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

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

Full complaints history for each licensed conveyancer

SRA or equivalent regulator registration number where applicable

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

Automated alerting to inform lenders when there is a fundamental change to the firm (e.g. new disciplinary action)

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

Structure of firm and, where applicable, its group

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.

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

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

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:

• 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.
• 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.
• 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.)
• 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

When a solicitor is acting for both RBS - Direct Line One and borrower there is potential for conflicts to arise. You owe duties to both clients. All information received by you from your client is confidential and cannot be disclosed without the client’s consent. In the situation you find yourself in if the purchaser will not consent to the information being passed on to the lender the solicitor must cease to act for the RBS - Direct Line One and it may well be prudent you to cease to act for the purchaser as well. You can not tell the RBS - Direct Line One the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your RBS - Direct Line One conveyancing panel status.

You will be aware of the trend in recent years for lenders such as RBS - Direct Line One to take a much more pro-active approach in relation to the management and make up of their conveyancer panels. The knock on effect of this is that it is more likely that there will be a higher number of cases where a conveyancer is not on the RBS - Direct Line One panel. The situation that you find yourself in is where your client’s purchaser has his/her own lawyer and RBS - Direct Line One have appointed a separate lawyer to act on their behalf where the new CML Part 3 requirements apply. Section 11.1 of the UK Finance Lenders’ Handbook Part 3 requires RBS - Direct Line One’s panel solicitor to ‘ ...transfer the mortgage advance directly to the Seller’s conveyancer. The Seller’s conveyancer must be required to hold the mortgage advance on the terms of the required undertaking. The example borrower’s conveyancer’s undertaking letter includes a specific example of the seller’s undertaking’. You should expect to be advised to received the mortgage advance directly from the conveyancing solicitors for RBS - Direct Line One. You will no doubt be required to undertake directly to RBS - Direct Line One’s solicitors to discharge any charges secured on the property and to send directly to them the executed transfer and any other documents required to enable us to effect registration. Please remember to carefully consider undertakings in accordance with your firm’s protocol and record them in your undertakings logg. Please remember that as well as this breach of this undertaking having regulatory and compliance implications it’s breach could also result in your firm being removed off the RBS - Direct Line One conveyancing panel.

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 CQS team a complete picture of what has happened.

You should contact RBS - Direct Line One to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an individual question for lenders to enumerate 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 reference.