Find an Approved Solicitor on the The Royal Bank of Scotland plc First Active
FAQs : The RBS- First Active Solicitor Panel
My partner and I are novices when it comes to buying a property. Within the last couple of days our conveyancer has forwarded the sale agreement to sign with a detailed report with a view to exchanging next week. RBS- First Active have this evening contacted us to inform me that they have now hit a problem as our conveyancer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit 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 Accreditation Scheme.
Your property lawyers should contact RBS- First Active and see if they can apply for membership of the RBS- First Active conveyancing panel, but if that is not viable RBS- First Active will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the RBS- First Active 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 are adding another lawyer into the mix.
Our lawyer has identified a problem with the lease for the apartment we are purchasing. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer says that as he is on the RBS- First Active conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is RBS- First Active?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and RBS- First Active are the client. A precondition 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). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that RBS- First Active can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Do lenders provide you with an approved list of solicitors? How do you know who is on the RBS- First Active conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the RBS- First Active conveyancing panel as opposed to being supplied with a list from RBS- First Active directly.
My lawyers in Leeds have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with RBS- First Active. Is it case that being on the RBS- First Active conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the RBS- First Active Conveyancing Panel Terms. It might be worth you contacting RBS- First Active directly.
My fiance 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
You should start obtaining conveyancing quotes from solicitors ASAP. 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 financial adviser suggested a solicitor 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.
Intending to buy a house with a mortgage with RBS- First Active. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS- First Active conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the RBS- First Active conveyancing panel