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approved by RBS - Virgin One

Ready to buy a new home? Failing to check that a lawyer is on the RBS - Virgin One 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 Virgin One Conveyancing Panel

Common questions asked concerning the RBS - Virgin One Solicitor Panel

I am in the process of selling my house and the EA has just e-mailed to warn that the purchasers are changing their solicitor. I am told that this is due to the fact that RBS - Virgin One will only deal with property lawyers on their approved list. On what basis would a major mortgage company only deal with specific solicitors?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.

Lenders point to the increase in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.

My grandson is purchasing a newly built flat with a home loan from RBS - Virgin One. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the RBS - Virgin One conveyancing panel as a standard part of the process, and to the surveyor 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 - Virgin One conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

Is it necessary during the course of the conveyancing process to visit the offices of the RBS - Virgin One conveyancing panel solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Leeds so that I can attend their offices if required.
Whereas this was necessary 12 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 Leeds .
My conveyancers in Birmingham have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with RBS - Virgin One. Is it case that being on the RBS - Virgin One conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements 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 - Virgin One Conveyancing Panel Terms. It might be worth you contacting RBS - Virgin One directly.
is it true that all solicitor practices on the RBS - Virgin One conveyancing panel regulated 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 Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to move forward? I hope to get a mortgage with RBS - Virgin One. 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 RBS - Virgin One involved you will need to appoint a solicitor on the RBS - Virgin One 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 RBS - Virgin One. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the RBS - Virgin One conveyancing panel.
RBS - Virgin One 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 - Virgin One or your broker and complete any relevant paperwork. RBS - Virgin One will tell you what documents they want. RBS - Virgin One 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 - Virgin One 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.