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approved by Scottish Widows
Ready to buy a new home? Failing to check that a lawyer is on the Scottish Widows 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 Widows Bank plc Conveyancing Panel? How can my firm be reinstated onto the Scottish Widows Bank plc Conveyancing Panel?Find an Approved Solicitor on the Scottish Widows Bank plc Conveyancing Panel
Q and A’s regarding the Scottish Widows Conveyancing Panel
I would like to know the reason why all property lawyers aren't included on the Scottish Widows Solicitor panel?
Even though it may seem unfair for Scottish Widows to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern Scottish Widows have restricted their panel of approved conveyancing lawyers to a manageable size. The Scottish Widows solicitor panel is not the smallest
Our lawyer has identified a legal deficiency with the lease for the flat we are purchasing. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer says that as he is on the Scottish Widows conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Scottish Widows?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Scottish Widows are the client. A precondition to being on the Scottish Widows approved panel is to comply with the CML Handbook requirements (last updated for this lender on Scottish Widows). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Scottish Widows 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.
Is it necessary during the course of the conveyancing process to visit the offices of the Scottish Widows conveyancing panel solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Newcastle
so that I can pop in to their offices if necessary.
As opposed to 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
.
My conveyancers in Leeds have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with Scottish Widows. Is it case that being on the Scottish Widows conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Scottish Widows Conveyancing Panel Terms. It might be worth you contacting Scottish Widows directly.
Last month we had a mortgage agreed in principle with Scottish Widows. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Scottish Widows?
There is no definitive answer here. Have Scottish Widows completed the survey? Have you advised Scottish Widows as your lawyers details and checked that your lawyer is on the Scottish Widows conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
My offer was accepted on a house on the 17th January 2014, valuation was booked 4 days after, all came back fine. Conveyancer retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Scottish Widows and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Scottish Widows conveyancing panel. Are Scottish Widows entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Scottish Widows to deal with your lawyers application to be on the Scottish Widows conveyancing panel. There's no guarantee that your solicitors will be accepted.
My ex -wife’s name is on the Scottish Widows mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Scottish Widows mortgage in order to sell?
In terms of the Scottish Widows mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Scottish Widows in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
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Transfer of Equity for Scottish WidowsPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors