Royal Bank of Scotland Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and professional indemnity insures. COMPLETIONmonitor is a unique risk mitigation tool.

This system optimises the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with notifications given on Royal Bank of Scotland’s changes. Notwithstanding that utilising this technology is not a prerequisite for Royal Bank of Scotland , demonstrating you can remain up to date with Royal Bank of Scotland’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, protect your firm’s panel standing.

COMPLETIONmonitor generates real-time alerts, automatically produces SRA and CQS reports, and will increase your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, leads to reduced PII premiums.

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Mortgage companies frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from Royal Bank of Scotland are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes

Since 2008, Royal Bank of Scotland has made 555 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 4.9 days. In total, 66% of the sections of P2 of the UK Finance Lenders’ Handbook for Royal Bank of Scotland have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
1.11a 15/11/2018 CML
16.3.2 15/11/2018 CML
16.5.3a 15/11/2018 CML
17.1.1 15/11/2018 CML
14.2.2 28/03/2018 CML
14.1.5 21/03/2018 CML
16.4.1 28/12/2017 CML
5.19.1 19/07/2016 CML
5.5.3c 19/07/2016 CML
16.3.7a 31/05/2016 CML

Last update 12/11/2018

FAQs for the Royal Bank of Scotland Solicitor Panel from members of the public

My husband and I are first time buyers. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Royal Bank of Scotland have this afternoon contacted us to inform me that there is now an issue as our conveyancer is not on their conveyancing panel. 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 solicitors 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 solicitors to act. 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.

I am buying a new build apartment and my lawyer is informing me that she has to disclose incentives from the seller as her practice is on the Royal Bank of Scotland conveyancing panel. The Estate Agents are hassling me to exchange and my preference is not to prolong matters. Can I insist on an exchange regardless of what my lawyer says about being on the Royal Bank of Scotland panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition 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). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Is it necessary during the course of the conveyancing process to attend the offices of the Royal Bank of Scotland conveyancing panel solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Newcastle so that I can attend their offices when needed.
Whereas this was necessary twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Newcastle .
I am selling my house. Does my solicitor have to be on the Royal Bank of Scotland conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Royal Bank of Scotland conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Is it the case that all conveyancing solicitors on the Royal Bank of Scotland conveyancing panel work on a no move no charge basis?
In the main there are 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
We were going to get a DIP from Royal Bank of Scotland 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 Royal Bank of Scotland recommend a solicitor on the Royal Bank of Scotland conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Royal Bank of Scotland conveyancing panel. The solicitor represents both you and the Royal Bank of Scotland through the process.
My brother and I are remortgaging a flat in Hendon. Conveyancing solicitors in Hendon need to beretained. My friendadvised that we make sure that the property lawyer in Hendon is on the Royal Bank of Scotland approved list of lawyers. Aren't all lawyers on the Royal Bank of Scotland panel?
A limited percentage of Hendon conveyancing practices are on the Royal Bank of Scotland conveyancing panel. Click here to find a Hendon conveyancing lawyer on the on the Royal Bank of Scotland approved list of lawyers.