Q and A’s regarding the RBS - Virgin One Solicitor Panel from members of the public
My Conveyancer is not on the RBS - Virgin One Conveyancing Panel. Is it possible for me to continue with my family solicitor even though they are excluded from the RBS - Virgin One list of approved lawyers?
You will need to have a conveyancer complete the legal work required when you take out a RBS - Virgin One mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the RBS - Virgin One conveyancing panel additional costs will be incurred as separate legal representation will be required by RBS - Virgin One. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
My conveyancer has spotted a discrepancy when comparing the information in RBS - Virgin One’s home valuation survey and what is revealed within the title deeds. My lawyer says that as he is on the RBS - Virgin One conveyancing panel he needs to check that the lender is with this discrepancy and is still content to lend. Is my conveyancer’s stance correct?
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.
How up to date is your database of lawyers on the RBS - Virgin One conveyancing panel? Do RBS - Virgin One send you an updated list?
The law firm practices themselves provide us confirmation that they are on the RBS - Virgin One conveyancing panel as opposed to being supplied with a list from RBS - Virgin One directly.
We're in Wales, First timers purchasing 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 was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to move forward? I plan to obtain a mortgage with RBS - Virgin One. Is it possible to avoid using solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with RBS - Virgin One involved you will need to appoint a solicitor on the RBS - Virgin One conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to RBS - Virgin One. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the RBS - Virgin One conveyancing panel.
I have a mortgage with RBS - Virgin One. My father retired last week and wants to pay off my mortgage. After RBS - Virgin One is paid, I want to transfer the property to my mother's name; How long does the process 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. There's no capital gains tax for you as it is
your main residence.
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.
