Find an Approved Solicitor on the DB UK Bank Ltd
Conveyancing Panel
DB UK Bank Solicitor Panel Example Support Desk Enquires
My partner and I are first time buyers. Within the 48 hours our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. DB UK Bank have this afternoon contacted us to inform me that there is now an issue as our conveyancer is not on their approved list of lawyers. What do we do from here?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme.
Your solicitors should contact DB UK Bank and see if they can apply for membership of the DB UK Bank conveyancing panel, but if that is not viable DB UK Bank will instruct their own solicitors to act. You don't have to instruct a firm on the DB UK Bank conveyancing panel and you may continue to use your own solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
I am purchasing a newly constructed flat and my lawyer is advising me that she has to reveal incentives from the developer as her firm is on the DB UK Bank conveyancing panel. I am nearing the developer’s deadline to exchange and I dont want to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the DB UK Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on DB UK Bank). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I see that you have a search directory listing solicitors on the DB UK Bank conveyancing panel. Do firms pay you a commission if I retain them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the DB UK Bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
Please explain the implications if my lawyer’s firm is removed from the DB UK Bank Solicitor panel before completion?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the DB UK Bank conveyancing panel?
A selection of lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
Do the majority of lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the DB UK Bank conveyancing panel requirements are different to DB UK Bank’s conveyancing panel requirements.
We are are taking a long lease of a house in Hendon. Conveyancing solicitors in Hendon are about to beappointed. My brokersuggested that we double-check that the conveyancer in Hendon is on the DB UK Bank list of approved conveyancing firms. Is this really necessary?
A limited percentage of Hendon conveyancing firms are on the DB UK Bank conveyancing panel. 8 people a month use our search tool to search for a
Hendon conveyancing solicitor on the on the DB UK Bank solicitors pane.