Find a Law Firm
approved by Scottish Widows
Ready to buy a new home? Failing to check that a lawyer is on the Scottish Widows list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?
How does my firm apply to be on the Scottish Widows Bank plc Conveyancing Panel? How can my firm be reinstated onto the Scottish Widows Bank plc Conveyancing Panel?Find an Approved Solicitor on the Scottish Widows Bank plc Conveyancing Panel
Common questions asked concerning the Scottish Widows Solicitor Panel
Is the fact that my solicitor is not on the Scottish Widows Solicitor panel that there is a problem with the quality of the firm’s conveyancing?
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 Widows.
Our conveyancer has uncovered a legal deficiency with the lease for the property we are purchasing. The other side have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer has advised that as he is on the Scottish Widows conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is Scottish Widows?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Scottish Widows are the client. A precondition to being on the Scottish Widows approved panel is to comply with the CML Handbook requirements (last updated for this lender on Scottish Widows). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Scottish Widows can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Whilst your website is a good idea there are many lawyers listed near Hackney on the Scottish Widows conveyancing panel. Can you recommend a specific firm on the conveyancing panel for Scottish Widows ?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
My lawyers in Liverpool have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Scottish Widows. Is it case that being on the Scottish Widows conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Scottish Widows Conveyancing Panel Terms. It might be worth you contacting Scottish Widows directly.
Why might a lender such as Scottish Widows withdraw a mortgage offer?
Lenders such as Scottish Widows can withdraw their mortgage offer although this is unusual. If Scottish Widows withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are a number of examples:
- Where information comes to Scottish Widows ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- Scottish Widows may amend or withdraw an offer if the Scottish Widows conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- Many mortgage offers have an expiry date. Your lawyer should check this. Scottish Widows may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
- Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Scottish Widows conveyancing panel solicitors would be obliged to notify Scottish Widows of a change in the price of the property.
- If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
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 Scottish Widows on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Scottish Widows 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?
As long as the conveyancer is on the Scottish Widows panel she or he must comply with the CML Handbook requirements for Scottish Widows. Unless your lawyer obtains specific confirmation in writing that Scottish Widows 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 Widows to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
Intending to buy a flat with a mortgage with Scottish Widows. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Scottish Widows conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Scottish Widows conveyancing panel
Other Topics
Transfer of Equity for Scottish WidowsPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors