Reliance Bank Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers such as AmTrust. It is a unique risk mitigation tool.

This software assists the way you can prove to lender panels that you are, and can stay fully compliant with their instructions, with alerts on Reliance Bank’s changes. Notwithstanding that utilising the tool is not a condition for being on the Reliance Bank panel, 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 generates real-time alerts, automatically produces compliance and CQS reports, and will improve your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by Reliance Bank

Lenders often 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,

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Reliance Bank Solicitor Panel Sample Enquires to our Call Center from members of the public

We are hoping to buy a 1 bedroom apartment in London with a mortgage from Reliance Bank. We would like to retain our lawyer but Reliance Bank says she’s not on their "panel". It seems we have little choice but to instruct one of the Reliance Bank panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Reliance Bank use our lawyer?
No, not really. 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
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Reliance Bank will not agree to this. Why was Reliance Bank even consulted?
Your lawyer being on the Reliance Bank conveyancing panel is duty bound to inform Reliance Bank of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Reliance Bank then they would have to discontinue acting for you and Reliance Bank.
I note that you have a post code search directory identifying solicitors on the Reliance Bank conveyancing panel. Do firms pay you a commission if I instruct them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Reliance Bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
The lawyers that I appointed last week on my purchase in Hendon has suddenly shut down. I only went with them because I had to have a firm on the Reliance Bank conveyancing panel and my preferred lawyer was not. I paid them £200 on account. What do I do now?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Reliance Bank conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help
Are all conveyancing solicitors on the Reliance Bank conveyancing panel overseen by the SRA?
As solicitors, in order to be on the Reliance Bank conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I am selling my flat. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Reliance Bank are being problematic. The solicitor who is on the Reliance Bank conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Reliance Bank are insisting on a building regulation certificate. Why do Reliance Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Reliance Bank have referred the matter to their valuer. The reason why Reliance Bank may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
Me and my partner are remortgaging a house in Hendon. Conveyancing solicitors in Hendon will soon beappointed. My brother-in-lawrecommended that we make sure that the conveyancer in Hendon is on the Reliance Bank list of approved conveyancing firms. Surely I don't need to do this, do I?
Far from all Hendon conveyancing practices are on the Reliance Bank conveyancing panel. 8 people a month use our search tool to locate a Hendon conveyancing solicitor on the on the Reliance Bank list of approved conveyancing firms.