Royal Bank of Scotland Solicitor Panel Recently Asked Questions from members of the public
My fiance and I are first time buyers. Within the 48 hours our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Royal Bank of Scotland have this morning contacted us to advise us that there is now an issue as our conveyancer is not on their approved list of lawyers. Please explain?
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 property lawyers should contact Royal Bank of Scotland and see if they can apply for membership of the Royal Bank of Scotland conveyancing panel, but if that is not viable Royal Bank of Scotland will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the Royal Bank of Scotland 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.
Please assist. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Royal Bank of Scotland was date stamped random date and we have agreed a date for me to move into the property on Tues etc. My solicitor informs me that as she is on the Royal Bank of Scotland conveyancing panel she needs to redo the searches as they are no longer valid.
One of the many conditions to being on the Royal Bank of Scotland approved panel is to comply with the CML Handbook requirements (last updated for this lender on Royal Bank of Scotland)which states that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Royal Bank of Scotland.
I am purchasing a flat and require a conveyancing solicitor in Liverpool who is on the Royal Bank of Scotland conveyancing. Can you recommend a local conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Royal Bank of Scotland . We don’t recommend any particular firm.
I am in the process of remortgaging my house does my lawyer need to be on the Royal Bank of Scotland Solicitor panel?
There is nothing to stop you using your solicitor but Royal Bank of Scotland will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Royal Bank of Scotland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Royal Bank of Scotland you will need to appoint a solicitor on the Royal Bank of Scotland conveyancing panel.
I am selling my apartment. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Royal Bank of Scotland are being pedantic. The solicitor who is on the Royal Bank of Scotland conveyancing panel is saying indemnity insurance will be fine but Royal Bank of Scotland are requiring a building regulation certificate. Why do Royal Bank of Scotland have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Royal Bank of Scotland have referred the matter to their valuer. The reason why Royal Bank of Scotland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
Planning on purchasing a house with a mortgage with Royal Bank of Scotland. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Royal Bank of Scotland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Royal Bank of Scotland conveyancing panel