish Building Society. I hope to retain the legal services of a Licensed Conveyancer. Does the Scottish Building Society Solicitor panel exclude Licensed Conveyancers
Scottish Building Society’s approved solicitor list is, like many other lenders represented by the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
My nephew is about to exchange on a newly built flat with a home loan from Scottish Building Society. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Scottish Building Society conveyancing panel as a standard part of the process, and to the surveyor when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Scottish Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Scottish Building Society conveyancing panel. My lawyer has said that they are on the Scottish Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Scottish Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Scottish Building Society solicitor panel.
I would like to get my ex-wife removed the mortgage deeds. Can Scottish Building Society really insist on which solicitor I can or can not retain?
You can use any solicitor you like but Scottish Building Society then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Scottish Building Society solicitors panel
Why might a lender such as Scottish Building Society withdraw a mortgage offer?
Banks and Building Societies such as Scottish Building Society can revoke their mortgage offer although this is unusual. In the unlikely event that 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 a few examples:
If the borrower informs Scottish Building Society of a change in security address
Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Scottish Building Society conveyancing panel solicitors would be obliged to notify Scottish Building Society of a change in the price of the property.
A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
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
We were going to get a DIP from Scottish Building Society this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Scottish Building Society recommend a solicitor on the Scottish Building Society conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Scottish Building Society conveyancing panel. The solicitor represents both you and the Scottish Building Society through the process.
I have paid off my mortgage with Scottish Building Society. I assume I don't need a solicitor on the Scottish Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Scottish Building Society 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 Scottish Building Society mortgage from the register. Scottish Building Society,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 Scottish Building Society has sent the Land Registry the discharge electronically, and
the Scottish Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Scottish Building Society mortgage has been paid off.