Frequently asked questions relating to the DB UK Bank Conveyancing Panel
from members of the public
I would like to know the reason why all solicitors aren't included on the DB UK 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
Our nephew is in the process of securing a house that has just been built with a home loan from DB UK Bank. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the DB UK Bank conveyancing panel as a standard part of the process, and to the valuer when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the DB UK Bank conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I require the services of a DB UK Bank panel solicitor in Belfast. Can you assist?
It is not clear why you need a DB UK Bank panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to DB UK Bank to find out which solicitors in DB UK Bank are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
I was supposed to move into my dream home last Thursday. My solicitor is on the DB UK Bank solicitors panel but has moved offices in the past couple of months and had not informed DB UK Bank of their new address. DB UK Bank is now refusing to release my funds as the information from the solicitors isn't correct.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local DB UK Bank branch or your mortgage broker to see if they can help.
Are all solicitor practices on the DB UK Bank conveyancing panel overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the DB UK 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).
How can we tell if a solicitor on the DB UK Bank panel is any good?
seeking recommendations is a sensible start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor handling your transaction
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender DB UK Bank be concerned
As your lender is DB UK Bank your lawyer must to check the DB UK Bank conveyancing instructions contained in the Part of CML Handbook for DB UK Bank . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to DB UK Bank where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.