Q and A’s regarding the Reliance Bank Conveyancing Panel from members of the public
Much to my surprise I have been told by my financial adviser that my property lawyer is not on the Reliance Bank Conveyancing panel. What can I do to check?
The best course of action for you to take is to contact your conveyancer. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for Reliance Bank.
I am due to complete my purchase next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in has capacity as lawyer for Reliance Bank. What does the insurance need to cover?
Any lawyer on the Reliance Bank conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Reliance Bank’s Part 2 requirements of the CML Handbook (last updated on Reliance Bank). Being on the Reliance Bank conveyancing panel your lawyer is expect to follow these instructions.
How up to date is your database of lawyers on the Reliance Bank conveyancing panel? Do Reliance Bank send you an updated list?
The firms 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.
My conveyancers in London have advised me that they can not locate my conveyancing file. To assist with 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?
It very much depends from lender to lender 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.
We were going to get a DIP from Reliance Bank this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Reliance Bank recommend a solicitor on the Reliance Bank conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Reliance Bank conveyancing panel. The solicitor represents both you and the Reliance Bank through the process.
After much negotiation I have agreed a price on an apartment. My financial adviser suggested a solicitor I paid an upfront payment of 150. Soon after the conveyancers contacted me to say that they were not on the Reliance Bank conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Reliance Bank panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My ex -wife’s name is on the Reliance Bank mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Reliance Bank mortgage in order to sell?
As regards the Reliance Bank mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Reliance Bank in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.