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approved by RBS- 1st Active
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.
Find an Approved Solicitor on the The Royal Bank of Scotland plc First Active Conveyancing Panel
RBS- First Active Conveyancing Panel : Questions and Answers
For what reasons would a law firm be removed from the RBS- First Active solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of solicitor practices had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by RBS- First Active
Can you help?. 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 date stamped random date and we have agreed a date for me to move into the property on Tues etc. My solicitor informs me that as she is on the RBS- First Active conveyancing panel she needs to redo the searches as they are no longer valid.
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 specifies 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.
Whilst your website is a good idea there are many lawyers listed near Middlesbrough on the RBS- First Active conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for RBS- First Active ?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
The firm that just started acting on my house acquisition in London has without warning closed. They were on acting for me because I had to have a lawyer on the RBS- First Active conveyancing panel and my preferred lawyer was not. I gave my credit card details for them to take £175 for searches. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the RBS- First Active conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the RBS- First Active conveyancing panel requirements are different to RBS- First Active’s conveyancing panel requirements.
I currently have a mortgage with with RBS- First Active. Conveyancing was finalised 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform RBS- First Active?
Your original mortgage agreement with RBS- First Active will provide that you need their approval before renting your property as this is likely to be a breach of RBS- First Active’s mortgage conditions. It may be that RBS- First Active will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact RBS- First Active directly. You need not do this via a RBS- First Active conveyancing panel solicitor.
I am due to exchange contracts on my apartment. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, RBS- First Active are being difficult. The solicitor who is on the RBS- First Active conveyancing panel is saying indemnity insurance will be fine but RBS- First Active are requiring a building regulation certificate. Why do RBS- First Active have a conveyancing panel of they don’t accept advice from them?
It is probably the case that RBS- First Active have referred the matter to their valuer. The reason why RBS- First Active may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.