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approved by DB UK Bank
Ready to buy a new home? Failing to check that a lawyer is on the DB UK Bank list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the DB UK Bank Ltd Conveyancing Panel? How can my firm be reinstated onto the DB UK Bank Ltd Conveyancing Panel?Find an Approved Solicitor on the DB UK Bank Ltd Conveyancing Panel
Examples of recent questions relating to the DB UK Bank Conveyancing Panel
My wife and I are FTBs. Within the last couple of days our conveyancer has forwarded the sale agreement to sign with a detailed report in anticipation of exchanging contracts shortly. DB UK Bank have this evening contacted us to advise us that they have now hit a problem as our solicitor is not on their conveyancing panel. Is this a problem?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitors should contact DB UK Bank and see if they can apply for membership of the DB UK Bank conveyancing panel, but if that is not viable DB UK Bank will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the DB UK Bank conveyancing panel as you are at liberty to use your preferred lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Much to my surprise my property lawyer has informed me that he requires ID documents saying that this is part of his retainer as a conveyancer on the DB UK Bank Conveyancing panel. Can you confirm whether this is the case?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that DB UK Bank also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with DB UK Bank CML Handbook requirements last updated on DB UK Bank
Are there any apps to help search for a local solicitor on the DB UK Bank conveyancing panel? I have a car and am prepared to travel up to 20 miles to meet the conveyancer.
You can use the find a conveyancing panel search on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the DB UK Bank solicitor panel.
The solicitors that I recently instructed on my purchase in Hendon has without warning closed. They were on acting for me because I needed a firm on the DB UK Bank conveyancing panel and my previous lawyer was not. I gave my credit card details for them to take £175 for searches. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. 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 DB UK 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 lawyers should be in a position to assist
I have a mortgage with DB UK Bank. Conveyancing has been completed some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform DB UK Bank?
Your original mortgage agreement with DB UK Bank will provide that you need their approval prior to letting out your property as this is likely to be a breach of DB UK Bank’s mortgage conditions. It may be that DB UK Bank will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact DB UK Bank directly. You need not do this via a DB UK Bank conveyancing panel solicitor.
Intending to buy a house with a mortgage with DB UK Bank. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the DB UK Bank conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the DB UK Bank conveyancing panel
DB UK Bank have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up DB UK Bank or your broker and complete any relevant paperwork. DB UK Bank will tell you what documents they want. DB UK Bank will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. DB UK Bank will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
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