Reliance Bank Conveyancing Lender Panel Compliance Tool

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COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. It is a unique risk management tool.

This software facilitates the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with alerts on Reliance Bank’s changes. While utilising the software is not a prerequisite for Reliance Bank , demonstrating you can remain up to date with Reliance Bank’s Handbook requirements is an excellent support to your panel application and, just as importantly, protect your firm’s panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces compliance and CQS reports, and will enhance your firm's efficiency. It is also user friendly, cost-effective and, for many firms, leads to a PII saving.

Find a Law Firm approved by Reliance Bank

Banks and building societies frequently change their requirements. The UK Finance Lenders’ Handbook requirements from Reliance Bank are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes


Since 2008, Reliance Bank has made 85 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 32.1 days. In total, 46% of the sections of P2 of the UK Finance Lenders’ Handbook for Reliance Bank have been changed since 15/12/2008.

To find out more about lender panel compliance,

Reliance Bank Conveyancing Panel : Questions and Answers from members of the public

My husband and I are purchasing a 1 bedroom flat in Hackney with a mortgage from Reliance Bank. We like our lawyer but Reliance Bank says he's not on their "panel". We have to appoint one of the Reliance Bank panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Reliance Bank use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Reliance Bank conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Reliance Bank
My conveyancer has spotted an inconsistency between the surveyor’s assumptions in Reliance Bank’s home valuation survey and what is in the title deeds. My solicitor says that as he is on the Reliance Bank conveyancing panel he is obliged to ensure that the bank is OK with this discrepancy and is content go ahead. Is my solicitor’s approach right?
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 both parties.
I am planning to acquire a house and require a conveyancing solicitor in Leeds who is on the Reliance Bank solicitor. Could you point me in the right direction as regards a firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Reliance Bank . We don’t recommend any particular firm.
My conveyancers in Birmingham have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with Reliance Bank. Is it case that being on the Reliance Bank conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Reliance Bank Conveyancing Panel Terms. It might be worth you contacting Reliance Bank directly.
When it comes to lenders such as Reliance Bank do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
My existing mortgage is with Reliance Bank. My uncle has just retired and wants to pay off the mortgage left on the property. After Reliance Bank is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Reliance Bank conveyancing panel? I do not intend to live at the property once the Reliance Bank mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the Reliance Bank panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. There's no capital gains tax for you as it is your main residence.
I have a mortgage with Reliance Bank. Conveyancing has been completed 12 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?
Your original mortgage agreement with Reliance Bank will provide that you need their approval prior to renting 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.

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