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Ready to buy a new home? Failing to check that a lawyer is on the RBS list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?How does my firm apply to be on the The Royal Bank of Scotland plc Conveyancing Panel? How can my firm be reinstated onto the The Royal Bank of Scotland plc Conveyancing Panel?
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Common questions asked concerning the Royal Bank of Scotland Conveyancing Panel
The lawyer my husband and I had intended to instruct on a remortgage said she will levy higher legal fees if my mortgage is with Royal Bank of Scotland because of their unusual legal requirements. Am I likely to be frustrated using Royal Bank of Scotland? Any comments will be appreciated
Royal Bank of Scotland conveyancing requirements for their panel are no better or no more complicated than most lenders. It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender. It is not clear if your lawyer is on the Royal Bank of Scotland conveyancing panel. If they are not, this does add further risk of delay as Royal Bank of Scotland will appoint their own solicitors to look after their interest.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Royal Bank of Scotland will not agree to this. Why was Royal Bank of Scotland even consulted?
Your lawyer being on the Royal Bank of Scotland conveyancing panel is duty bound to inform Royal Bank of Scotland of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Royal Bank of Scotland then they would have to discontinue acting for you and Royal Bank of Scotland.
Is it necessary during the course of the conveyancing process to pop into the offices of the Royal Bank of Scotland conveyancing panel solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in London so that I can pop in to their offices if required.
Whereas this was necessary 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in London .
Please explain the implications if my lawyer’s firm is expelled from the Royal Bank of Scotland Solicitor panel before completion?
First, this is a very rare occurrence. 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.
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to proceed? I hope to get a mortgage with Royal Bank of Scotland. Is it possible to avoid using solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Royal Bank of Scotland involved you will need to appoint a solicitor on the Royal Bank of Scotland conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Royal Bank of Scotland. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Royal Bank of Scotland conveyancing panel.
I was told two weeks ago that my mortgage has been agreed to by Royal Bank of Scotland. Is it usual for Royal Bank of Scotland to only issue the offer once my solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Royal Bank of Scotland to deal with your lawyers application to be on the Royal Bank of Scotland conveyancing panel. There's no guarantee that your solicitors will be accepted.
After shopping around on the internet I have found a solicitor having checked that they are on the Royal Bank of Scotland conveyancing panel. Does my lawyer arrange the survey of the property? Or I've read lots of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Royal Bank of Scotland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Royal Bank of Scotland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Royal Bank of Scotland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Royal Bank of Scotland you could contact your them to see if they have a list of approved surveyors.