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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.
Find an Approved Solicitor on the The Royal Bank of Scotland plc One Account Conveyancing Panel
Frequently asked questions relating to the RBS (One Account) Solicitor Panel
What is the rationale as to why all solicitors are not on the RBS (One Account) Conveyancing panel?
Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
My son-in-law is purchasing a newly built flat with a mortgage from RBS (One Account). His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the RBS (One Account) conveyancing panel as a standard part of the process, and to the valuer when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the RBS (One Account) conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I note that you have a post code search directory listing law firms on the RBS (One Account) conveyancing panel. Do firms pay you a referral fee if I retain them for my conveyancing?
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.
My aunt passed away six months ago and as sole heir and executor was left the property. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to RBS (One Account) , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then RBS (One Account) will insist on your using a conveyancer on the RBS (One Account) conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS (One Account) conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS (One Account) mortgage is registered as a charge at the Land Registry.
Can I be sure that the solicitor on the RBS (One Account) panel is any good?
seeking recommendations is a sensible starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer handling your transaction
My ex -wife’s name is on the RBS (One Account) mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the RBS (One Account) mortgage in order to sell?
As regards the RBS (One Account) mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of RBS (One Account) in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
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.