Bank of Scotland Conveyancing Panel Information

One might ordinarily expect Bank of Scotland via their Part Two requirements to address this but the Handbook makes no mention on deadlines to send deeds. You need to look at the Terms of Bank of Scotland’s Conveyancing Panel Appointment that you are bound by. For many lender's these Terms have a clause along the following lines: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is important to keep Bank of Scotland updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

During 2013, 85 sections of the UK Finance Lenders’ Handbook P2 were changed by Bank of Scotland. Some changes are more important than others but as a firm on the Bank of Scotland conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations. You have to try and take an objective view as to whether the Terms relating to the Bank of Scotland conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.

You should supply details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not adversely impact your firm’s application but gives the Law Society viability as to what has occured.

You need to communicate with Bank of Scotland to obtain standard documents. The CML Handbook includes an explicit question for banks to cite who to contact to obtain standard documents. Bank of Scotland in their Part 2’s state: Don’t forget to disclose your Bank of Scotland solicitors panel reference.