Coutts Finance Conveyancing Panel Information

Criteria differ from lender to lender. We do not hold specific requirements relating to the questions raised as part of the application to be on the Coutts Finance conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

SRA or equivalent regulator registration number where applicable

List of all those who fund the firm, including non-lawyers if applicable

List of all those staff who work within the conveyancing team

PII Cover details, including, if relevant, whether the firm is or has been in the assigned risks pool and structure of cover – basic

Number of lender conveyancing panels the firm is currently on

List of all Licensed Conveyancers within firm

Areas of Law covered by the firm

Full complaints history for each licensed conveyancer

Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers

Firm name, address and contact details including all branches (including evidence of existence through risk-based physical visits and Google Streetview checks)

The Council of Licensed Conveyancers has initiated discussions with lenders 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. We expect that that the CLC have been in touch with lenders such as Coutts Finance in recent years.

The key here is the caveat ‘more onerous’. You have to try and take an objective view as to whether the Terms relating to the Coutts Finance 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.

When a solicitor is acting for both Coutts Finance and borrower there is potential for conflicts to arise. You owe duties to both clients. All information received by you from your client is confidential and cannot be disclosed without the client’s consent. In the situation you find yourself in if the purchaser will not consent to the information being passed on to the lender the solicitor must cease to act for the Coutts Finance and it may well be prudent you to cease to act for the purchaser as well. You can not tell the Coutts Finance the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your Coutts Finance conveyancing panel status.

Your insurance brokers are your best port of call to address this question. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Coutts Finance solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You need to contact Coutts Finance to obtain standard documents. The The Council of Mortgage Lenders Handbook has a specific inquiry for banks to cite who to contact to obtain standard documents. Coutts Finance in their Part 2’s state: You will need to disclose your Coutts Finance solicitors panel number.