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Scottish Widows Conveyancing Panel: Recently Asked Questions
Scottish Widows wants me to represent them alone on a residential conveyancing transaction , using the CML Lender’s Handbook. The borrower has his own solicitor (not on the
Scottish Widows conveyancing panel) How does this operate and are there different instructions from Scottish Widows in this case?
The CML, together with
Scottish Widows and other lenders created a standard set of requirements where a conveyancer is acting for a lender such as Scottish Widows alone in a residential conveyancing transaction.
These legal instructions are contained at Part III of the UK Finance Lenders’ Handbook and are to be read in conjunction with Part I and II.
The CML have published an example requirements letter to the borrower’s conveyancing solicitor for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel lawyer.
Does the fact that my firm receives LENDERmonitor Alerts assist in my application to join the Scottish Widows solicitor panel?
The requirements to join the Scottish Widows conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
Given my firm’s membership on the Scottish Widows conveyancing panel how long am I expected to retain the complete conveyancing file?
The CML Part II requirements of
Scottish Widows 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 at least of 6 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 Scottish Widows’s interest. To be
absolutely sure of Scottish Widows requirements in this regard
please check the Terms and Conditions of Scottish Widows’s
conveyancing panel acceptance.
In my capacity as COLP for my firm what do I need to consider in terms of disclosures to the SRA if my firm is suspended off the
Scottish Widows conveyancing panel?
What you should do largely depends on the reason that your firm has been removed off the Scottish Widows
conveyancing panel. The top 3 reasons are as
follows:
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction.
Are figures published regarding the
Scottish Widows conveyancing panel size and the number of conveyancing firms dismissed each year?
With mortgage companies and solicitors working so closely together 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
Scottish Widows conveyancing panel but for all bank panels
We had our Scottish Widows panel membership revoked but we have not yet been given a reason as to why.
I am completing a CQS application questionnaire what details should I disclose?
In the circumstances please clarify on the application what action you have taken to find out the reasons behind cancellation of your
Scottish Widows 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 advising you as to their reasons?
I am on the
Scottish Widows
conveyancing panel and due to complete a remortgage within the next week. My file does not contain a Legal Charge for the client to sign.
Who do I contact at Scottish Widows to obtain duplicate documents?
You should get in touch with Scottish Widows
to obtain standard documents. The The Council of Mortgage Lenders Handbook includes a specific question for lenders to cite who to contact to obtain standard documents.
Scottish Widows in their Part 2’s state:
Please remember to quote the firm’s Scottish Widows solicitors panel reference.
Find a Lawyer on the Scottish Widows Conveyancing Panel
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Average number of days to register title including a charge in favour of Scottish Widows
This information relates to purchase only and not remortgages.
Year | Days* |
---|---|
2025 | [no data] |
2024 | [no data] |
2023 | [no data] |
2022 | [no data] |
2021 | [no data] |
2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Scottish Widows Firms
- Draft Report on Title precedent for Scottish Widows borrowers
- Draft Anti Money Laundering PolicyTemplate for Scottish Widows panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Scottish Widows lender panel
- Buy-to-Let help for Scottish Widows
- Consent-to-Let help for Scottish Widows
- Contractor Mortgages with Scottish Widows