DB UK Bank Conveyancing Panel Information

DB UK Bank’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements

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 DB UK Bank conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Full complaints history for each licensed conveyancer

Summary of annual accounts

List of fee-earners who are foreign qualified

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

top-up split and history of any refusals

List of all those who can sign off the Certificate Of Title

Whether the firm has ever applied for accreditation and the outcome of the application

Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers

Full complaints history for each conveyancing solicitor

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

During 2013, 74 sections of the UK Finance Lenders’ Handbook P2 were changed by DB UK Bank. Some changes are more important than others but as a firm on the DB UK Bank conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

On the basis that your practice in is on the DB UK Bank conveyancing panel and you are representing them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If DB UK Bank are to lend, they may require indemnity insurance. In any event,you will need to check DB UK Bank’s specific requirements. Notwithstanding whether DB UK Bank will lend in such circumstances you still need to advise the borrower (unless you are acting for DB UK Bank alone) as to the risks of buying a property with an insolvent or absentee freeholder.

The best placed professionals to answer this question are your insurance brokers. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for DB UK Bank solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You would be advised to contact DB UK Bank to obtain standard documents. The CML Handbook includes an individual question for banks to cite who to contact to obtain standard documents. DB UK Bank in their Part 2’s state: Always remember to disclose your DB UK Bank solicitors panel reference.