Tesco Bank Conveyancing Lender Panel Compliance Tool

Lexsure’s 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 management tool.

This system is the only way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with notifications given on Tesco Bank’s changes. Notwithstanding that using the software is not a condition for being on the Tesco Bank panel, 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 status.

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

Find a Law Firm approved by Tesco Bank

Lenders often change 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, frequently:

A Timeline of Policy Changes

Since 2008, Tesco Bank has made 215 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 12.7 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
5.19.1 20/07/2018 CML
14.2.1 01/02/2016 CML
16.3.2 01/02/2016 CML
16.3.4 01/02/2016 CML
16.3.7a 01/02/2016 CML
16.5.3c 01/02/2016 CML
16.5.3d 01/02/2016 CML
1.11b 26/11/2015 CML
4.5b 16/06/2015 CML
16.4.1 27/05/2015 CML

Last update 09/01/2019

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

The lawyer I wanted to use for conveyancing on a purchase said she will levy higher legal fees if my lender is because of their difficult processes! Will I regret using Tesco Bank? Is Tesco Bank conveyancing so much more difficult?
Tesco Bank conveyancing requirements for their panel are no better or no more complicated than most lenders. It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender. It is not clear if your lawyer is on the Tesco Bank conveyancing panel. If they are not, this does add further risk of delay as Tesco Bank will appoint their own solicitors to look after their interest.
Please help. My conveyancer is advising me that she is duty-bound to order a Local Authority search because the firm are on the Tesco Bank solicitor panel. Is this really necessary?
You have limited options available to you. Given that you are taking out a loan with Tesco Bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Tesco Bank’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Tesco Bank. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Whilst your website is a good idea there are many lawyers listed near Chelsea on the Tesco Bank conveyancing panel. Can you recommend a specific firm on the conveyancing panel for Tesco Bank ?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I am thinking of mortgaging my apartment does my lawyer have to be on the Tesco Bank Solicitor panel?
In theory, you could use a solicitor that is not on Tesco Bank conveyancing panel, but Tesco Bank would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
My husband and I are in the process of looking at apartments 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
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Tesco Bank , make sure you remember to check that your lawyer is on the Tesco Bank conveyancing panel.
The for formalities of my purchase has taken place with a loan from Tesco Bank. Conveyancing was satisfactory but I feel I should register my dissatisfaction about Tesco Bank. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the Tesco Bank branches or the Customer Services Department at Tesco Bank head office. In most cases complaints to Tesco Bank are resolved effectively and efficiently. If you feel that the matter is not resolved you can write to the Financial Ombudsman Service with full details of your complaint.
My ex -wife’s name is on the Tesco Bank mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Tesco Bank mortgage in order to sell?
As regards the Tesco Bank mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Tesco Bank in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.