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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.
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How does my firm apply to be on the The Royal Bank of Scotland plc Virgin One Conveyancing Panel? How can my firm be reinstated onto the The Royal Bank of Scotland plc Virgin One Conveyancing Panel?Find an Approved Solicitor on the The Royal Bank of Scotland plc Virgin One Conveyancing Panel
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I have been advised by my broker that I have to pay RBS - Virgin One fees if I use my own solicitor. How good are the RBS - Virgin One conveyancing panel solicitors? I dont care which law firm I use provided that they are good and not exorbitantly priced. Would you recommend a specific law firm on the RBS - Virgin One panel?
RBS - Virgin One’s conveyancing panel is pretty large so it would be advisable to check with the firms you are getting quotes from that they are on the panel. You can search by postcode on the search tool on this site to find solicitors that RBS - Virgin One will allow to act for them.
We are approaching an exchange and my parents having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender RBS - Virgin One. Apparently, being on the RBS - Virgin One conveyancing panel and acting on their behalf he must inform RBS - Virgin One if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with RBS - Virgin One to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to RBS - Virgin One if you agree, failing which, your lawyer must cease to continue acting.
What tools are available to find a local solicitor on the RBS - Virgin One conveyancing panel? I have a car and am prepared to travel up to 20 kilometers to meet the lawyer.
Feel free to make use of the find a conveyancing panel search on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the RBS - Virgin One solicitor panel.
What happens if my lawyer’s firm is removed from the RBS - Virgin One Conveyancing panel prior to completion?
First, this is a very rare occurrence. 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.
How can we tell if a solicitor on the RBS - Virgin One panel is any good?
seeking recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer conducting your conveyancing
We have had an offer accepted on a flat I spoke to a lawyer previously used by my brother and he advised using a law firm approved by RBS - Virgin One. The estate agent recommended two local firms so I asked RBS - Virgin One if the 2 suggested solicitors are approved, which they are not. RBS - Virgin One suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of RBS - Virgin One 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of RBS - Virgin One to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the RBS - Virgin One conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto RBS - Virgin One conveyancing panel as it may only take about 2-3 weeks. As long as they meet RBS - Virgin One’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
At last I have had an offer on an apartment 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 booked. 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.
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