Reliance Bank Conveyancing Panel Recently Asked Questions
from members of the public
I need to swap lawyers as my lawyer is not on the Reliance Bank panel of conveyancing solicitors. Is it advisable to appoint a new law firm?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
Our lawyer has discovered a defect with the lease for the flat we are purchasing. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer says that as he is on the Reliance Bank conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Reliance Bank?
Just because you have a mortgage offer from Reliance Bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Reliance Bank are the client. The appropriate lender requirements have to be complied with by the Reliance Bank conveyancing panel who has to balance acting for you and Reliance Bank
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Reliance Bank conveyancing panel. My lawyer has said that they are on the Reliance Bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Reliance Bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Reliance Bank solicitor panel.
I am considering applying for a Reliance Bank mortgage for purchase of a newly converted (under development) with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Reliance Bank?
There is nothing to stop you using your solicitor but Reliance Bank will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
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 Reliance Bank be concerned
Given that you are obtaining a mortgage with Reliance Bank your lawyer must to check the Reliance Bank conveyancing instructions contained in the Part of CML Handbook for Reliance Bank . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Reliance Bank where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
I have today made my last payment due on 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. Am I right?
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 months ago. Should I wish 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?
You must advise Reliance Bank 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 firm.