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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
Q and A’s regarding the RBS - Virgin One Solicitor Panel
I was advised recently by my mortgage adviser that my solicitor is not on the RBS - Virgin One Solicitor panel. How can I be sure that this is correct?
The first thing you need to do is to contact your lawyer directly. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a firm that is on the the approved RBS - Virgin One solicitor panel.
Expecting to move into my new home next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for RBS - Virgin One. What risks do RBS - Virgin One expect the insurance to cover?
All property lawyers on the RBS - Virgin One conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in RBS - Virgin One’s Part 2 requirements of the CML Handbook (last updated on RBS - Virgin One). Being on the RBS - Virgin One conveyancing panel your lawyer is expect to follow these requirements.
Do all the firms listed on your directory have online case tracking as I understood that this was a condition of being on the RBS - Virgin One solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am buying a garden flat and getting a mortgage with RBS - Virgin One. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the RBS - Virgin One conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the RBS - Virgin One conveyancing panel in your location.
After much negotiation I have agreed a price on an apartment. My mortgage broker recommended their conveyancers I paid an upfront payment of 150. Soon after the conveyancers contacted me sheepishly admitting that they were not on the RBS - Virgin One conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS - Virgin One panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender 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.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? At what point should I appy for the mortgage with RBS - Virgin One?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the RBS - Virgin One conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with RBS - Virgin One and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.