Teachers Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers. It is a unique risk mitigation tool.

This system is the only way you can prove to lender panels that you are, and can stay fully compliant with their instructions, with notifications given on Teachers Building Society’s changes. Notwithstanding that using the software is not a prerequisite for Teachers Building Society , demonstrating you can stay up to date with Teachers Building Society’s Handbook requirements is a helpful support to your panel application and, more importantly, protect your panel status.

COMPLETIONmonitor generates real-time alerts, automatically produces compliance and CQS reports, and will improve your firm's efficiency. It is also simply to use, cost-effective and, for some firms, leads to a PII saving.

Find a Law Firm approved by Teachers Building Society

Lenders often change their requirements. The BSA instructions from Teachers Building Society are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes


Since 2010, Teachers Building Society has made 10 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 273.0 days. In total, 8% of the sections of the BSA Requirements for Teachers Building Society have been changed since 26/1/2010.

To find out more about lender panel compliance,

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Common questions asked concerning the Teachers Building Society Conveyancing Panel from members of the public

My Conveyancer has never been on on the Teachers Building Society Approved Panel. Is it possible for me to use my family solicitor even though they are excluded from the Teachers Building Society list of approved lawyers?
You will need to have a conveyancer complete the legal work required when you take out a Teachers Building Society mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Teachers Building Society conveyancing panel additional costs will be incurred as separate legal representation will be required by Teachers Building Society. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
Our conveyancing solicitor has informed me that he requires identification documents stating that this is part of his legal duty as a solicitor on the Teachers Building Society Solicitor panel. Am I being spun a yarn?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Teachers Building Society your lawyer also has to check ID documents to satisfy Teachers Building Society
I am planning to acquire a property and require a conveyancing solicitor in Newcastle who is on the Teachers Building Society solicitor. Can you recommend a local firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Teachers Building Society . We don’t recommend any particular firm.
My solicitors in Liverpool have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with Teachers Building Society. Is it case that being on the Teachers Building Society conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Teachers Building Society Conveyancing Panel Terms. It might be worth you contacting Teachers Building Society directly.
How can we tell if a solicitor on the Teachers Building Society panel is any good?
seeking recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor conducting your conveyancing
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Teachers Building Society conveyancing panel requirements are different to Teachers Building Society’s conveyancing panel criteria.
We expect to receive a DIP from Teachers Building Society this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Teachers Building Society recommend a solicitor on the Teachers Building Society 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 Teachers Building Society conveyancing panel. The solicitor represents both you and the Teachers Building Society through the process.