Royal Bank of Scotland Conveyancing Panel Information

Although not necessarily published, lenders have varying criteria . 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 solicitors within firm

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

Charge registration history

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

Number of partners per branch of the firm

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

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

Full complaints history for each licensed conveyancer

conveyancer client account(s) details

As is the case with the Law Society the Council of Licensed Conveyancers has initiated discussions with lenders 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 as well as the BSA.

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.

For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Royal Bank of Scotland conveyancing panel to see if you are entitled to a reason.

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 remain on their approved list of firms. Some mortgage companies now use the scheme as the starting point for Panel approval such as Astra Mortgages.

You need to contact Royal Bank of Scotland to obtain standard documents. The CML Handbook includes an express question for banks to enumerate 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 solicitors panel reference.