Scottish Widows Conveyancing Panel Information

This not something that the CML would traditionally get involved with but they do organise a number of general legal related conferences which are attended by firms on the Scottish Widows conveyancing panel. Lexsure intend to run specific lender focused seminars in the coming months including a webinar on Scottish Widows’s Part 2 obligations. Practitioners on the Scottish Widows conveyancing panel will be invited. Information about the webinar will be communicated as part of the LENDERmonitor Alerts.

The Council of Mortgage Lenders, together with Scottish Widows and other stakeholders developed a standard set of instructions where a solicitor is representing a lender such as Scottish Widows alone in a residential conveyancing matter. These requirements are contained at Part III of the UK Finance Lenders’ Handbook and are to be followed in conjunction with Sections One and Two. The CML have published an example requirements letter to the borrower’s lawyer for use by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel conveyancer.

You might expect Scottish Widows via their Part Two requirements to address this but the Handbook is silent on time frames. You need to look at the Terms of Scottish Widows’s Conveyancing Panel Appointment that you previously signed. For many lender's these Terms contain a provision such as: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is important to keep Scottish Widows informed. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

During 2013, 74 sections of the UK Finance Lenders’ Handbook P2 were changed by Scottish Widows. Some changes are more important than others but as a firm on the Scottish Widows conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

In this situation please clarify on the application what action you have taken to find out the reasons behind cancellation of your Scottish Widows panel membership. 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 would be advised to get in touch with Scottish Widows to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an explicit inquiry for banks to reveal who to contact to obtain standard documents. Scottish Widows in their Part 2’s state: Don’t forget to disclose your Scottish Widows conveyancing panel number.