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approved by Scottish BS
Ready to buy a new home? Failing to check that a lawyer is on the Scottish BS list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Scottish Building Society Conveyancing Panel? How can my firm be reinstated onto the Scottish Building Society Conveyancing Panel?Find an Approved Solicitor on the Scottish Building Society Conveyancing Panel
FAQs for the Scottish Building Society Conveyancing Panel
Am I correct in assuming that the fact that my solicitor is not on the Scottish Building Society Conveyancing panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Scottish Building Society.
I am buying a new build flat and my lawyer is informing me that she is duty bound to reveal incentives from the builder as her practice is on the Scottish Building Society conveyancing panel. The Estate Agents are hassling me to sign contracts and my preference is not to delay matters. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Scottish Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Scottish Building Society). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Scottish Building Society conveyancing panel. My lawyer has said that they are on the Scottish Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Scottish Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Scottish Building Society solicitor panel.
We're in Wales, First time buyers purchasing with a mortgage (lender is Scottish Building Society , but our solicitor is on the Scottish Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Scottish Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Is it the case that all conveyancing solicitors on the Scottish Building Society conveyancing panel work on a no sale no fee basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
We have agreed a price on a apartment I spoke to a solicitor previously used by my brother and he advised instructing a law firm approved by Scottish Building Society. The estate agent recommended two local firms so I asked Scottish Building Society if the 2 suggested solicitors are approved, which they are not. Scottish Building Society suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Scottish Building Society 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Scottish Building Society to suggest a law firm in your location. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Scottish Building Society conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Scottish Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Scottish Building Society’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called into my local branch Scottish Building Society on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Scottish Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 requirements for Scottish Building Society. Unless your lawyer obtains specific confirmation in writing that Scottish Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Scottish Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.