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approved by Reliance
Ready to buy a new home? Failing to check that a lawyer is on the Reliance list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?How does my firm apply to be on the Reliance Bank Ltd Conveyancing Panel? How can my firm be reinstated onto the Reliance Bank Ltd Conveyancing Panel?
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Q and A’s regarding the Reliance Bank Solicitor Panel
What is the rationale as to why all UK lawyers aren't included on the Reliance Bank Solicitor panel?
Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
Please help. My conveyancer is assuring me that he has to order a Local Authority search as the firm are on the Reliance Bank conveyancing panel. Is my lawyer correct?
You have limited options available to you. As you are taking a mortgage with Reliance Bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Reliance Bank’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Reliance Bank. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Do I need to attend the offices of the Reliance Bank conveyancing panel solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Leeds so that I can attend their offices if necessary.
Most conveyancing panel lawyers for Reliance Bank undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
My grandfather passed away 10 months ago and as sole heir and executor was left the house. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Reliance Bank , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Reliance Bank will insist on your using a conveyancer on the Reliance Bank conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Reliance Bank conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Reliance Bank mortgage is registered as a charge at the Land Registry.
Are all Conveyancing Quality Solicitors on the Reliance Bank conveyancing panel?
Some major lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
I have paid off my mortgage with Reliance Bank. I assume I don't need a solicitor on the Reliance Bank panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Reliance Bank mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Reliance Bank mortgage from the register. Reliance Bank,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage: but are not moving to another property where the Reliance Bank has sent the Land Registry the discharge electronically, and the Reliance Bank has instructed the Land Registry to do so The Land Registry will send you a letter confirming that your Reliance Bank mortgage has been paid off.
I have a mortgage with Reliance Bank. Conveyancing has been completed some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Reliance Bank?
Reliance Bank must be informed of your intention prior to letting out your property as this is likely to be a breach of Reliance Bank’s mortgage conditions. It may be that Reliance Bank will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Reliance Bank directly. You need not do this via a Reliance Bank conveyancing panel solicitor.