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approved by RBS (One Account)
Ready to buy a new home? Failing to check that a lawyer is on the RBS (One Account) list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the The Royal Bank of Scotland plc One Account Conveyancing Panel? How can my firm be reinstated onto the The Royal Bank of Scotland plc One Account Conveyancing Panel?Find an Approved Solicitor on the The Royal Bank of Scotland plc One Account Conveyancing Panel
FAQs for the RBS (One Account) Solicitor Panel
I appointed a firm of solicitors to carry out on my purchase 4 weeks ago having applied for a mortgage with RBS (One Account). The law firm assured me that they are on RBS (One Account) conveyancing panel and gave me their panel number. RBS (One Account) then ,via my broker advised that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm listed on the conveyancing panel for RBS (One Account)?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the RBS (One Account) conveyancing panel You may wish to enlist the help of your broker to check with the RBS (One Account) as to how long they think it will take to get the firm to get back on the panel.
Can you clarify something for me?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from RBS (One Account) was dated random date and we have agreed a date for me to move into the property on 6. My solicitor has advised that as she is on the RBS (One Account) conveyancing panel she needs to redo the searches as they are no longer acceptable to the lender.
A precondition to being on the RBS (One Account) approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on RBS (One Account))which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to RBS (One Account).
I note that you have a search directory listing solicitors on the RBS (One Account) conveyancing panel. Do firms pay you a referral fee if I appoint them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the RBS (One Account) conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the RBS (One Account) Conveyancing panel in advance of the moving date as agreed at exchange of contracts?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
is it true that all solicitor practices on the RBS (One Account) conveyancing panel overseen by the SRA?
As solicitors, in order to be on the RBS (One Account) conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
RBS (One Account) have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up RBS (One Account) or your broker and complete any relevant paperwork. RBS (One Account) will tell you what documents they want. RBS (One Account) will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. RBS (One Account) will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
Sometime soon me and my wife are remortgaging a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon are preferred to beretained. My brother-in-lawadvised that we enquire that the conveyancing practitioner in Hendon is on the RBS (One Account) solicitors panel. Is this really necessary?
Far from all Hendon conveyancing solicitors are on the RBS (One Account) conveyancing panel. Click here to find a Hendon conveyancing solicitor on the on the RBS (One Account) list of approved conveyancing firms.
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Transfer of Equity for RBS (One Account)Please note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors