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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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DB UK Bank Conveyancing Panel : Questions and Answers
I am selling my flat and the EA has just called to advise that the purchasers are changing their property lawyer. The reason given is that DB UK Bank will only deal with property lawyers on their conveyancing panel. Why would a big named mortgage company only deal with certain solicitors?
Banks have always had panels of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
I do hope you can help me. My lawyer is informing me me that he has to apply for a Local Authority search stemming from the fact that the firm are on the DB UK Bank approved lawyer panel. The searches cost a lot of money. Can this be avoided?
You have limited options available to you. Given that you are taking out a loan with DB UK Bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of DB UK Bank’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated DB UK Bank. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I am looking for conveyancing quotes online. Can I be confident that all the firms that are listed on your website are on the DB UK Bank conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have advised us that they are on the DB UK Bank panel and agreed to advise us to take down their listing in the event of removal off of the DB UK Bank panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the DB UK Bank conveyancing panel is incorrect.
I am trying to get my former partner taken off the mortgage deeds. Can DB UK Bank really tell me which solicitor I can or can not instruct?
You can use any solicitor you like but DB UK Bank then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the DB UK Bank solicitors panel
I had instructed online conveyancers located in Manchester who are on the DB UK Bank solicitor panel. They have just invoiced me a separate fee of £135 for dealing with the DB UK Bank mortgage. Is this a supplemental conveyancing fee specified by DB UK Bank?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by DB UK Bank but by your lawyers. Some firms on the DB UK Bank will charge an ‘acting for lender’ fee and others do not.
The for formalities of my purchase has taken place with a mortgage from DB UK Bank. Conveyancing was a necessary evil but I would like to complain about DB UK Bank. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the DB UK Bank branches or the Customer Services Team at DB UK Bank head office. In most cases complaints to DB UK Bank are resolved very quickly. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
My offer was accepted on an apartment on the 17th February 2014, valuation was booked five days later, all came back fine. Conveyancer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to DB UK Bank and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the DB UK Bank conveyancing panel. Can the lender hold off the offer?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for DB UK Bank to deal with your lawyers application to be on the DB UK Bank conveyancing panel. There's no guarantee that your solicitors will be accepted.
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Transfer of Equity for DB UK BankPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors