RBS - Direct Line One Conveyancing Panel Information

In the same way that there is a unique RBS - Direct Line One conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

During 2013, 89 sections of the UK Finance Lenders’ Handbook P2 were changed by RBS - Direct Line One. Some changes are more important than others but as a firm on the RBS - Direct Line One 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.

On the basis that your practice in is on the RBS - Direct Line One conveyancing panel and you are instructed by 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 RBS - Direct Line One are to lend, they may require indemnity insurance. In any event,you will need to check RBS - Direct Line One’s specific requirements. Notwithstanding whether RBS - Direct Line One will lend in such circumstances you still need to advise the borrower (unless you are acting for RBS - Direct Line One alone) as to the risks of buying a property with an insolvent or absentee landlord.

With mortgage companies and conveyancers working so closely together it is surprising that there has not been greater demand for the introduction of a bit of transparency regarding not just the figures for the RBS - Direct Line One conveyancing panel but for all bank panels

It would be advisable to supply details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not negatively affect your application but gives the Law Society viability as to what has gone on.

You need to communicate with RBS - Direct Line One to obtain standard documents. The The Council of Mortgage Lenders Handbook has an individual question for lenders to cite who to contact to obtain standard documents. RBS - Direct Line One in their Part 2’s state: Always remember to disclose your RBS - Direct Line One solicitors panel reference.