RBS - Virgin One Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. It is a unique risk management tool.

This system facilitates the way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with notifications given on RBS - Virgin One’s changes. Even though using COMPLETIONmonitor is not a condition for being on the RBS - Virgin One panel, demonstrating you can stay up to date with RBS - Virgin One’s Handbook requirements is an excellent support to your application to their lender panel and, more importantly, safeguard your firm’s panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces compliance and CQS reports, and will improve your firm's efficiency. It is also user friendly, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by RBS - Virgin One

Banks and building societies often vary their requirements. The UK Finance Lenders’ Handbook requirements from RBS - Virgin One 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, RBS - Virgin One has made 242 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 11.3 days. In total, 55% of the sections of P2 of the UK Finance Lenders’ Handbook for RBS - Virgin One have been changed since 15/12/2008.

To find out more about lender panel compliance,

Book a Personalised Demo

RBS - Virgin One Conveyancing Panel : Questions and Answers from members of the public

Much to my surprise I have been told by my financial adviser that my lawyer is not on the RBS - Virgin One Conveyancing panel. How can I be certain that this is indeed the case?
The best course of action for you to take is to contact your lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for RBS - Virgin One.
My solicitor has discovered a difference between the information in RBS - Virgin One’s home valuation report and what is revealed within the legal papers for the property. My lawyer informs me that as he is on the RBS - Virgin One conveyancing panel he needs to check that the bank is happy with this discrepancy and is content go ahead. Is my solicitor’s approach legitimate?
A precondition to being on the RBS - Virgin One approved panel is to comply with the CML Handbook requirements (last updated for this lender on RBS - Virgin One) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. 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.
Is it necessary during the course of the conveyancing process to pop into the offices of the RBS - Virgin One conveyancing panel solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in London so that I can pop in to their offices if necessary.
Most conveyancing panel lawyers for RBS - Virgin One undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
We're in Birmingham, FTBs buying with a mortgage (lender is RBS - Virgin One , but our lawyer is on the RBS - Virgin One conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the RBS - Virgin 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
I am buying a property where the roof has a solar panel. RBS - Virgin One have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with RBS - Virgin One your lawyer must to check the RBS - Virgin One conveyancing instructions contained in the Part of CML Handbook for RBS - Virgin One . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to RBS - Virgin One where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
I have a mortgage with RBS - Virgin One. My uncle has just retired and wants to pay off the mortgage left on the property. After RBS - Virgin One is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the RBS - Virgin One conveyancing panel? I do not intend to live at the property once the RBS - Virgin One mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the RBS - Virgin One panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. As the property is your main residence you need not pay CGT but you should speak with your accountants in any event.
My ex -wife’s name is on the RBS - Virgin One mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the RBS - Virgin One mortgage in order to sell?
In terms of the RBS - Virgin One mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of RBS - Virgin One in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.