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Coutts Finance Solicitor Panel: Recently Asked Questions
Are Coutts Finance Conveyancing panel solicitors under an obligation to disclose incentives?
Coutts Finance’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements
Can you recommend what we should do if we wish to challenge being removed from the
Coutts Finance solicitor panel?
If you are removed from the
Coutts Finance conveyancing panel and you are unaware of or disagree with the reasons for your removal you should: (a) Contact
Coutts Finance directly. (b) If there is an appeals process detailed on your letter you should follow the process.
In appealing a decision by Coutts Finance, it may be useful to provide the following information:
- Full account of your conveyancing history
- Your COMPLETIONmonitor reports, assuming you use the Lexsure software
- Your recent claims history
- Full details of all staff in your firm and their role.
- Note down if a solicitor has been admitted to the role on completion of the Qualified Lawyers Transfer Test.
- Provide copy practising certificates, the firm's current PII schedule and your accountant's certificate, confirming what % of the firm's gross fee income is generated from residential conveyancing transactions
It is encouraging that some solicitors have been able to regain membership to panels notwithstanding the policy by the respective lenders to refuse panel membership to firms with certain profiles or characteristics. Success is primarily due to the firms’ ability to persuade the lender to make an exception if there is sufficient evidence to reassure them that the firm is a ‘low risk’.
I recently attended a seminar arranged via my PI broker where it was mentioned that solicitors are being sued for non-compliance with CML PII obligations . I am on the
Coutts Finance conveyancing panel can you tell me how Part 2 changes took place by
Coutts Finance during 2013?
During 2013, 78 sections of the UK Finance Lenders’ Handbook P2 were changed by
Coutts Finance. Some changes are more important than others but as a firm on the
Coutts Finance 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.
Do publish figures exists revealing the
Coutts Finance conveyancing panel size as well as the number of conveyancing firms dismissed each quarter?
With lenders and conveyancers working so closely with one another it is surprising that there has not been greater demand for the introduction of a bit of transparency regarding not just the figures for the
Coutts Finance conveyancing panel but for all bank panels
Marsh’s PII renewal form asks if my practice had been removed off any bank panels in the last year.
I recently discovered that the firm is no longer on the
Coutts Finance conveyancing panel? Will that impact my PII premium?
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 Coutts Finance solicitor panel
membership. Please remember that it is always important that you
complete your insurance forms accurately.
My firm is listed on the
Coutts Finance
conveyancing panel and due to complete a purchase shortly. My file does not contain a Legal Charge for the client to sign.
Who do I contact at Coutts Finance to request substitute deeds?
You should contact Coutts Finance
to obtain standard documents. The CML Handbook incorporates an individual section for banks to cite who to contact to obtain standard documents.
Coutts Finance in their Part 2’s state:
Always remember to disclose the firm’s Coutts Finance conveyancing panel number.
Find a Lawyer on the Coutts Finance Conveyancing Panel
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Average number of days to register title including a charge in favour of Coutts Finance
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 Coutts Finance Firms
- Draft Report on Title precedent for Coutts Finance borrowers
- Draft Anti Money Laundering PolicyTemplate for Coutts Finance panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Coutts Finance lender panel
- Buy-to-Let help for Coutts Finance
- Consent-to-Let help for Coutts Finance
- Contractor Mortgages with Coutts Finance
