RBS - Direct Line One Conveyancing Panel Information

The CML Part II requirements of RBS - Direct Line One are silent on this. Most mortgage companies deal with the question of file retention via their Terms of panel appointment where they generally provide that for evidential purposes, the firm must keep the file for a minimum six years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect RBS - Direct Line One’s interest. To be absolutely sure of RBS - Direct Line One requirements in this regard please check the Terms and Conditions of RBS - Direct Line One’s conveyancing panel membership.

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

Full complaints history for each licensed conveyancer

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

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

List of all those who fund the firm, including non-lawyers if applicable

SRA or equivalent regulator registration number where applicable

Structure of firm and, where applicable, its group

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

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

Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.

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

In order to be on the RBS - Direct Line One conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily RBS - Direct Line One) are as follows:

• To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds.)
• Without prejudice to your obligation to comply in full with the Safeguards provisions in the CML Lenders’ Handbook, to report to us as soon as possible any suspicion that you have about the genuineness of any transaction in any respect.
• You have the consent of all borrowers to apply for the deeds, before making any request for deeds. We will accept your request for deeds on the understanding that you have obtained such consent. If this is not the case then you should advise our Deeds Services Department in writing when you make your request
• To quote on all communications with us relating to deeds/registration issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
• That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.

We would recommend that you 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 adversely impact your firm’s application but gives the CQS team viability as to what has occured.

You need to communicate with RBS - Direct Line One to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an explicit section for lenders to establish who to contact to obtain standard documents. RBS - Direct Line One in their Part 2’s state: It is likely that you will need to quote the firm’s RBS - Direct Line One conveyancing panel number.