Scottish Building Society Conveyancing Panel Information

The Council of Mortgage Lenders do not hold duplicates of P2 conditions pre-December 2010. We would recommend you contact Scottish Building Society directly.

There are many reports available, five of which are as follows:

• Current and historic missed priority dates
• Average time frame to send deeds to the lender (calculated from completion date or title registration)
• Disclosure/Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data
• Evidence of undertaking logs
• The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)

When a solicitor is acting for both Scottish Building Society 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 Scottish Building Society and it may well be prudent you to cease to act for the purchaser as well. You can not tell the Scottish Building Society 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 Scottish Building Society conveyancing panel status.

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 Scottish Building Society conveyancing panel to see if you are entitled to a reason.

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 Scottish Building Society solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You should contact Scottish Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an express inquiry for lenders to cite who to contact to obtain standard documents. Scottish Building Society in their Part 2’s state: It is likely that you will need to disclose the firm’s Scottish Building Society solicitors panel number.