Royal Bank of Scotland -Natwest One Conveyancing Panel : Questions and Answers from members of the public
My husband and I are purchasing a 3 bedroom flat in London with a mortgage from Royal Bank of Scotland -Natwest One. We like our solicitor but Royal Bank of Scotland -Natwest One says she’s not on their "panel". It seems we have little choice but to instruct one of the Royal Bank of Scotland -Natwest One panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Royal Bank of Scotland -Natwest One use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Royal Bank of Scotland -Natwest One conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Royal Bank of Scotland -Natwest One
Our conveyancer has discovered a legal deficiency with the lease for the flat we are buying. The other side have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer says that as he is on the Royal Bank of Scotland -Natwest One conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is Royal Bank of Scotland -Natwest One?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Royal Bank of Scotland -Natwest One are the client. A precondition to being on the Royal Bank of Scotland -Natwest One approved panel is to comply with the CML Handbook requirements (last updated for this lender on Royal Bank of Scotland -Natwest One). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Royal Bank of Scotland -Natwest One 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.
I need to find a Royal Bank of Scotland -Natwest One panel solicitor in Inverness. Can you assist?
It is not clear why you need a Royal Bank of Scotland -Natwest One panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Royal Bank of Scotland -Natwest One to find out which solicitors in Royal Bank of Scotland -Natwest One are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
We're in Wales, FTBs purchasing with a mortgage (lender is Royal Bank of Scotland -Natwest One , but our lawyer is on the Royal Bank of Scotland -Natwest One conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Royal Bank of Scotland -Natwest One conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
When it comes to lenders such as Royal Bank of Scotland -Natwest One do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Do most banks 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 Royal Bank of Scotland -Natwest One conveyancing panel requirements are different to Royal Bank of Scotland -Natwest One’s conveyancing panel criteria.
I have paid off my mortgage with Royal Bank of Scotland -Natwest One. I assume I don't need a solicitor on the Royal Bank of Scotland -Natwest One panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Royal Bank of Scotland -Natwest One mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Royal Bank of Scotland -Natwest One mortgage from the register. Royal Bank of Scotland -Natwest One,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Royal Bank of Scotland -Natwest One has sent the Land Registry the discharge electronically, and
the Royal Bank of Scotland -Natwest One has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Royal Bank of Scotland -Natwest One mortgage has been paid off.
