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Ready to buy a new home? Failing to check that a lawyer is on the RBS- 1st Active 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 First Active Conveyancing Panel? How can my firm be reinstated onto the The Royal Bank of Scotland plc First Active Conveyancing Panel?Find an Approved Solicitor on the The Royal Bank of Scotland plc First Active Conveyancing Panel
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I am selling my apartment and the EA has just called to warn that the buyers are switching solicitor. The excuse is that RBS- First Active will only engage with solicitors on their conveyancing panel. Why would a big named mortgage company only deal with specific law firms?
Banks have always had panels of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders blame a rise in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
Can you clarify something for me?. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from RBS- First Active was dated random date and we have agreed a date for me to move into the property on 6 months + 3. My solicitor says that as she is on the RBS- First Active conveyancing panel she needs to reorder the searches as they are now out of date.
One of the many conditions to being on the RBS- First Active approved panel is to comply with the CML Handbook requirements (last updated for this lender on RBS- First Active)which states that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to RBS- First Active.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the RBS- First Active conveyancing panel. My lawyer has said that they are on the RBS- First Active approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the RBS- First Active conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the RBS- First Active solicitor panel.
My house is up for sale and I have a buyer. Does my solicitor have to be on the RBS- First Active conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the RBS- First Active conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
We expect to receive a DIP from RBS- First Active this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the RBS- First Active recommend a solicitor on the RBS- First Active conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the RBS- First Active conveyancing panel. The solicitor represents both you and the RBS- First Active through the process.
My husband and I are in the throws of viewing apartments and now considering a potential offer. Should I already have a conveyancer appointed at this stage? I will be getting a home loan with RBS- First Active
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer 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 RBS- First Active , ask your prospective lawyers check they are on the RBS- First Active conveyancing panel otherwise they can't do the mortgage legal work.
I recently had an offer accepted on a house. My mortgage broker recommended their conveyancers I paid an upfront payment of 225. Soon after the conveyancers contacted me to say that they were not on the RBS- First Active conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS- First Active panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
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