RBS - Virgin One Conveyancing Panel Information

RBS - Virgin One 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’.

Remember that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as RBS - Virgin One 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 client.

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. Is this covered within your Terms of Engagement or Report on Title?

A leading search provider lists over 70 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 STL.

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 RBS - Virgin One conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

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

SRA or equivalent regulator registration number where applicable

Whether the firm has ever applied for accreditation and the outcome of the application

List of all those who can sign off the Certificate Of Title

Full complaints history for each conveyancing solicitor

Solicitor

Whether the firm is able to operate in other jurisdictions

Automated alerting to inform lenders when there is a fundamental change to the firm (e.g. change of name)

House price discrepancies (declared to lender vs. registered at Land Registry)

List of fee-earners who are foreign qualified

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 RBS - Virgin One conveyancing panel to see if you are entitled to a reason.

14 borrowers attempt to locate a conveyancer on the RBS - Virgin One panel on a monthly basis in Hendon. Please contact the team at lenderpanel.com to see how your firm can be found by those searching for conveyancing in Hendon.

In the circumstances please clarify on the form what action you have taken to discover the reasons behind cancellation of your RBS - Virgin One panel membership. In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?

You should communicate with RBS - Virgin One to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an explicit inquiry for lenders to reveal who to contact to obtain standard documents. RBS - Virgin One in their Part 2’s state: Always remember to disclose the firm’s RBS - Virgin One conveyancing panel number.