Coutts & Co Conveyancing Panel Information

Although not necessarily published, lenders have varying criteria . We do not hold specific requirements relating to the questions raised as part of the application to be on the Coutts & Co conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Full complaints history for each licensed conveyancer

Automated alerting to inform lenders when there is a fundamental change to the firm (e.g. new disciplinary action)

Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.

Full complaints history for each conveyancing solicitor

Whether any lender has ever made a claim against the firm’s PII cover

Whether the firm is able to operate in other jurisdictions

Number of lender conveyancing panels the firm is currently on

SRA or equivalent regulator registration number where applicable

Full disciplinary history for each licensed conveyancer

Firm name, address and contact details including all branches (including evidence of existence through risk-based physical visits and Google Streetview checks)

There are many reports available, five of which are as follows:

• Number of conveyancing cases by lender
• The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)
• Average mortgage advance
• Current and historic missed priority dates
• Evidence of undertaking logs

Most lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Coutts & Co as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Coutts & Co we suggest that you call Coutts & Co to check the position.

There are various requirements are to followed if you wish to comply with your lender client’s instructions as set out in the UK Finance Lenders’ Handbook. (a) You must take reasonable steps to verify that there are no discrepancies between the description of the property as valued and the title and other documents which a reasonably competent conveyancer should obtain, and, if there are, you must tell Coutts & Co immediately. Second, You should take reasonable steps to verify that the assumptions stated by the valuer about the title (for example, its tenure, easements, boundaries and restrictions on its use) in the valuation and as stated in Coutts & Co’s mortgage offer are correct. If they are not, please let Coutts & Co know as soon as possible as it will be necessary for Coutts & Co to check with the valuer whether the valuation needs to be revised. Coutts & Co conveyancing panel solicitors are not expected to assume the role of valuer. Coutts & Co are simply trying to ensure that the valuer has valued the property based on correct information. (c) Coutts & Co recommend that you should advise the borrower that there may be defects in the property which are not revealed by the inspection carried out by their valuer and there may be omissions or inaccuracies in the report which do not matter to them as a lender but which would matter to the borrower. Coutts & Co recommend that, if we send a copy of a valuation report that Coutts & Co have obtained, you should also advise the borrower that the borrower should not rely on the report in deciding whether to proceed with the purchase and that he obtains his own more detailed report on the condition and value of the property, based on a fuller inspection such as a homebuyers survey or structural survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Coutts & Co or the borrower. You still need to comply with the UK Finance Lenders’ Handbook Requirement relating to valuation reports even if you don't receive one directly. Failure to comply not only runs the risk of facing a claim by the lender but also being removed from the Coutts & Co conveyancing panel

In the circumstances please clarify on the form what steps you have taken to discover the reasons behind cancellation of your Coutts & Co panel membership. In particular please provide details if you have received communications from the lender. E.G. before revocation of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?

You would be advised to get in touch with Coutts & Co to obtain standard documents. The CML Handbook has an express section for banks to establish who to contact to obtain standard documents. Coutts & Co in their Part 2’s state: You will need to quote the firm’s Coutts & Co conveyancing panel reference.