Royal Bank of Scotland Conveyancing Panel Information

Lexsure only know of two or three lenders that operate a distinct conveyancing panel where the mortgage advance is over a certain level. You should nevertheless check directly with Royal Bank of Scotland. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Royal Bank of Scotland

Criteria differ from lender to lender. We do not hold specific requirements relating to the questions raised as part of the application to be on the Royal Bank of Scotland conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Structure of firm and, where applicable, its group

List of all Licensed Conveyancers within firm

The percentage of the firm’s business which is conveyancing (broken down into sale

Full complaints history for each licensed conveyancer

Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers

conveyancer client account(s) details

Whether any lender has ever made a claim against the firm’s PII cover

Number of partners per branch of the firm

Charge registration history

Whether the firm has ever accepted instructions in respect of property clubs and investment schemes

You might expect Royal Bank of Scotland via their Part 2 conditions to address this but the Handbook makes no mention on time frames. You need to look at the Terms of Royal Bank of Scotland’s Conveyancing Panel Appointment that you are bound by. For a number of banks these Terms contain a provision such as: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is imperative to keep Royal Bank of Scotland updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

Given that your firm in is on the Royal Bank of Scotland conveyancing panel and you are representing them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Royal Bank of Scotland are to lend, they may require indemnity insurance. In any event,you will need to check Royal Bank of Scotland’s specific requirements. Notwithstanding whether Royal Bank of Scotland will lend in such circumstances you still need to advise the borrower (unless you are acting for Royal Bank of Scotland alone) as to the risks of buying a property with an insolvent or absentee landlord.

CQS membership is no guarantee to lender panel acceptance. Nevertheless the CML have indicated that it is likely to become a prerequisite for firms wishing to join their panels. Some mortgage companies now use the Conveyancing Quality Scheme accreditation as the starting point for Panel acceptance as is the case with Santander.

You need to communicate with Royal Bank of Scotland to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an individual inquiry for lenders to set out who to contact to obtain standard documents. Royal Bank of Scotland in their Part 2’s state: Don’t forget to quote the firm’s Royal Bank of Scotland conveyancing panel number.