Teachers Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. It is a unique risk management tool.

This system optimises the way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with automatic updates on Teachers Building Society’s changes. Notwithstanding that using the software is not a condition for acceptance on the Teachers Building Society panel, demonstrating you can remain up to date with Teachers Building Society’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, safeguard your firm’s panel standing.

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

Find a Law Firm approved by Teachers Building Society

Banks and building societies frequently 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.

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

I instructed a solicitor to conveyancing on my house purchase 4 weeks ago having applied for a mortgage with Teachers Building Society. The law firm reassured me that they are on Teachers Building Society conveyancing panel and gave me their panel reference. Teachers Building Society then told me that their panel number was dormant and would need to be reactivated. What happens next? Do I instruct a different law firm currently on the conveyancing panel for Teachers Building Society?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the Teachers Building Society as to the time frame to get your lawyer reinstated on the panel once again.
My fiance and I changing mortgage lender for our flat with Teachers Building Society. We have a son approaching twenty who lives with us. The solicitor on the Teachers Building Society conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Teachers Building Society conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Teachers Building Society .This is solely used to protect the Teachers Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.

It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Teachers Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.

I am purchasing a property and require a conveyancing solicitor in Leeds who is on the Teachers Building Society conveyancing. Could you point me in the right direction as regards a 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.
I was expecting to complete on my dream home last Friday. My lawyer’s firm is on the Teachers Building Society solicitors panel but has changed address in the past couple of months and had not advised Teachers Building Society of their new address. Teachers Building Society has locked down the release of mortgage funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. The majority of 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 Teachers Building Society branch or your mortgage broker to see if they can help.
Can you point me to a directory of Teachers Building Society panel solicitors on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
I can not work out if my mortgage offer requires a lease extension . I have called into my local branch Teachers Building Society on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Teachers Building Society 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 Teachers Building Society. Unless your lawyer obtains specific confirmation in writing that Teachers Building Society 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 Teachers Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
Teachers Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Teachers Building Society or your broker and complete any relevant paperwork. Teachers Building Society will tell you what documents they want. Teachers Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Teachers Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.