Tesco Bank 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 professional indemnity insures. COMPLETIONmonitor is a unique risk management tool.

This system optimises the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with notifications given on Tesco Bank’s changes. Notwithstanding that using the tool is not a prerequisite for Tesco Bank , demonstrating you can stay up to date with Tesco Bank’s Handbook requirements is an excellent support to your panel application and, just as importantly, safeguard your panel standing.

The software generates real-time alerts, automatically produces SRA and CQS reports, and will improve your firm's efficiency. In addition it is user friendly, cost-effective and, for many firms, leads to a PII saving.

Find a Law Firm approved by Tesco Bank

Banks and building societies frequently 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.

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FAQs : The Tesco Bank Solicitor Panel from members of the public

I have just been informed by my estate agent that my lawyer is not on the Tesco Bank Solicitor panel. What can I do to be certain that this is indeed the case?
You need to contact your conveyancer. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they may recommend you to a firm that is on the the approved Tesco Bank solicitor panel.
My solicitor has informed me that he requires identification documents saying that this forms part of his retainer as a solicitor on the Tesco Bank Solicitor panel. Can this be correct?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that Tesco Bank also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Tesco Bank CML Handbook requirements last updated on Tesco Bank
I require the services of a Tesco Bank panel solicitor in Inverness. Can you assist?
Unfortunately it’s not apparent why you need a Tesco Bank panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Tesco Bank to find out which solicitors in Tesco Bank are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
We're in Wales, First time buyers purchasing with a mortgage (lender is Tesco Bank , but our solicitor is on the Tesco Bank conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Tesco Bank conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
We have a mortgage agreed in principle with Tesco Bank. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Tesco Bank?
Some lenders take longer than others. Have Tesco Bank conducted the valuation? Have you advised Tesco Bank as your lawyers details and checked that your lawyer is on the Tesco Bank conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
What are the common reasons for a lender such as Tesco Bank to withdraw a mortgage offer?
Lenders such as Tesco Bank can withdraw their mortgage offer although this rarely happens. should Tesco Bank withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are a number of examples:
  • Tesco Bank may amend or withdraw an offer if the Tesco Bank conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
  • A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
  • Where to proceed with the Mortgage offer would be unlawful
  • Where the sale is not at arms length for value to unconnected persons
  • Where the Lender’s right to possession is fettered in some way
I'm in the throws of viewing houses and now considering a potential offer. Is it best to have a conveyancer on ‘stand by’? I will be getting a mortgage with Tesco Bank
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Tesco Bank , ask your prospective lawyers check they are on the Tesco Bank conveyancing panel otherwise they can't do the mortgage legal work.