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approved by RBS
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.
Find an Approved Solicitor on the The Royal Bank of Scotland plc Conveyancing Panel
FAQs for the Royal Bank of Scotland Conveyancing Panel
I am getting a mortgage with Royal Bank of Scotland. my intention is to enlist the help of a Licensed Conveyancer. Does the Royal Bank of Scotland Solicitor panel exclude Licensed Conveyancers
Royal Bank of Scotland’s conveyancing panel is, like many other lenders represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
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.
Whilst your website is a good idea there are many lawyers listed near Coventry on the Royal Bank of Scotland conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Royal Bank of Scotland approved panel?
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..
I am considering applying for a Royal Bank of Scotland mortgage for purchase of a newly converted (under development) with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Royal Bank of Scotland?
There is nothing to stop you using your solicitor but Royal Bank of Scotland will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Are all Conveyancing Quality Solicitors on the Royal Bank of Scotland conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
My offer was accepted on a house on the 17th February 2014, valuation was booked five days after, received a clean bill of health. Solicitor retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Royal Bank of Scotland and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Royal Bank of Scotland conveyancing panel. Can the lender hold off the offer?
A lender would 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?
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I've digested plenty of mortgage guides,I note that it is considered advisable to 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.
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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.