Royal Bank of Scotland Conveyancing Panel Sample Enquires to our Call Center
from members of the public
I am in the process of selling my apartment and the EA has just telephoned to warn that the purchasers are switching law firm. I am told that this is due to the fact that Royal Bank of Scotland will only deal with solicitors on their approved list. Why would a big named mortgage company only engage with certain solicitors?
Mortgage companies have always had panels of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
My wife and I intend to remortgage our penthouse with Royal Bank of Scotland. We have a son 18 who lives with us. The solicitor on the Royal Bank of Scotland conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have a couple of questions (1) Is this form unique to the Royal Bank of Scotland conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Royal Bank of Scotland 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 Royal Bank of Scotland .This is solely used to protect the Royal Bank of Scotland 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 Royal Bank of Scotland 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 Royal Bank of Scotland conveyancing panel? Do Royal Bank of Scotland send you an updated list?
The firms themselves provide us confirmation that they are on the Royal Bank of Scotland conveyancing panel as opposed to being supplied with a list from Royal Bank of Scotland directly.
I am considering applying for a Royal Bank of Scotland mortgage for purchase of a new build (under development) with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Royal Bank of Scotland?
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 much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Can I be sure that the solicitor on the Royal Bank of Scotland panel is any good?
obtaining recommendations is a sensible starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor carrying out your transaction
On the whole I have been dissatisfied with the level or service received from my lawyer. Is there a Royal Bank of Scotland conveyancing panel complaints department or do I complain directly to the law firm?
There is little point in complaining directly to Royal Bank of Scotland. Every solicitor firm and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is properly dealt with by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
I am selling my flat. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Royal Bank of Scotland are being a right pain. The solicitor who is on the Royal Bank of Scotland conveyancing panel is recommending indemnity insurance as a solution 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.
