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. It is a unique risk management tool.

This software assists the way you can demonstrate 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 this technology is not a condition for acceptance on the Teachers Building Society panel, 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 firm’s panel standing.

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

Find a Law Firm approved by Teachers Building Society

Banks and building societies often vary 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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Teachers Building Society Conveyancing Panel Sample Enquires to our Call Center from members of the public

I am hoping to receive a mortgage with Teachers Building Society. my intention is to instruct a Licensed Conveyancer. Does the Teachers Building Society Solicitor panel include Licensed Conveyancers
Teachers Building Society’s approved solicitor list is, like many other lenders represented by the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
Expecting to complete my purchase next Friday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for Teachers Building Society. What risks do Teachers Building Society expect the insurance to cover?
All property lawyers on the Teachers Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Teachers Building Society’s Part 2 requirements of the CML Handbook (last updated on Teachers Building Society). Being on the Teachers Building Society conveyancing panel your lawyer is expect to follow these requirements.
How do I search for a local solicitor on the Teachers Building Society conveyancing panel? I have a car and am prepared to travel up to 25 miles to meet the conveyancer.
You can use the find a conveyancing panel search on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Teachers Building Society solicitor panel.
I would like to get my ex-husband taken off the mortgage deeds. Can Teachers Building Society really insist on which solicitor I can or can not use?
You can use any solicitor you like but Teachers Building Society then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Teachers Building Society solicitors panel
I previously instructed online conveyancers based in Manchester who are on the Teachers Building Society solicitor panel. They have just invoiced me a separate fee of £195 for dealing with the Teachers Building Society mortgage. Is this an additional conveyancing fee specified by Teachers Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Teachers Building Society but by your lawyers. Some firms on the Teachers Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
I have today made my last payment due on mortgage with Teachers Building Society. I assume I don't need a solicitor on the Teachers Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Teachers Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Teachers Building Society mortgage from the register. Teachers Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage: but are not moving to another property where the Teachers Building Society has sent the Land Registry the discharge electronically, and the Teachers Building Society has instructed the Land Registry to do so The Land Registry will send you a letter confirming that your Teachers Building Society mortgage has been paid off.
Me and my partner are remortgaging a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon are preferred to beappointed. My agentadvised that we enquire that the solicitor in Hendon is on the Teachers Building Society approved list of lawyers. Is this really necessary?
Far from all Hendon conveyancing firms are on the Teachers Building Society conveyancing panel. 5 people a month use our search tool to search for a Hendon conveyancing firm on the on the Teachers Building Society approved list of lawyers.