Looking for information about your firm's panel status?
RBS - Virgin One Solicitor Panel: Recently Asked Questions
Are RBS - Virgin One Conveyancing panel lawyers under an obligation 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
Is it the case that the Law Society has advised that firms check their status on the
RBS - Virgin One conveyancing panel?
The Scottish Law Society has suggested that solicitors should check their panel status with lenders before accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the
RBS - Virgin One conveyancing panel. The recommendation arises from the practice of a number of mortgage lenders who remove solicitors from their panels without prior notice as part of their panel management system, which can lead to some solicitors discovering this only once instructed. This is sensible advice as a client finding out midway through a transaction that their lawyer is not on the approved lender panel is very frustrating and can lead to complaints. Many online consumer forums contain posts where someone is complaining about finding that their lawyer is not on a lender conveyancing panel. Such forums include mumsnet.com
Why are Estate Agents using search tools to check if lawyers are on a lenders conveyancing panel?
Many estate agents are suffering if their clients start out on the conveyancing process using a solicitor who is not on the panel with the purchaser’s chosen lender. Many
conveyancing firms are only discovering when they begin working on a
case that they are no longer able to work with that lender. Given
the inevitable resultant delays in the transaction the chances of an
abortive deal increases dramatically. in the circumstances there is
understandable anguish on the part of the estate agent as a result of
the lost time should the client have to change solicitors .
Do lenders such as
RBS - Virgin One run detached conveyancing panel for buy to let mortgages?
Most lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with
RBS - Virgin One as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from
RBS - Virgin One we suggest that you call
RBS - Virgin One to check the position.
Given that I am the COLP for my firm should I be thinking about SRA Handbook implications if my firm is removed off the
RBS - Virgin One solicitor panel?
The answer to this question really depends on the reason that your firm has been removed off the RBS - Virgin One
conveyancing panel. The top 3 reasons are as
follows:
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction.
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 application form what information should I put forward?
In the circumstances please explain on the form what steps you have taken to discover 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 revocation of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?
I am on the
RBS - Virgin One
conveyancing panel and due to complete a remortgage within the next few weeks. My file does not contain a Mortgage Deed for the client to sign.
Who do I contact at RBS - Virgin One to get a duplicate Deed?
You would be advised to get in touch with RBS - Virgin One
to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an explicit question for lenders to establish who to contact to obtain standard documents.
RBS - Virgin One in their Part 2’s state:
Don’t forget to quote the firm’s RBS - Virgin One solicitors panel reference.
Find a Lawyer on the RBS - Virgin One Conveyancing Panel
powered by LenderPanel
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* |
---|---|
2024 | [no data] |
2023 | [no data] |
2022 | [no data] |
2021 | [no data] |
2020 | [no data] |
2019 | [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