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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
Examples of recent questions relating to the RBS (One Account) Solicitor Panel
My fiance and I are purchasing a 1 bedroom flat in London with a mortgage from RBS (One Account). We have a solicitor but RBS (One Account) says he's not on their "panel". We have to appoint one of the RBS (One Account) panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that RBS (One Account) use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the RBS (One Account) conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for RBS (One Account)
I am purchasing a newly constructed apartment and my solicitor is informing me that she is duty bound to disclose incentives from the seller as her firm is on the RBS (One Account) conveyancing panel. I am nearing the developer’s deadline to exchange and I dont want to prolong matters. Can I insist on an exchange regardless of what my lawyer says about being on the RBS (One Account) panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the RBS (One Account) approved panel is to comply with the CML Handbook requirements (last updated for this lender on RBS (One Account)). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I need to find a RBS (One Account) panel solicitor in Inverness. Could you help me?
It is not clear why you need a RBS (One Account) panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to RBS (One Account) to find out which solicitors in RBS (One Account) are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
What happens if my solicitor is suspended from the RBS (One Account) Solicitor panel before 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 the case that all solicitor practices on the RBS (One Account) conveyancing panel regulated by the SRA?
As a firm of 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).
I recently had an offer accepted on an apartment. My mortgage broker recommended their conveyancers I paid an upfront payment of 200. Soon after the conveyancers contacted me to say that they were not on the RBS (One Account) 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 (One Account) 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.
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.
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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