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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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DB UK Bank Solicitor Panel Recently Asked Questions
My wife and I are novices when it comes to buying a property. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. DB UK Bank have this morning contacted us to inform me that they have now hit a problem as our solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit 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 property lawyers 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 don't have to instruct a 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 will likely delay the transaction as you are adding another lawyer into the mix.
Please assist. My lawyer is not to blame but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from DB UK Bank was dated random date and we have agreed a date for me to move into the property on 6. My solicitor informs me that as she is on the DB UK Bank conveyancing panel she needs to redo the searches as they are now out of date.
One of the many conditions to being on the DB UK Bank approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on DB UK Bank)which states that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to DB UK Bank.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I understood that this was a condition of being on the DB UK Bank conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I was due to move into my flat last Friday. My lawyer’s firm is on the DB UK Bank solicitors panel but has moved offices 8 weeks ago and had not advised DB UK Bank of their new address. DB UK Bank is now refusing to release my funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local DB UK Bank branch or your mortgage broker to see if they can assist.
We were going to get a DIP from DB UK Bank this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the DB UK Bank recommend a solicitor on the DB UK Bank conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the DB UK Bank conveyancing panel. The solicitor represents both you and the DB UK Bank through the process.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have telephoned DB UK Bank on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the DB UK Bank conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for DB UK Bank. Unless your lawyer obtains specific confirmation in writing that DB UK 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 DB UK Bank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
My ex -wife’s name is on the DB UK Bank mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the DB UK Bank mortgage in order to sell?
As regards the DB UK Bank mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of DB UK Bank in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.