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Coutts Finance Conveyancing Panel: Recently Asked Questions
Are Coutts Finance Conveyancing panel lawyers obliged to disclose incentives?
Coutts Finance’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements
my firm is on the Coutts Finance conveyancing panel. Can I get an archived copy of a Coutts Finance Part 2 from the CML?
The CML do not keep historic copies of P2 requirements Pre January 2011. We would recommend you make a request of Coutts Finance directly.
Is there a standard appeals process to prevent solicitors from being unfairly removed them from lender conveyancing panels?
We have come across many solicitors who feel they have been removed from lenders’ panels without an explanation or a good
reason. It is highly unlikely, given that lenders have distanced
themselves from creating a standardised appeals process for
brokers, that an appeals process will be introduced for
lawyers. Commenting on the call by brokers to have a standardised
process the CML said’ “While we understand that some lenders do have
an appeals process, it would not be appropriate for a trade body such
as the CML to seek to be prescriptive about such a process.” Some
lenders do of course set out an appeals policy. The Law Society does
have information on it’s site that may be of assistance. If you would
like to talk to one of our compliance experts about our Lender Panel
Protection Service please contact us.
It is possible that Coutts Finance could request or audit my files as I am on the
Coutts Finance conveyancing panel. Are there any confidentiality issues that I need to consider first?
We can't comment specifically on
Coutts Finance. Many major lenders are now introducing ‘file auditing’ as standard practice in relation to completed matters. This raises questions of confidentiality in relation to the borrower and the purpose to which the results of such audits will be put. The starting point is to remember that the file does not belong to your firm, it belongs to the ‘client’. But, of course, we will normally have two clients – the buyer and the lender - and you will owe a duty of confidentiality to each. So basically, you have to separate the file and just send the lender the parts solely relating to themselves. But, of course, as this will basically be correspondence with the lender, mortgage instructions etc.
Check with your COLP but a firm should not send the complete conveyancing file without the buyer client’s express consent – and if he is in dispute with the lender he is hardly likely to agree. However, if the lender can establish a prima facie case of fraud, then you may be under an obligation to disclose the whole file.
The emerging convention is that lenders are including an authority to disclose in loan application forms to counter this problem. Mortgage Express v Sawali, [2010] EWHC 3054 (Ch) indicates that such provisions are valid. Please click here for more information about that case.
My firm is on the
Coutts Finance conveyancing panel. I am dealing with
Coutts Finance mortgage on a purchase. My borrower client is asking not to disclose an issue to
Coutts Finance. What do I do in this conflict situation?
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.
Marsh’s PII renewal form asks if my firm had been excluded from any mortgage panels in the last year.
I recently became aware that the firm is no longer on the
Coutts Finance solicitor panel? Will that effect my PII premium?
The best placed professionals to answer this question are your insurance brokers.
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.
I am on the
Coutts Finance
conveyancing panel and due to complete a purchase within the next week. I dont have a Legal Charge for the client to execute.
Who do I contact at Coutts Finance to request substitute deeds?
You should contact Coutts Finance
to obtain standard documents. The CML Handbook includes an express inquiry for lenders to enumerate who to contact to obtain standard documents.
Coutts Finance in their Part 2’s state:
It is likely that you will need to quote the firm’s Coutts Finance solicitors panel reference.
Find a Lawyer on the Coutts Finance Conveyancing Panel
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Average number of days to register title including a charge in favour of Coutts Finance
This information relates to purchase only and not remortgages.
Year | Days* |
---|---|
2024 | [no data] |
2023 | [no data] |
2022 | [no data] |
2021 | [no data] |
2020 | [no data] |
2019 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
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- Draft Anti Money Laundering PolicyTemplate for Coutts Finance panel firms to consider
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