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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.
Find an Approved Solicitor on the Reliance Bank Ltd Conveyancing Panel
Examples of recent questions relating to the Reliance Bank Conveyancing Panel
For what reasons would a law firm be excluded from the Reliance Bank approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been excluded from a lender panel. The most common reasons in order are :
- Low volume of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Reliance Bank
My conveyancer has uncovered a discrepancy between the surveyor’s assumptions in Reliance Bank’s valuation report and what is revealed within the legal papers for the property. My lawyer says that as he is on the Reliance Bank conveyancing panel he must ensure that the lender is with this discrepancy and is still content to lend. Is my conveyancer’s stance appropriate?
A precondition to being on the Reliance Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Reliance Bank) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Are the lawyers identified as being on the Reliance Bank conveyancing panel, together with their details provided by Reliance Bank?
The law firm practices themselves provide us confirmation that they are on the Reliance Bank conveyancing panel as opposed to being supplied with a list from Reliance Bank directly.
I would like to get my ex-wife removed the mortgage deeds. Can Reliance Bank really tell me which solicitor I can or can not instruct?
You can use any solicitor you like but Reliance Bank then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Reliance Bank solicitors panel
is it true that all solicitors on the Reliance Bank conveyancing panel regulated by the SRA?
As solicitors, in order to be on the Reliance Bank conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
The mortgage over my property is with Reliance Bank. Conveyancing was finalised some time ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let 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. In many cases banks or building societies 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. It should not be necessary to do this via a Reliance Bank conveyancing panel solicitor.
We are are remortgaging a penthouse in Hendon. Conveyancing solicitors in Hendon will soon beinstructed. My brother-in-lawrecommended that we enquire that the solicitor in Hendon is on the Reliance Bank panel. Is this right?
Far from all Hendon conveyancing firms are on the Reliance Bank conveyancing panel. Use the above search tool to find a Hendon conveyancing firm on the on the Reliance Bank approved list of lawyers.