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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

Frequently asked questions relating to the RBS - Virgin One Conveyancing Panel

Is there a reason why all property lawyers aren't included on the RBS - Virgin One Solicitor panel?
Even though it may seem unfair for RBS - Virgin One to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern RBS - Virgin One have restricted their conveyancing panel to a manageable size. The RBS - Virgin One lawyer panel is not the most difficult to join
Expecting to move into my new home next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in has capacity as lawyer for RBS - Virgin One. What does the insurance need 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 I need to visit the offices of the RBS - Virgin One conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in London so that I can attend their offices when needed.
Most conveyancing panel lawyers for RBS - Virgin One undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
Please explain the implications if my lawyer’s firm is expelled from the RBS - Virgin One Conveyancing panel before the moving date as agreed at exchange of contracts?
First, this is very unlikely to happen. 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 for a fee.
Are all conveyancing solicitors on the RBS - Virgin One conveyancing panel overseen by the SRA?
As a firm of 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).
My offer on house has been accepted, the seller does however have a dependent purchase. 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 do I do now? 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.
We are are remortgaging a terraced house in Hendon. Conveyancing solicitors in Hendon are preferred to begiven the go-ahead. My brother-in-lawsuggested that we make sure that the property lawyer in Hendon is on the RBS - Virgin One panel. Aren't all lawyers on the RBS - Virgin One panel?
Far from all Hendon conveyancing firms are on the RBS - Virgin One conveyancing panel. Click here to locate a Hendon conveyancing practitioner on the on the RBS - Virgin One solicitors pane.