FAQs : The RBS - Virgin One Solicitor Panel
from members of the public
I am getting a mortgage offer from RBS - Virgin One. my intention is to retain the legal services of a Licensed Conveyancer. Does the RBS - Virgin One Solicitor panel include Licensed Conveyancers
RBS - Virgin One’s conveyancing panel is, like many other lenders associated to the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
can you help? My conveyancer is informing me me that he has to order a Local Authority search as the firm are on the RBS - Virgin One approved lawyer panel. Do I not have a choice here?
You have limited options available to you. Given that you are taking out a loan with RBS - Virgin One your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of RBS - Virgin One’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated RBS - Virgin One. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I am planning to acquire a flat and require a conveyancing solicitor in Liverpool who is on the RBS - Virgin One conveyancing. Could you point me in the right direction as regards a solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for RBS - Virgin One . We don’t recommend any particular firm.
The lawyers that I appointed last week on my house acquisition in Hendon has without warning shut down. I chose them because I needed a lawyer on the RBS - Virgin One conveyancing panel and my previous lawyer was not. I gave my credit card details for them to take £175 for searches. What do I do now?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the RBS - Virgin One conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist
Can you point me to a directory of RBS - Virgin One panel solicitors on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
We have a mortgage agreed in principle with RBS - Virgin One. Solicitors have been instructed? How long does it take for RBS - Virgin One to send the offer to our conveyancer
Some lenders take longer than others. Have RBS - Virgin One completed the valuation? Have you advised RBS - Virgin One as your lawyers details and checked that your lawyer is on the RBS - Virgin One conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
My offer on house has been accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with RBS - Virgin One?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the RBS - Virgin One conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with RBS - Virgin One and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.