Separate Representation – a potential mortgage stumbling block

Most major mortgage providers have a list of what they call ‘panel solicitors’.  To be put onto a panel, solicitors have to meet certain standards of service and have adequate knowledge of the policies and practices of the relevant builder/provider.  Wallace Quinn are panel solicitors for most of the major housebuilders and mortgage providers, meaning we can provide a full conveyancing service for our clients.

Appointing a Conveyancing Solicitor to act for you

If you are buying property in Scotland, you are free to appoint any conveyancing solicitor you wish to work on your behalf.  We’ve worked hard to understand the policies and practices of most of Scotland’s housebuilders, which is why they are happy to recommend us to people reserving plots.  This in turn means we’re able to offer a comprehensive, efficient and speedy service to our clients and results in lots of positive reviews and recommendations.

Appointing a Conveyancing Solicitor to act for the mortgage provider

If you’re using a mortgage to buy a property, there are at least two ‘parties’ involved in the transaction, both of whom require legal representation.  One party is the mortgage provider.  The other is, at the very least, you, but could also involve a partner, spouse, parent, shared equity provider, etc.

When you use Wallace Quinn to undertake the conveyancing, we’re likely to be on the panel for the mortgage provider.    However, if you were to appoint a conveyancing solicitor not on the panel for your mortgage provider, you might run into a complication where the mortgage company would insist on appointing one of their approved panel solicitors to represent their interests.  This is what is known as ‘separate representation’

What is Separate Representation?

Separate representation means there are two solicitors involved in the purchase process.  A solicitor acting for you and a solicitor acting for the mortgage provider.  This means the time to complete the transaction will be longer as the documents will have to move between both solicitors.

Two solicitors also mean two fees and you’ll probably have to pay those costs too.  Your mortgage provider would usually tell you what these additional costs are once you’ve told them you’ll require separate representation.

Avoiding the Complication

The simplest way to avoid the extra time and cost is to ensure that your solicitor is on the panel for your mortgage provider.  At Wallace Quinn, it is rare for us not to be on a panel and we are on all major mortgage provider panels.   If you’re looking to purchase property, contact us for a discussion how we can help.  If you’re looking for a quote for conveyancing services, you can generate one now using our online quote calculator.