Coutts & Co Conveyancing Panel Information

Coutts & Co make no specific obligation to carry out any of the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must ensure that any other searches which may be appropriate to the particular property, taking into account its locality and other features are carried out’.

Remember that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Coutts & Co are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the client.

Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Is this covered within your Terms of Engagement or Report on Title?

One search supplier lists over 72 property searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location call your search provider or call one of the leading search companies such as STL.

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):

Number of lender conveyancing panels the firm is currently on

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

Full complaints history for each conveyancing solicitor

Full complaints 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)

Full disciplinary history for each licensed conveyancer

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.

SRA or equivalent regulator registration number where applicable

Whether the firm is able to operate in other jurisdictions

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

One might ordinarily expect Coutts & Co via their Part Two obligations to address this but the Handbook is silent on time frames. Do look at the Terms of Coutts & Co’s Conveyancing Panel Appointment that you previously signed. For a number of banks 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 imperative to keep Coutts & Co updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

In this situation please clarify on the form what steps you have taken to find out the reasons behind cancellation of your Coutts & Co panel status. 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 putting you on notice?

You need to get in touch with Coutts & Co to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an express section for lenders to enumerate who to contact to obtain standard documents. Coutts & Co in their Part 2’s state: It helps to disclose your Coutts & Co solicitors panel reference.