RBS (One Account) Conveyancing Panel Information

We are not aware of any intention on the part of the CML to develop such a tool.

The fact of the matter is that estate agents are suffering if their clients start out on the buying process using a solicitor who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors .

RBS (One Account) approved panel lawyers have to comply with the Part II instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if RBS (One Account) require, the deed of covenant on their behalf. You will need to check RBS (One Account) CML Part 2 conditions to see if RBS (One Account) have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the RBS (One Account) conveyancing panel

We would recommend that you provide details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not adversely impact your application but gives the CQS team viability as to what has occured.

You should contact RBS (One Account) to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an explicit section for lenders to reveal who to contact to obtain standard documents. RBS (One Account) in their Part 2’s state: Always remember to quote the firm’s RBS (One Account) conveyancing panel reference.