Coutts Finance Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Coutts Finance and to assist in remaining on the Coutts Finance Conveyancing Panel.

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Coutts Finance Solicitor Panel: Recently Asked Questions

Am I obliged, being on the Coutts Finance conveyancing panel, to carry out a LMO4 search?

Coutts Finance make no specific obligation to carry out any of the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must ensure that any other searches which may be appropriate to the particular property, taking into account its locality and other features are carried out’.

Please note that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Coutts Finance are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the borrower.

Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Is this covered within your Terms of Engagement or Report on Title?

A leading search provider lists over 65 property searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location contact your search provider or call one of the leading search companies such as Searches UK.

An established client of mine is purchasing a property for £825k in Liverpool requiring a mortgage advance over GBP 410k. I am on the Coutts Finance conveyancing panel but do Coutts Finance have a separate approved panel when a mortgage is above 350k?

We only know of two or three lenders that operate a separate approved solicitors panel where the mortgage advance is over a certain threshold. You should nevertheless check directly with Coutts Finance. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Coutts Finance

A recent SRA survey reveals that 76% of solicitors have been removed from a lender conveyancing panel. Coutts Finance and other lenders have restricted their panel over the years. Why?

In operating open conveyancing panels, lenders such as Coutts Finance face a number of fraud and negligence risks. While there is no authoritative source of data on lender exposure to solicitor–led mortgage fraud, anecdotal evidence from lenders indicates exposure on individual cases are often in the millions of pounds. The National Fraud Authority estimates that £1bn per year is lost in mortgage -related frauds in total, which is seen as a conservative estimate.

These risks are exacerbated by the lack of a comprehensive set of data on all conveyancing firms (which, for the avoidance of doubt, would include solicitors and conveyancers across the UK) which is in a readily accessible format. Currently, lenders vet the suitability of their panel firms against a variety of disparate, incomplete and potentially inaccurate sets of information. One top 5 lender pointed out to us that it is almost impossible to track individual fraudsters who move from firm to firm, especially where they are no longer registered or no longer hold a valid practicing certificate.

Coutts Finance and other lenders are in varying stages of reviewing their approach to vetting firms on their conveyancing panels, to ensure their ongoing exposure to unsuitable firms is reduced. There is also regulatory impetus on lenders to ensure that they have satisfactory oversight of their third party panels, including a due-diligence process.

I have been a solicitor for approximately 25 years with an exemplary claims record and have been refused acceptance on the Coutts Finance conveyancing panel with no explanation. Am I not entitled to a reason?

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 Coutts Finance conveyancing panel to see if you are entitled to a reason.

My post-completion clerk has left my firm on short notice. I urgently need to prioritise making sure that charges are registered. That said, how quickly do I need to send deeds to Coutts Finance once the charge is registered before my firm runs the risk of being suspended off the conveyancing panel for Coutts Finance?

Coutts Finance will likely expect the deeds to be sent to them within 10 days of you receiving the TID (unless their specific P2 requirements specifically state that they you are not to send them anything). Most COTs refer to complying with the Certificate of Title referred to in IB (3.7) of the SRA Code of Conduct 2011, published by the Law Society which states that you ‘will despatch to you such deeds and documents relating to the Property as you require with a list of them in the form prescribed by you within ten working days of receipt by us of the title information document from the Land Registry’ As to whether the lender will suspend your panel status this very much varies according to the lender’s own internal policies The more cases you have the more risk you face. Some lenders may take action if there records show that the deeds are outstanding for more than 3 matters. The fact is that if you keep within the time frame then you will have more chance of remaining on the Coutts Finance conveyancing panel.

JLT’s PII renewal form enquires if my practice had been excluded from any mortgage panels in the last 12 months. I recently found out that the practice is no longer on the Coutts Finance solicitor panel? Is this likely to impact my insurance?

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.

Our practice is on the Coutts Finance conveyancing panel and all set to complete a remortgage within the next few weeks. My papers do not include a Mortgage Deed for the client to execute. Who do I contact at Coutts Finance to request substitute deeds?

You need to communicate with Coutts Finance to obtain standard documents. The CML Handbook incorporates a specific section for banks to establish who to contact to obtain standard documents. Coutts Finance in their Part 2’s state:

You will need to quote your Coutts Finance conveyancing panel reference.

Find a Lawyer on the Coutts Finance Conveyancing Panel

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*
2026	[no data]
2025	[no data]
2024	[no data]
2023	[no data]
2022	[no data]
2021	[no data]

* Data aggregated from sources including COMPLETIONmonitor

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