RBS- First Active Conveyancing Panel Information

The Council of Mortgage Lender requirements of RBS- First Active are silent on this. Most mortgage companies deal with the question of file retention via their Terms and Conditions 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- First Active’s interest. To be absolutely sure of RBS- First Active requirements in this regard please check the Terms and Conditions of RBS- First Active’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- First Active conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Details of any accreditation e.g. Lexcel or

List of fee-earners who are foreign qualified

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.

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

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

Full complaints history for each licensed conveyancer

top-up split and history of any refusals

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

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

List of all solicitors within firm

One might ordinarily expect RBS- First Active via their Part Two requirements to address this but the Handbook is silent on time frames. You need to look at the Terms of RBS- First Active’s Conveyancing Panel Appointment that you are bound by. For many lender's these Terms include a provision such as: ‘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’ It is imperative to keep RBS- First Active updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

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

You need to get in touch with RBS- First Active to obtain standard documents. The CML Handbook includes an individual inquiry for banks to enumerate who to contact to obtain standard documents. RBS- First Active in their Part 2’s state: Always remember to disclose the firm’s RBS- First Active solicitors panel number.