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Royal Bank of Scotland Conveyancing Panel: Recently Asked Questions
Royal Bank of Scotland have asked me to represent them alone on a residential conveyancing matter , using the CML Lender’s Handbook. The borrower has his own solicitor (not on the
Royal Bank of Scotland conveyancing panel) How does this operate and are there different requirements from Royal Bank of Scotland in this case?
The CML, along with
Royal Bank of Scotland and other lenders developed a standard set of requirements where a conveyancer is representing a lender such as Royal Bank of Scotland alone in a residential conveyancing matter.
These obligations are contained at Part 3 of the UK Finance Lenders’ Handbook and are to be followed together with Part I and II.
The CML have published an example requirements letter to the borrower’s lawyer for use by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel conveyancer.
Is there a standard appeals process to prevent solicitors from being unfairly removed them from lender conveyancing panels?
We have come across many solicitors who feel they have been removed from lenders’ panels without an explanation or a good
reason. It is highly unlikely, given that lenders have distanced
themselves from creating a standardised appeals process for
brokers, that an appeals process will be introduced for
lawyers. Commenting on the call by brokers to have a standardised
process the CML said’ “While we understand that some lenders do have
an appeals process, it would not be appropriate for a trade body such
as the CML to seek to be prescriptive about such a process.” Some
lenders do of course set out an appeals policy. The Law Society does
have information on it’s site that may be of assistance. If you would
like to talk to one of our compliance experts about our Lender Panel
Protection Service please click
here.
What obligations do I have,
being on the
Royal Bank of Scotland conveyancing panel, to carry out a flood search?
Royal Bank of Scotland make no specific obligation to carry out any of
the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must
ensure that any other searches which may be appropriate to the
particular property, taking into account its locality and other
features are carried out’.
Please note that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Royal Bank of Scotland are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the borrower.
Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Does your ROT and Ts and Cs cover this?
One search provider lists over 65 conveyancing searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location call your search provider or call one of the leading search companies such as Searches UK.
A long standing client of my firm is looking to purchase a detached house for £750k in London requiring a mortgage advance over GBP 410k.
I am on the
Royal Bank of Scotland conveyancing panel but do Royal Bank of Scotland have a separate approved panel when the advance is above 400,000?
Lexsure only know of a couple of banks that operate a distinct conveyancing panel where the mortgage advance is over a certain amount.
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
What is the CLC doing to protect licensed conveyancers from being removed from lender panels?
As is the case with the Law Society the CLC has entered dialogue with banks and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. It is likely that that the CLC have been in touch with lenders such as
Royal Bank of Scotland in recent years.
Will Conveyancing Quality Scheme acceptance secure my firm’s acceptance on to lenders conveyancing panels?
The Law Society’s CQS accreditation is no guarantee to lender panel acceptance. Nevertheless the Council of Mortgage Lenders have indicated that it is likely to become a prerequisite for firms wishing to remain on their approved list of firms. Some mortgage companies now use CQS as the starting point for Panel approval as is the case with HSBC.
Our practice is on the
Royal Bank of Scotland
conveyancing panel and all set to complete a purchase within the next week. My file does not contain a Mortgage Deed for the client to sign.
Who do I contact at Royal Bank of Scotland to obtain duplicate documents?
You need to contact Royal Bank of Scotland
to obtain standard documents. The CML Handbook incorporates an individual inquiry for lenders to reveal who to contact to obtain standard documents.
Royal Bank of Scotland in their Part 2’s state:
It helps to quote your Royal Bank of Scotland conveyancing panel reference.
Find a Lawyer on the Royal Bank of Scotland Conveyancing Panel
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Average number of days to register title including a charge in favour of Royal Bank of Scotland
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Royal Bank of Scotland Firms
- Draft Report on Title precedent for Royal Bank of Scotland borrowers
- Draft Anti Money Laundering PolicyTemplate for Royal Bank of Scotland panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Royal Bank of Scotland lender panel
- Buy-to-Let help for Royal Bank of Scotland
- Consent-to-Let help for Royal Bank of Scotland
- Contractor Mortgages with Royal Bank of Scotland
