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 Solicitor Panel
My partner and I are first time buyers. Within the last couple of days our solicitor has forwarded the sale agreement to sign with a detailed report with the expectation that exchange is imminent. RBS - Virgin One have this afternoon contacted us to inform me that there is now an issue as our lawyer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme.
Your solicitors should contact RBS - Virgin One and see if they can apply for membership of the RBS - Virgin One conveyancing panel, but if that is not viable RBS - Virgin One will instruct their own lawyers to represent them. You don't have to instruct a firm on the RBS - Virgin One conveyancing panel and you may continue to use your own solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Our god-son is buying a new build apartment with a home loan from RBS - Virgin One. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved 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 valuer when asked.
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.
Whilst your website is a good idea there are many lawyers listed near Newcastle on the RBS - Virgin One conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the RBS - Virgin One approved panel?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
My solicitors in Newcastle have advised me that no longer have 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?
It very much depends from lender to lender 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.
We have a mortgage agreed in principle with RBS - Virgin One. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from RBS - Virgin One?
Some lenders take longer than others. Have RBS - Virgin One done the survey? Have you advised RBS - Virgin One as your lawyers details and checked that your lawyer is on the RBS - Virgin One conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
The mortgage over my property is with RBS - Virgin One. Conveyancing was finalised months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform RBS - Virgin One?
RBS - Virgin One must be informed of your intention before renting your property as this is likely to be a breach of RBS - Virgin One’s mortgage conditions. In many cases banks or building societies will permit you to let 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 - Virgin One directly. It should not be necessary to do this via a RBS - Virgin One conveyancing panel firm.
My ex -wife’s name is on the RBS - Virgin One mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the RBS - Virgin One mortgage in order to sell?
In terms of the RBS - Virgin One mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of RBS - Virgin One in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.