Bank of Scotland Conveyancing Panel Information

The Scottish Law Society has advised that solicitors should check their panel status with lenders before accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the Bank of Scotland conveyancing panel. The recommendation arises from the practice of a number of mortgage lenders who remove solicitors from their panels without prior notice as part of their panel management system, which can lead to some solicitors discovering this only once instructed. This is sensible advice as a client finding out midway through a transaction that their lawyer is not on the approved lender panel is very frustrating and can lead to complaints. Many online consumer forums contain posts where someone is complaining about finding that their lawyer is not on a lender conveyancing panel. Such forums include moneysavingexpert.com

The CML Part II requirements of Bank of Scotland are silent on this. Most lenders deal with the issue of file retention via their Terms of panel appointment 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 acceptance.

With mortgage companies and conveyancers working so closely with one another it is surprising that there has not been much call for the introduction of a bit of transparency regarding not just the figures for the Bank of Scotland conveyancing panel but for all mortgage panel listings

In this situation please clarify on the application 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 cessation of your panel membership did you receive any letters or calls from the lender putting you on notice?

You would be advised to communicate with Bank of Scotland to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an express inquiry for lenders to cite who to contact to obtain standard documents. Bank of Scotland in their Part 2’s state: Don’t forget to disclose the firm’s Bank of Scotland solicitors panel reference.