Tesco Bank Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk management tool.

This software is the only way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with notifications given on Tesco Bank’s changes. Even though utilising the software is not a prerequisite for Tesco Bank , demonstrating you can remain up to date with Tesco Bank’s Handbook requirements is a helpful support to your application to their lender panel and, just as importantly, safeguard your firm’s panel standing.

The software creates real-time alerts, automatically produces regulatory and CQS reports, and will increase your firm's efficiency. It is also simply to use, cost-effective and, for some firms, leads to reduced PII premiums.

Find a Law Firm approved by Tesco Bank

Banks and building societies often vary their requirements. The UK Finance Lenders’ Handbook requirements from Tesco Bank are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes

Since 2008, Tesco Bank has made 219 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 12.5 days. In total, 26% of the sections of P2 of the UK Finance Lenders’ Handbook for Tesco Bank have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
5.14.1 12/10/2017 CML
5.14.9 12/10/2017 CML
6.7.1 12/10/2017 CML
14.2.2 12/06/2017 CML
1.11b 01/02/2016 CML
16.1.1 01/02/2016 CML
16.3.7a 01/02/2016 CML
16.5.3b 01/02/2016 CML
3.2.4 26/11/2015 CML
10.9 16/06/2015 CML

Last update 19/01/2020

Common questions asked concerning the Tesco Bank Conveyancing Panel from members of the public

My IFA has says he needs my solicitor’s panel reference for the Tesco Bank conveyancing panel. What is the best way to obtain this. I have called my local Tesco Bank office but they have not got back to me yet.
You are best placed to get this information from your conveyancing lawyer. They should have a central record lender panel numbers including the Tesco Bank panel reference.
My conveyancer has uncovered an inconsistency when comparing the information in Tesco Bank’s home valuation survey and what is in the legal papers for the property. My solicitor informs me that as he is on the Tesco Bank conveyancing panel he needs to ensure that the bank is happy with this discrepancy and is content go ahead. Is my lawyer’s stance right?
A precondition to being on the Tesco Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Tesco Bank) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Are there any apps to help find a local solicitor on the Tesco Bank conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the conveyancer.
Feel free to make use of 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 Tesco Bank solicitor panel.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Tesco Bank conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Tesco Bank conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Tesco Bank have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Tesco Bank your lawyer must to check the Tesco Bank conveyancing instructions contained in the Part of CML Handbook for Tesco Bank . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Tesco Bank where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
We expect to receive a DIP from Tesco Bank this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Tesco Bank recommend a solicitor on the Tesco Bank 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 Tesco Bank conveyancing panel. The solicitor represents both you and the Tesco Bank through the process.
I can not work out if my mortgage offer requires a lease extension . I have called into my local branch Tesco Bank on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Tesco Bank 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
As long as the conveyancer is on the Tesco Bank panel she or he must comply with the CML Handbook requirements for Tesco Bank. Unless your lawyer obtains specific confirmation in writing that Tesco Bank 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 Tesco Bank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.