Looking for information about your firm's panel status?
RBS - Virgin One Solicitor Panel: Recently Asked Questions
Are RBS - Virgin One Conveyancing panel lawyers obliged to disclose incentives?
RBS - Virgin One’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements
Do the Council of Mortgage Lenders intend to launch a online directory search tool with a view
to list law firms on the
RBS - Virgin One conveyancing panel?
We are not aware of any intention on the part of the CML to develop such a tool.
Theoretically RBS - Virgin One could request or audit my files as I am on the
RBS - Virgin One conveyancing panel. Are there any confidentiality issues that I need to consider first?
We can't comment specifically on
RBS - Virgin One. Many major lenders are now introducing ‘file auditing’ as standard practice in relation to completed matters. This raises questions of confidentiality in relation to the buyer client and the purpose to which the results of such audits will be put. The starting point is to remember that the file does not belong to your firm, it belongs to the ‘client’. But, of course, we will normally have two clients – the buyer and the lender - and you will owe a duty of confidentiality to each. So basically, you have to separate the file and just send the lender the parts solely relating to themselves. But, of course, as this will basically be correspondence with the lender, mortgage instructions etc.
Check with your COLP but a firm should not send the complete conveyancing file without the buyer client’s express consent – and if he is in dispute with the lender she is hardly likely to agree. However, if the lender can establish a prima facie case of fraud, then you may be under an obligation to disclose the whole file.
The emerging convention is that lenders are including an authority to disclose in loan application forms to counter this problem. Mortgage Express v Sawali, [2010] EWHC 3054 (Ch) indicates that such provisions are valid. Please click here for more information about that case.
I read the occasional LENDERmonitor notification but I don't see that many important changes. By way of illustration, I am on the
RBS - Virgin One conveyancing panel and receive a notification simply telling me a change of address. Does that matter?
It is important that you take note of such changes because sending a communication or deeds to the wrong address can cause delays that might not only affect your borrower client but also affect your ability to remain on the
RBS - Virgin One solicitor panel. Is possible next month that RBS - Virgin One change their requirements as to where the post completion documents should be sent.
Do you update the details in your case management system? Is this recorded anywhere? Is this communicated to the staff? In your Certificate of Title to RBS - Virgin One you are giving assurances that you will send the deeds within 10 days of receiving the TID. Leaving to one side whether you are in breach of an undertaking in sending it to the wrong address, you run the risk of
RBS - Virgin One suspending you off the panel because they are not receiving the deeds in accordance with the COT. It will not be a valid excuse to say that you sent it to an address that is no longer valid.
Are figures published regarding the
RBS - Virgin One conveyancing panel size as well as the number of conveyancing firms removed from their panel each year?
With mortgage companies and conveyancers working so closely with one another it is surprising that there has not been much call for the introduction of a bit of transparency regarding not just the figures for the
RBS - Virgin One conveyancing panel but for all lender panels
My firm has just been advised that it’s RBS - Virgin One panel membership revoked but we have not yet been given a reason as to why.
I am completing a CQS renewal questionnaire what information should I put forward?
In the circumstances please explain on the form what steps you have taken to find out the reasons behind cancellation of your
RBS - Virgin One panel status.
In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?
Our practice is on the
RBS - Virgin One
conveyancing panel and scheduled to complete a purchase within the next week. My papers do not include a Mortgage Deed for the client to sign.
Who do I contact at RBS - Virgin One to request substitute deeds?
You would be advised to contact RBS - Virgin One
to obtain standard documents. The CML Handbook includes an explicit inquiry for banks to establish who to contact to obtain standard documents.
RBS - Virgin One in their Part 2’s state:
Always remember to quote the firm’s RBS - Virgin One conveyancing panel number.
Find a Lawyer on the RBS - Virgin One Conveyancing Panel
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Average number of days to register title including a charge in favour of RBS - Virgin One
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited RBS - Virgin One Firms
- Draft Report on Title precedent for RBS - Virgin One borrowers
- Draft Anti Money Laundering PolicyTemplate for RBS - Virgin One panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the RBS - Virgin One lender panel
- Buy-to-Let help for RBS - Virgin One
- Consent-to-Let help for RBS - Virgin One
- Contractor Mortgages with RBS - Virgin One
