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 solicitors .

As is the case with the Law Society the CLC has begun discussions with banks and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. It is likely that that the CLC have been in touch with lenders such as Bank of Scotland Private as well as the BSA.

The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Bank of Scotland Private as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Bank of Scotland Private we suggest that you call Bank of Scotland Private to check the position.

In the same way that there is a unique Bank of Scotland Private conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

It would be advisable to 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 CQS team a complete picture of what has happened.

You should communicate with Bank of Scotland Private to obtain standard documents. The The Council of Mortgage Lenders Handbook has an explicit question for banks to reveal who to contact to obtain standard documents. Bank of Scotland Private in their Part 2’s state: Always remember to quote your Bank of Scotland Private solicitors panel reference.