FAQs : The RBS- First Active Conveyancing Panel
from members of the public
Am I correct in assuming that the fact that my conveyancer is not identified on the RBS- First Active Solicitor panel that there is a problem with the quality of her work?
That would more than likely be a wrong assumption to make. 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 top 3 reasons are as follows: (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 RBS- First Active.
My partner and I intend to remortgage our penthouse with RBS- First Active. We have a son 19 who lives with us. The solicitor on the RBS- First Active conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this document specific to the RBS- First Active conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your RBS- First Active conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to RBS- First Active .This is solely used to protect the RBS- First Active if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of RBS- First Active had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
How up to date is your database of lawyers on the RBS- First Active conveyancing panel? Do RBS- First Active send you an updated list?
The law firm practices themselves provide us confirmation that they are on the RBS- First Active conveyancing panel as opposed to being supplied with a list from RBS- First Active directly.
My conveyancers in Manchester have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with RBS- First Active. Is it case that being on the RBS- First Active conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements 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 RBS- First Active Conveyancing Panel Terms. It might be worth you contacting RBS- First Active directly.
Do the majority of lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the RBS- First Active conveyancing panel requirements are different to RBS- First Active’s conveyancing panel criteria.
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to move forward? I hope to get a mortgage with RBS- First Active. Is there anyway to cut out the solicitors to save us both money? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with RBS- First Active involved you will need to appoint a solicitor on the RBS- First Active conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to RBS- First Active. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the RBS- First Active conveyancing panel.
We were going to get a DIP from RBS- First Active this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the RBS- First Active recommend a solicitor on the RBS- First Active conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the RBS- First Active conveyancing panel. The solicitor represents both you and the RBS- First Active through the process.