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Examples of recent questions relating to the Royal Bank of Scotland Conveyancing Panel
My wife and I are first time buyers. Within the last couple of days our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Royal Bank of Scotland have this evening contacted us to inform me that there is now an issue as our lawyer is not on their conveyancing panel. Please explain?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitors should contact Royal Bank of Scotland and see if they can apply for membership of the Royal Bank of Scotland conveyancing panel, but if that is not viable Royal Bank of Scotland will instruct their own solicitors to act. You don't have to instruct a firm on the Royal Bank of Scotland conveyancing panel as you are at liberty to use your preferred lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
We are approaching an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Royal Bank of Scotland. I am advised that, being on the Royal Bank of Scotland conveyancing panel and acting on their behalf he must inform Royal Bank of Scotland if the balance of the mortgage advance is coming from anyone other than me. I disclosed to the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Royal Bank of Scotland to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Royal Bank of Scotland if you agree, failing which, your lawyer must cease to continue acting.
I am searching for competitive conveyancing fees. Can I be confident that all the law firms that are listed on your website are on the Royal Bank of Scotland conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have advised us that they are on the Royal Bank of Scotland panel and agreed to advise us to take down their listing in the event of removal off of the Royal Bank of Scotland panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Royal Bank of Scotland conveyancing panel is incorrect.
I was expecting to complete on my flat yesterday. My lawyer’s firm is on the Royal Bank of Scotland solicitors panel but has moved offices in the past couple of months and had not advised Royal Bank of Scotland of their new address. Royal Bank of Scotland is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Royal Bank of Scotland branch or your mortgage broker to see if they can help.
Are all Conveyancing Quality Solicitors on the Royal Bank of Scotland conveyancing panel?
Some major banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. 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 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 Royal Bank of Scotland. 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 Royal Bank of Scotland involved you will need to appoint a solicitor on the Royal Bank of Scotland 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 Royal Bank of Scotland. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Royal Bank of Scotland conveyancing panel.
My fiance and I are at the point of looking at houses and am about to put in an offer. Is it premature to have a solicitor in place? I I am planning to take a home loan with Royal Bank of Scotland
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Royal Bank of Scotland , ask your prospective lawyers check they are on the Royal Bank of Scotland conveyancing panel otherwise they can't do the mortgage legal work.
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