Bank of Scotland Conveyancing Panel Information

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

Bank of Scotland Conveyancing Panel: Recently Asked Questions

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Does the fact that my firm has signed up to LENDERmonitor Alerts assist in my application to join the Bank of Scotland conveyancing panel?
The requirements to join the Bank of Scotland conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
Am I obliged, being on the Bank of Scotland conveyancing panel, to carry out a LMO4 search?
Bank of Scotland 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 Bank of Scotland 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 client.

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 supplier lists over 72 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 call your search provider or call one of the leading search companies such as Searchflow.

Being on the Bank of Scotland conveyancing panel how long am I obliged to retain the original conveyancing file?
The Council of Mortgage Lender requirements of Bank of Scotland are silent on this. Most lenders address the issue of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for a minimum six years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Bank of Scotland’s interest. To be absolutely sure of Bank of Scotland requirements in this regard please check the Terms and Conditions of Bank of Scotland’s conveyancing panel appointment.
A recent SRA survey reveals that 76% of solicitors have been removed from a lender conveyancing panel. Bank of Scotland and other lenders have restricted their panel over the years. Why?
In operating open conveyancing panels, lenders such as Bank of Scotland 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.

Bank of Scotland 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.

My firm has just been advised that it’s Bank of Scotland panel membership suspended but we have not yet been given a reason as to why. I am completing a CQS renewal form what information must I put forward?
In this situation please explain on the form what steps you have taken to find out the reasons behind cancellation of your Bank of Scotland panel status. In particular please provide details if you have received communications from the lender. E.G. before revocation of your panel membership did you receive any letters or calls from the lender putting you on notice?
I am on the Bank of Scotland conveyancing panel and all set to complete a purchase within the next week. My papers do not include a Legal Charge for the client to execute. Who do I contact at Bank of Scotland to obtain duplicate documents?
You should contact Bank of Scotland to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an individual question for lenders to cite who to contact to obtain standard documents. Bank of Scotland in their Part 2’s state:
It is likely that you will need to quote the firm’s Bank of Scotland conveyancing panel number.

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Average number of days to register title including a charge in favour of Bank of Scotland
This information relates to purchase only and not remortgages.
YearDays*
2025 [no data]
2024 [no data]
2023 [no data]
2022 39.8
2021 [no data]
2020 [no data]
* Data aggregated from sources including COMPLETIONmonitor