Reliance Bank Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Reliance Bank and to assist in remaining on the Reliance Bank Conveyancing Panel.

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Reliance Bank Solicitor Panel: Recently Asked Questions

Is there a standard appeals process to prevent solicitors from being unfairly removed them from lender conveyancing panels?

We have come across many solicitors who feel they have been removed from lenders’ panels without an explanation or a good reason. It is highly unlikely, given that lenders have distanced themselves from creating a standardised appeals process for brokers, that an appeals process will be introduced for lawyers. Commenting on the call by brokers to have a standardised process the CML said’ “While we understand that some lenders do have an appeals process, it would not be appropriate for a trade body such as the CML to seek to be prescriptive about such a process.” Some lenders do of course set out an appeals policy. The Law Society does have information on it’s site that may be of assistance. If you would like to talk to one of our compliance experts about our Lender Panel Protection Service please contact us.

Am I obliged, being on the Reliance Bank conveyancing panel, to carry out a LMO4 search?

Reliance Bank make no specific obligation to carry out any of the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must ensure that any other searches which may be appropriate to the particular property, taking into account its locality and other features are carried out’.

Please note that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Reliance Bank are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the client.

Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Is this covered within your Terms of Engagement or Report on Title?

One search supplier lists over 72 conveyancing searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location contact your search provider or call one of the leading search companies such as Searchflow.

A recent SRA survey reveals that 76% of solicitors have been removed from a lender conveyancing panel. Reliance Bank and other lenders have restricted their panel over the years. Why?

In operating open conveyancing panels, lenders such as Reliance Bank face a number of fraud and negligence risks. While there is no authoritative source of data on lender exposure to solicitor–led mortgage fraud, anecdotal evidence from lenders indicates exposure on individual cases are often in the millions of pounds. The National Fraud Authority estimates that £1bn per year is lost in mortgage -related frauds in total, which is seen as a conservative estimate.

These risks are exacerbated by the lack of a comprehensive set of data on all conveyancing firms (which, for the avoidance of doubt, would include solicitors and conveyancers across the UK) which is in a readily accessible format. Currently, lenders vet the suitability of their panel firms against a variety of disparate, incomplete and potentially inaccurate sets of information. One top 5 lender pointed out to us that it is almost impossible to track individual fraudsters who move from firm to firm, especially where they are no longer registered or no longer hold a valid practicing certificate.

Reliance Bank and other lenders are in varying stages of reviewing their approach to vetting firms on their conveyancing panels, to ensure their ongoing exposure to unsuitable firms is reduced. There is also regulatory impetus on lenders to ensure that they have satisfactory oversight of their third party panels, including a due-diligence process.

In conducting leasehold due diligence do Reliance Bank panel solicitors need to consider if there is an insolvent landlord?

Assuming that your practice in is on the Reliance Bank conveyancing panel and you are acting for them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Reliance Bank are to lend, they may require indemnity insurance. In any event,you will need to check Reliance Bank’s specific requirements. Notwithstanding whether Reliance Bank will lend in such circumstances you still need to advise the borrower (unless you are acting for Reliance Bank alone) as to the risks of buying a property with an insolvent or absentee landlord.

Do publish figures exists disclosing the Reliance Bank conveyancing panel size and the number of conveyancing firms removed from their panel each quarter?

With banks and property lawyers working so closely together it is surprising that there has not been much call for the introduction of a bit of transparency regarding not just the figures for the Reliance Bank conveyancing panel but for all bank panel listings

We had our Reliance Bank panel membership suspended but we have not yet been given a reason as to why. I am completing a CQS application questionnaire what information must I disclose?

In the circumstances please explain on the form what steps you have taken to find out the reasons behind cancellation of your Reliance Bank panel membership. In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender putting you on notice?

My firm is listed on the Reliance Bank conveyancing panel and scheduled to complete a remortgage shortly. My papers do not include a Legal Charge for the client to sign. Who do I contact at Reliance Bank to get a duplicate Deed?

You would be advised to get in touch with Reliance Bank to obtain standard documents. The The Council of Mortgage Lenders Handbook has an explicit question for banks to set out who to contact to obtain standard documents. Reliance Bank in their Part 2’s state:

It is likely that you will need to quote the firm’s Reliance Bank conveyancing panel reference.

Find a Lawyer on the Reliance Bank Conveyancing Panel

Average number of days to register title including a charge in favour of Reliance Bank

This information relates to purchase only and not remortgages.

Year	Days*
2025	[no data]
2024	[no data]
2023	[no data]
2022	[no data]
2021	[no data]
2020	[no data]

* Data aggregated from sources including COMPLETIONmonitor

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