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Reliance Bank Conveyancing Panel Example Support Desk Enquires
My mortgage broker has says he needs my law firm’s panel reference for the Reliance Bank conveyancing panel. What is the best way to obtain this. I have e-mailed my local Reliance Bank branch but they have not responded to me.
You are best placed to get this information from your conveyancing lawyer. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Reliance Bank.
My fiance and I intend to remortgage our flat with Reliance Bank. We have a son 19 who lives with us. The solicitor on the Reliance Bank conveyancing panel has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this form unique to the Reliance Bank conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Reliance Bank .This is solely used to protect the Reliance Bank if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Reliance Bank had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Reliance Bank solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
The lawyers that I recently instructed on my house acquisition in London has suddenly closed. I chose them because I needed a firm on the Reliance Bank conveyancing panel and my preferred lawyer was not. I gave them a cheque for £150 in advance. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would 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 Reliance 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 may be able to help
My brother and I have had an offer accepted on a flat I spoke to a solicitor recommended by my mum and he advised instructing a solicitor approved by Reliance Bank. The estate agent recommended two local firms so I asked Reliance Bank if the 2 suggested solicitors are approved, which they are not. Reliance Bank pointed out that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Reliance Bank 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Reliance Bank to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Reliance Bank conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Reliance Bank conveyancing panel as it may only take about 2-3 weeks. As long as they meet Reliance Bank’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
Completion of my remortgage has taken place with a mortgage from Reliance Bank. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about Reliance Bank. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the Reliance Bank branches or the Customer Services Team at Reliance Bank head office. In most cases complaints to Reliance Bank are sorted out effectively and efficiently. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service who will take matters further.
I can not work out if my mortgage offer requires a lease extension . I have telephoned Reliance Bank on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Reliance Bank conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Reliance Bank panel she or he must comply with the CML Handbook requirements for Reliance Bank. Unless your lawyer obtains specific confirmation in writing that Reliance Bank will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Reliance Bank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
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