Coutts & Co Conveyancing Panel Information

Section 16.2.1 of Part 1 of the Handbook relevant to a solicitor on the Coutts & Co conveyancing panel reads ‘Our mortgage secures further advances. Consequently, when a further advance is required for alterations or improvements to the property we will not normally instruct a member of our conveyancing panel but if you are instructed the appropriate provisions of this Handbook will apply’.

Each lender has different criteria. We do not hold specific requirements relating to the questions raised as part of the application to be on the Coutts & Co conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Automated alerting to inform lenders when there is a fundamental change to the firm (e.g. change of name)

Full disciplinary history for each licensed conveyancer

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

Number of lender conveyancing panels the firm is currently on

SRA or equivalent regulator registration number where applicable

Full complaints history for each licensed conveyancer

Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.

Full complaints history for each conveyancing solicitor

Whether any lender has ever made a claim against the firm’s PII cover

Whether the firm is able to operate in other jurisdictions

The CLC has entered 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 Coutts & Co as well as the BSA.

Please tread carefully here as what you are suggesting may not be acceptable to the lender. It is possible that you (as a non-panel firm) or the mortgage applicant are not at liberty instruct a panel firm of your choice. An increasing amount of lenders are making it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender will appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer. You also need to make the costs implications and potential for delay very clear to your client.

In this situation please clarify on the form what action you have taken to find out the reasons behind cancellation of your Coutts & Co panel status. In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?

You need to communicate with Coutts & Co to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an individual inquiry for lenders to enumerate who to contact to obtain standard documents. Coutts & Co in their Part 2’s state: Please remember to disclose the firm’s Coutts & Co solicitors panel reference.