RBS - Virgin One Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers. It is a unique risk mitigation tool.

This software facilitates the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with alerts on RBS - Virgin One’s changes. Notwithstanding that utilising this technology is not a prerequisite for RBS - Virgin One , demonstrating you can remain up to date with RBS - Virgin One’s Handbook requirements is an excellent support to your panel application and, just as importantly, protect your panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces compliance and CQS reports, and will increase your firm's efficiency. It is also user friendly, cost-effective and, for many firms, leads to a PII saving.

Find a Law Firm approved by RBS - Virgin One

Lenders frequently change 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, frequently:

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,

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

Am I correct in assuming that the fact that my conveyancer is not isted on the RBS - Virgin One Solicitor panel that there is a problem with the quality of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for RBS - Virgin One.
Our nephew is purchasing a newly built flat with a home loan from RBS - Virgin One. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the RBS - Virgin One conveyancing panel as a standard part of the process, and to the surveyor when asked.

The Developer will be required to start the process by downloading the form and completing it.

The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the RBS - Virgin One conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

I see that you have a post code search directory listing solicitors on the RBS - Virgin One conveyancing panel. Do firms pay you a commission if I appoint them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the RBS - Virgin One conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My aunt passed away last year and as sole heir and executor was left the house. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to RBS - Virgin One , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then RBS - Virgin One will insist on your using a conveyancer on the RBS - Virgin One conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS - Virgin One conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS - Virgin One mortgage is registered as a charge at the Land Registry.
Are all Conveyancing Quality Solicitors on the RBS - Virgin One conveyancing panel?
It is true that some banks and building societies now use CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender RBS - Virgin One be concerned
As your lender is 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. Requirements for Scotland are due in the near future.
I can not work out if my mortgage offer requires a lease extension . I have telephoned RBS - Virgin One on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the RBS - Virgin One conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 requirements for RBS - Virgin One. Unless your lawyer obtains specific confirmation in writing that RBS - Virgin One will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask RBS - Virgin One to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.