Removal from the RBS (One Account) and other lender panels: Why they do it and how to get reinstated
- Significant delays in registering a charge on behalf of RBS (One Account) Delays or failure to register the RBS (One Account) charge may result in referral to external lawyers of RBS (One Account) to complete outstanding requirements.
- Breaches of RBS (One Account) conveyancing panel requirements
- Non-compliance with the RBS (One Account) panel terms, the written instructions that RBS (One Account) give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which RBS (One Account) may subsequently subscribe.
- Your firm fails to meet the criteria to remain on the RBS (One Account) conveyancing panel
- Failure to reapply to be on the RBS (One Account) convincing panel
Answers to Frequently asked questions concerning RBS (One Account) panel reinstatement
- Does my practice need to apply annually to be reinstated on the RBS (One Account) conveyancing panel?
- Can we act for RBS (One Account) while the appeal for reinstatement on the RBS (One Account) panel is being reviewed? How do I know if our reinstatement application to the RBS (One Account) panel is approved?
- What are the next steps open to me if our RBS (One Account) panel reinstatement application is refused and our client has a mortgage offer with the RBS (One Account)?
- Does the COLP in my firm need to complete the reinstatement application to the RBS (One Account) panel ?
- Is there a charge to revert back onto the RBS (One Account) conveyancing panel?
Top Tip: The best way to avoid the hassle of seeking RBS (One Account) panel reinstatement is to ensure that your firm is not removed off of the RBS (One Account) conveyancing panel in the first place.
Note: Subject to certain conditions Lexsure’s experts or consultants can assist in providing you with guidance for reinstatement onto the RBS (One Account) conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to RBS (One Account) directly or via their preferred panel manager. Any reinstatement application will have to be made by your firm. For the avoidance of doubt, Lexsure (or the Conveycentric Team) are in no way involved in managing the RBS (One Account) conveyancing panel.