FAQs for the Lloyds TSB Scotland Conveyancing Panel
from members of the public
On what basis could a firm of solicitors be removed from the Lloyds TSB Scotland solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Lloyds TSB Scotland
My nephew is about to exchange on a new build apartment with a home loan from Lloyds TSB Scotland. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds TSB Scotland conveyancing panel as a standard part of the process, and to the surveyor when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Lloyds TSB Scotland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I see that you have a search directory identifying firms on the Lloyds TSB Scotland conveyancing panel. Do firms pay you a referral fee if I retain them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds TSB Scotland conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am buying a new build flat and getting a mortgage with Lloyds TSB Scotland. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Lloyds TSB Scotland conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Lloyds TSB Scotland conveyancing panel in your location.
My wife and I have arranged a further advance on our mortgage from Lloyds TSB Scotland as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Lloyds TSB Scotland conveyancing panel to deal with the legals?
Lloyds TSB Scotland would not normally appoint firms on their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Lloyds TSB Scotland list
We have a mortgage agreed in principle with Lloyds TSB Scotland. Solicitors have been chosen? How long does it take for Lloyds TSB Scotland to send the offer to our conveyancer
Some lenders take longer than others. Have Lloyds TSB Scotland done the valuation? Have you advised Lloyds TSB Scotland as your lawyers details and checked that your lawyer is on the Lloyds TSB Scotland conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
I have had an offer accepted on a house I spoke to a solicitor previously used by my mum and he suggested retaining a law firm approved by Lloyds TSB Scotland. The estate agent recommended two local firms so I asked Lloyds TSB Scotland if the 2 suggested solicitors are approved, which they are not. Lloyds TSB Scotland suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Lloyds TSB Scotland 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Lloyds TSB Scotland for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Lloyds TSB Scotland 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 Lloyds TSB Scotland conveyancing panel as it may only take about 2-3 weeks. As long as they meet Lloyds TSB Scotland’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.