Reliance Bank Conveyancing Panel Information

The fact of the matter is that estate agents are suffering if their clients start out on the conveyancing process having appointed a solicitor who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change lawyers.

We only know of two or three lenders that operate a distinct conveyancing panel where the mortgage advance is over a certain threshold. You should nevertheless check directly with Reliance Bank. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Reliance Bank

Although not necessarily published, lenders have varying criteria . We do not hold specific requirements relating to the questions raised as part of the application to be on the Reliance Bank conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Full complaints history for each conveyancing solicitor

Whether the firm has ever knowingly accepted instructions on transactions involving Sale and Rent Back, Back to Back, Exchange and Delayed Completion and Lease Option, Below Market Value.

Whether the firm has ever accepted instructions in respect of property clubs and investment schemes

List of all those staff who work within the conveyancing team

House price discrepancies (declared to lender vs. registered at Land Registry)

Summary of annual accounts

List of fee-earners who are foreign qualified

Full career history for each solicitor including admission date to the relevant Law Society

Number of lender conveyancing panels the firm is currently on

Solicitor

For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Reliance Bank conveyancing panel to see if you are entitled to a reason.

In this situation please clarify on the form what action 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 cessation of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?

You should get in touch with Reliance Bank to obtain standard documents. The CML Handbook includes an explicit section for banks to reveal who to contact to obtain standard documents. Reliance Bank in their Part 2’s state: Please remember to quote the firm’s Reliance Bank conveyancing panel reference.