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Scottish Building Society Conveyancing Panel : Questions and Answers
The lawyer my husband and I had intended to instruct on a remortgage said he would charge more if my mortgage is with Scottish Building Society due to their difficult processes! Will I regret using Scottish Building Society? Any comments will be appreciated
Scottish Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Scottish Building Society conveyancing panel. If they are not, this does add further risk of delay as Scottish Building Society will appoint their own solicitors to look after their interest.
My fiance and I are refinancing our apartment with Scottish Building Society. We have a son 18 who lives with us. The solicitor on the Scottish Building Society conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Scottish Building Society conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) Does our son by signing this giving up his rights 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 buying a property and require a conveyancing solicitor in Newcastle who is on the Scottish Building Society conveyancing. Can you recommend a local firm?
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, FTBs 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
I have today made my last payment due on 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.
I currently have a mortgage with with Scottish Building Society. Conveyancing was finalised 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Scottish Building Society?
Scottish Building Society must be informed of your intention before renting your property as this is likely to be a breach of Scottish Building Society’s mortgage conditions. It may be that Scottish Building Society will permit you to let 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. You need not do this via a Scottish Building Society conveyancing panel firm.
We are are purchasing a garden flat in Hendon. Conveyancing solicitors in Hendon are preferred to begiven the go-ahead. My brokeradvised that we check that the solicitor in Hendon is on the Scottish Building Society solicitors panel. Is this right?
It is not that case that all Hendon conveyancing solicitors are on the Scottish Building Society conveyancing panel. 7 people a month use our search tool to search for a Hendon conveyancing firm
on the on the Scottish Building Society list of approved conveyancing firms.