DB UK Bank Conveyancing Panel Information

As is the case with the Law Society the CLC has begun dialogue with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. It is likely that that the CLC have been in touch with lenders such as DB UK Bank in the recent past.

When a solicitor is acting for both DB UK Bank and borrower there is potential for conflicts to arise. You owe duties to both clients. All information received by you from your client is confidential and cannot be disclosed without the client’s consent. In the situation you find yourself in if the purchaser will not consent to the information being passed on to the lender the solicitor must cease to act for the DB UK Bank and it may well be prudent you to cease to act for the purchaser as well. You can not tell the DB UK Bank the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your DB UK Bank conveyancing panel status.

You have a number of obligations in this regard which you need to follow if you wish to comply with your lender client’s instructions as set out in the UK Finance Lenders’ Handbook. (a) You must take reasonable steps to verify that there are no discrepancies between the description of the property as valued and the title and other documents which a reasonably competent conveyancer should obtain, and, if there are, you must tell DB UK Bank immediately. (b) You should take reasonable steps to verify that the assumptions stated by the valuer about the title (for example, its tenure, easements, boundaries and restrictions on its use) in the valuation and as stated in DB UK Bank’s mortgage offer are correct. If they are not, please let DB UK Bank know as soon as possible as it will be necessary for DB UK Bank to check with the valuer whether the valuation needs to be revised. DB UK Bank conveyancing panel solicitors are not expected to assume the role of valuer. DB UK Bank are simply trying to ensure that the valuer has valued the property based on correct information. (c) DB UK Bank recommend that you should advise the borrower that there may be defects in the property which are not revealed by the inspection carried out by their valuer and there may be omissions or inaccuracies in the report which do not matter to them as a lender but which would matter to the borrower. DB UK Bank recommend that, if we send a copy of a valuation report that DB UK Bank have obtained, you should also advise the borrower that the borrower should not rely on the report in deciding whether to proceed with the purchase and that he obtains his own more detailed report on the condition and value of the property, based on a fuller inspection such as a homebuyers survey or comprehensive survey. If you do not receive a copy of the valuation you can always ask for a copy of one from DB UK Bank or the borrower. You still need to comply with the UK Finance Lenders’ Handbook Requirement relating to valuation reports even if you don't receive one directly. Failure to comply not only runs the risk of facing a claim by the lender but also being removed from the DB UK Bank conveyancing panel

The best placed professionals to answer this question are your insurance brokers. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for DB UK Bank solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You need to get in touch with DB UK Bank to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates a specific question for lenders to establish who to contact to obtain standard documents. DB UK Bank in their Part 2’s state: It is likely that you will need to disclose the firm’s DB UK Bank solicitors panel reference.