Royal Bank of Scotland Conveyancing Panel Information

The requirements to join the Royal Bank of Scotland conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Royal Bank of Scotland as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Royal Bank of Scotland we suggest that you call Royal Bank of Scotland to check the position.

During 2013, 227 sections of the UK Finance Lenders’ Handbook P2 were changed by Royal Bank of Scotland. Some changes are more important than others but as a firm on the Royal Bank of Scotland conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

The Law Society’s CQS membership gives 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 join their approved list of firms. A number of mortgage companies now use CQS as the starting point for Panel acceptance such as Astra Mortgages.

You would be advised to communicate with Royal Bank of Scotland to obtain standard documents. The The Council of Mortgage Lenders Handbook has an individual section for banks to cite who to contact to obtain standard documents. Royal Bank of Scotland in their Part 2’s state: Always remember to quote your Royal Bank of Scotland solicitors panel reference.