Reliance Bank Conveyancing Panel Information

Section 16.2.1 of Part 1 of the Handbook relevant to a solicitor on the Reliance Bank conveyancing panel reads ‘Our mortgage secures further advances. Consequently, when a further advance is required for alterations or improvements to the property we will not normally instruct a member of our conveyancing panel but if you are instructed the appropriate provisions of this Handbook will apply’.

Each lender has different 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 career history for each solicitor including admission date to the relevant Law Society

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

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

Summary of annual accounts

Number of lender conveyancing panels the firm is currently on

List of fee-earners who are foreign qualified

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.

conveyancer client account(s) details

List of all those staff who work within the conveyancing team

One might ordinarily expect Reliance Bank via their Part Two requirements to address this but the Handbook is silent on deadlines to send deeds. You need to look at the Terms of Reliance Bank’s Conveyancing Panel Appointment that you are bound by. For many lender's these Terms have a clause along the following lines: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is important to keep Reliance Bank updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

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 the circumstances please explain on the form what action you have taken to discover the reasons behind cancellation of your Reliance Bank panel status. In particular please provide details if you have received communications from the lender. E.G. before revocation 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 has an explicit inquiry for lenders to reveal who to contact to obtain standard documents. Reliance Bank in their Part 2’s state: It helps to disclose the firm’s Reliance Bank solicitors panel reference.