DS3 - conflict of interest ???

terall

We have a buy-to-let mortgage with NatWest on the property The property had a substantial garden with planning permission for a 4 bed house. We have since built a bungalow on the garden plot, with all agreed permissions from the Council and Building Control sign-offs have been obtained. My wife and I now live in the new bungalow.
I now need the Land Registry to agree to a sub-division of the land in order to amend the curtilage of the current Title and create a new separate Title for the area of land occupied by the new bungalow.
I have paid the Bank £300, and the solicitor £200, to secure a DS3 from the Bank for them to release their charge over the area of land occupied by the bungalow. The DS3 has been secured and is in the possession of the solicitor.
The Land Registry have advised me that in order to put the Title changes into effect I will need to fill in an AP1 and accompany this with a Plan showing the changes required,, a reason for the request, and the DS3 from the Bank. The Land Registry will charge me £40 to process the transaction.
The Issue:- The Bank will not allow the Solicitor to release the DS3 to me so that I can include it with the application form AP1 and pay a total of £40 to secure the Title changes.
Instead, the Bank insist that the solicitor makes the AP1 application, as giving me the DS3 "may create a conflict of interest". The solicitor is going to charge almost £600 for making the application on my behalf.
I fail to see why (having already paid £500 to acquire the consenting DS3) and the Bank being well aware of my intentions, they will not let me have the DS3.
Does anyone know what the potential conflict of interest may be as it is going to cost me a further £600 just to avoid it.

Thrugelmir

Presumably once in possession of the forms. You could submit any plan you wanted to to the LR. The lender will want the solicitor to protect it's own interests in terms of the security for the debt owed.

davidmcn

I suspect the potential conflict is that you might meddle with the form between the bank signing it and before it gets registered. Though I'd be more interested in why your solicitor is quoting a £600 fee.

terall

Thanks Thrugelmir .....The Banks security on the outstanding loan is covered by the valuation conducted for the DS3 which revalued the property minus the land release requested. This valuation gave us a Loan-To-Value ratio of 50% so there is no way the Bank could lose out.

terall

Thanks Davidmcn.....The solicitors guesstimate is based on £200 + Vat per hour, plus the Land Registry fee of £40.

terall

As regards me fiddling around with the plans before registration.....I would have assumed that the DS3 would make specific reference to the original plans used for their release consideration. If they included a certified copy of the original plans this would clearly identify any changes/discrepancies at a later stage and nullify the application.