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FAQs : The RBS - Virgin One Solicitor Panel
I am expecting a mortgage with RBS - Virgin One. I intend to employ the services of a Licensed Conveyancer. Does the RBS - Virgin One Conveyancing panel allow for Licensed Conveyancers
RBS - Virgin One’s conveyancing panel is, like many other lenders associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
My partner and I intend to remortgage our penthouse with RBS - Virgin One. We have a son approaching twenty who lives with us. The solicitor on the RBS - Virgin One conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have two concerns (1) Is this document specific to the RBS - Virgin One conveyancing panel as he did not need to sign this form when we remortgaged 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your RBS - Virgin One conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to RBS - Virgin One .This is solely used to protect the RBS - Virgin One if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of RBS - Virgin One had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I require the services of a RBS - Virgin One panel solicitor in Inverness. Could you help me?
Unfortunately it’s not apparent why you need a RBS - Virgin One panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to RBS - Virgin One to find out which solicitors in RBS - Virgin One are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
I was expecting to move into my first house last Friday. My solicitor is on the RBS - Virgin One conveyancing panel but has moved offices 8 weeks ago and had not informed RBS - Virgin One of their new address. RBS - Virgin One has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local RBS - Virgin One branch or your mortgage broker to see if they can help.
Are all solicitor firms on the RBS - Virgin One conveyancing panel overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the RBS - Virgin One conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
The mortgage over my property is with RBS - Virgin One. Conveyancing was finalised some time ago. If I am intending 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 - Virgin One?
You must advise RBS - Virgin One before renting your property as this is likely to be a breach of RBS - Virgin One’s mortgage conditions. In many cases banks or building societies 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 - Virgin One directly. It should not be necessary to do this via a RBS - Virgin One conveyancing panel solicitor.
Can I register a complaint to RBS - Virgin One about the lawyers being on the RBS - Virgin One conveyancing panel?
Complaining to RBS - Virgin One about their conveyancing panel is unlikely to yield much of a response. Every solicitor firm and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is properly dealt with by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
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