Find a Law Firm
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 Solicitor Panel Example Support Desk Enquires
On what basis would a firm of solicitors be removed from the Scottish Building Society solicitor 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 :
- 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
Our lawyer has identified a legal deficiency with the lease for the flat we are purchasing. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer says that as he is on the Scottish Building Society conveyancing panel he must check that the lender is happy with this solution. Are we the client or is Scottish Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Scottish Building Society are the client. A precondition to being on the Scottish Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Scottish Building Society). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Scottish Building Society can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Do banks and building societies provide you with an approved list of solicitors? How do you know who is on the Scottish Building Society conveyancing panel?
The firms themselves provide us confirmation that they are on the Scottish Building Society conveyancing panel as opposed to being supplied with a list from Scottish Building Society directly.
My aunt passed away 10 months ago and as sole heir and executor was left the property. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Scottish Building Society , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Scottish Building Society will insist on your using a conveyancer on the Scottish Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Scottish Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Scottish Building Society mortgage is registered as a charge at the Land Registry.
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 membership 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 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. Am I right?
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 am due to exchange contracts on my house. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Scottish Building Society are being a right pain. The solicitor who is on the Scottish Building Society conveyancing panel is saying indemnity insurance will be fine but Scottish Building Society are requiring 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.