Bank of Scotland Private Conveyancing Panel Information

The fact of the matter is that estate agents will be suffering if their clients start out on the buying process using a conveyancer who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change lawyers.

You might expect Bank of Scotland Private via their Part Two obligations 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 Private’s Conveyancing Panel Appointment that you previously signed. For a number of banks these Terms have a provision 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 Private informed. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

In order to be on the Bank of Scotland Private conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Bank of Scotland Private) are as follows:

• To forward the title deeds and documents to another solicitor/conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
• To quote on all communications with us relating to deeds/registration issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
• Without prejudice to your obligation to comply in full with the Safeguards provisions in the CML Lenders’ Handbook, to report to us as soon as possible any suspicion that you have about the genuineness of any transaction in any respect.
• You have the consent of all borrowers to apply for the deeds, before making any request for deeds. We will accept your request for deeds on the understanding that you have obtained such consent. If this is not the case then you should advise our Deeds Services Department in writing when you make your request
• That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.

For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Bank of Scotland Private conveyancing panel to see if you are entitled to a reason.

We would recommend that you provide 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 application but gives the Law Society a complete picture of what has occured.

You need to contact Bank of Scotland Private to obtain standard documents. The CML Handbook contains an explicit section for banks to set out who to contact to obtain standard documents. Bank of Scotland Private in their Part 2’s state: Don’t forget to disclose the firm’s Bank of Scotland Private solicitors panel reference.