Bank of Scotland Private Conveyancing Panel Information

Each lender has different criteria. We do not hold specific requirements relating to the questions raised as part of the application to be on the Bank of Scotland Private conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Charge registration history

Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers

conveyancer client account(s) details

Number of lender conveyancing panels the firm is currently on

SRA or equivalent regulator registration number where applicable

List of fee-earners who are foreign qualified

Structure of firm and, where applicable, its group

PII Cover details, including, if relevant, whether the firm is or has been in the assigned risks pool and structure of cover – basic

List of all those who can sign off the Certificate Of Title

Whether the firm has ever applied for accreditation and the outcome of the application

We can't comment specifically on Bank of Scotland Private. Many major lenders are now introducing ‘file auditing’ as standard practice in relation to completed matters. This raises questions of confidentiality in relation to the buyer client and the purpose to which the results of such audits will be put. The starting point is to remember that the file does not belong to your firm, it belongs to the ‘client’. But, of course, we will normally have two clients – the buyer and the lender - and you will owe a duty of confidentiality to each. So basically, you have to separate the file and just send the lender the parts solely relating to themselves. But, of course, as this will basically be correspondence with the lender, mortgage instructions etc.

Check with your COLP but a firm should not send the complete conveyancing file without the buyer client’s express consent – and if he is in arrears with the lender he is hardly likely to agree. However, if the lender can establish a prima facie case of fraud, then you may be under an obligation to disclose the whole file.

The emerging convention is that lenders are including an authority to disclose in loan application forms to counter this problem. Mortgage Express v Sawali, [2010] EWHC 3054 (Ch) indicates that such provisions are valid. Please click here for more information about that case.

You need to be careful here as what you are proposing may not be acceptable to the mortgage company. It is possible that you (as a non-panel firm) or the mortgage applicant are not at liberty instruct a panel firm of your choice. Many lenders make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender will appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer. You also need to make the costs implications and potential for delay very clear to your client.

Bank of Scotland Private approved panel lawyers have to comply with the Part II instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if Bank of Scotland Private require, the deed of covenant on their behalf. You will need to check Bank of Scotland Private CML Part 2 conditions to see if Bank of Scotland Private have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the Bank of Scotland Private conveyancing panel

It would be advisable to provide details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not negatively affect your firm’s application but gives the Law Society viability as to what has gone on.

You would be advised to communicate with Bank of Scotland Private to obtain standard documents. The The Council of Mortgage Lenders Handbook includes a specific question for banks to reveal who to contact to obtain standard documents. Bank of Scotland Private in their Part 2’s state: Always remember to disclose the firm’s Bank of Scotland Private conveyancing panel number.