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approved by RBS (One Account)
Ready to buy a new home? Failing to check that a lawyer is on the RBS (One Account) list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the The Royal Bank of Scotland plc One Account Conveyancing Panel? How can my firm be reinstated onto the The Royal Bank of Scotland plc One Account Conveyancing Panel?Find an Approved Solicitor on the The Royal Bank of Scotland plc One Account Conveyancing Panel
Examples of recent questions relating to the RBS (One Account) Conveyancing Panel
We are hoping to buy a 2 bedroom apartment in Hackney with a mortgage from RBS (One Account). We like our solicitor but RBS (One Account) says he's not on their "panel". We have to appoint one of the RBS (One Account) panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the RBS (One Account) conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for RBS (One Account)
I am due to complete my purchase next Thursday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for RBS (One Account). What risks do RBS (One Account) expect the insurance to cover?
Any lawyer on the RBS (One Account) 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 (One Account)’s Part 2 requirements of the CML Handbook (last updated on RBS (One Account)). Being on the RBS (One Account) conveyancing panel your lawyer is expect to follow these instructions.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the RBS (One Account) conveyancing panel. My lawyer has said that they are on the RBS (One Account) approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the RBS (One Account) conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the RBS (One Account) solicitor panel.
The solicitors that just started acting on my house acquisition in Hendon has suddenly closed. I only went with them because I had to have a lawyer on the RBS (One Account) conveyancing panel and my previous lawyer was not. I gave my credit card details for them to take £175 for searches. What are my options?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the RBS (One Account) conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist
When it comes to lenders such as RBS (One Account) do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We expect to receive a DIP from RBS (One Account) this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the RBS (One Account) recommend a solicitor on the RBS (One Account) conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the RBS (One Account) conveyancing panel. The solicitor represents both you and the RBS (One Account) through the process.
I currently have a mortgage with with RBS (One Account). Conveyancing was finalised 12 months 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 (One Account)?
You must advise RBS (One Account) before letting out your property as this is likely to be a breach of RBS (One Account)’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 (One Account) directly. You need not do this via a RBS (One Account) conveyancing panel firm.
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