FAQs for the RBS - Direct Line Solicitor Panel from members of the public
My partner and I are FTBs. Within the 48 hours our property lawyer has forwarded the sale agreement to sign with a detailed report in anticipation of exchanging contracts shortly. RBS - Direct Line have this evening contacted us to advise us that there is now an issue as our conveyancer is not on their approved list of lawyers. What do we do from here?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitors should contact RBS - Direct Line and see if they can apply for membership of the RBS - Direct Line conveyancing panel, but if that is not viable RBS - Direct Line will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the RBS - Direct Line conveyancing panel as you are at liberty to use your preferred lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Expecting to complete my purchase next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for RBS - Direct Line. What risks do RBS - Direct Line expect the insurance to cover?
Any lawyer on the RBS - Direct Line conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in RBS - Direct Line’s Part 2 requirements of the CML Handbook (last updated on RBS - Direct Line). Being on the RBS - Direct Line conveyancing panel your lawyer is expect to follow these instructions.
Do I have to pop into the offices of the RBS - Direct Line conveyancing panel solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Liverpool
so that I can pop in to their offices if required.
Most conveyancing panel lawyers for RBS - Direct Line undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
I am buying a semi-detached house and getting a mortgage with RBS - Direct Line. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the RBS - Direct Line conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the RBS - Direct Line conveyancing panel in your location.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the RBS - Direct Line conveyancing panel?
A selection of lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
Do conveyancing lawyers on the RBS - Direct Line conveyancing panel work on a no move no charge basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
Are all solicitors on the RBS - Direct Line conveyancing panel regulated by the SRA?
As a firm of solicitors, in order to be on the RBS - Direct Line conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).