Q and A’s regarding the RBS - Direct Line Solicitor Panel from members of the public
My fiance and I are novices when it comes to buying a property. Within the last couple of days our solicitor has forwarded the sale agreement to sign with a detailed report with the expectation that exchange is imminent. RBS - Direct Line have this evening contacted us to inform me that there is now an issue as our solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit 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 Accreditation Scheme. Your property lawyers 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 lawyers to represent them. You don't have to instruct a firm on the RBS - Direct Line conveyancing panel and you may continue to use your own solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Expecting to complete my purchase next Tuesday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for RBS - Direct Line. What does the insurance need to cover?
All property lawyers 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 have a meeting at the offices of the RBS - Direct Line conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Leeds
so that I can attend their offices when needed.
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.
My aunt passed away last year and as sole heir and executor was left the property. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to RBS - Direct Line , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then RBS - Direct Line will insist on your using a conveyancer on the RBS - Direct Line conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS - Direct Line conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS - Direct Line mortgage is registered as a charge at the Land Registry.
I previously instructed online conveyancers located in Bristol who are on the RBS - Direct Line solicitor panel. They have just invoiced me a separate fee of £195 for dealing with the RBS - Direct Line mortgage. Is this an additional conveyancing fee specified by RBS - Direct Line?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by RBS - Direct Line but by your lawyers. Some firms on the RBS - Direct Line will charge an ‘acting for lender’ fee and others do not.
My wife and I have arranged a further advance on our mortgage from RBS - Direct Line as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the RBS - Direct Line conveyancing panel to deal with the paperwork?
RBS - Direct Line would not normally appoint firms on their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the RBS - Direct Line panel
It is not clear whether my mortgage offer requires a lease extension . I have telephoned RBS - Direct Line on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the RBS - Direct Line conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for RBS - Direct Line. Unless your lawyer obtains specific confirmation in writing that RBS - Direct Line 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 RBS - Direct Line to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.