Royal Bank of Scotland -Natwest One Conveyancing Panel Information

The requirements to join the Royal Bank of Scotland -Natwest One conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

The CML Part II requirements of Royal Bank of Scotland -Natwest One are silent on this. Most lenders address 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 Royal Bank of Scotland -Natwest One’s interest. To be absolutely sure of Royal Bank of Scotland -Natwest One requirements in this regard please check the Terms and Conditions of Royal Bank of Scotland -Natwest One’s conveyancing panel appointment.

The Council of Licensed Conveyancers has begun dialogue with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Royal Bank of Scotland -Natwest One in recent years.

When a solicitor is acting for both Royal Bank of Scotland -Natwest 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 Royal Bank of Scotland -Natwest One and it may well be prudent you to cease to act for the purchaser as well. You can not tell the Royal Bank of Scotland -Natwest 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 Royal Bank of Scotland -Natwest One conveyancing panel status.

CQS accreditation gives no guarantee to lender panel acceptance. Nevertheless the Council of Mortgage Lenders have indicated that it is likely to become a prerequisite for firms wishing to join their approved list of firms. Some Lenders now use the Conveyancing Quality Scheme accreditation as the starting point for Panel approval such as HSBC.

You should get in touch with Royal Bank of Scotland -Natwest One to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an individual section for banks to enumerate who to contact to obtain standard documents. Royal Bank of Scotland -Natwest One in their Part 2’s state: It is likely that you will need to quote the firm’s Royal Bank of Scotland -Natwest One conveyancing panel reference.