Tesco Bank Conveyancing Lender Panel Compliance Tool

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

This system 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 using the tool 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 panel application and, just as importantly, safeguard your firm’s panel status.

The software generates real-time alerts, automatically produces compliance and CQS reports, and will improve your firm's efficiency. It is also simply to use, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by Tesco Bank

Lenders 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.

To find out more about lender panel compliance,

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Q and A’s regarding the Tesco Bank Solicitor Panel from members of the public

I am obtaining a offer of a mortgage from Tesco Bank. I intend to retain the legal services of a Licensed Conveyancer. Does the Tesco Bank Conveyancing panel exclude conveyancers regulated by the CLC
Tesco Bank’s conveyancing panel is, like many other lenders represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I am purchasing a new build flat and my solicitor is informing me that she is duty bound to disclose incentives from the seller as her firm is on the Tesco Bank conveyancing panel. I am under pressure to exchange and I have no desire to delay matters. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. 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). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Tesco Bank conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am buying a right to buy flat and getting a mortgage with Tesco Bank. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Tesco Bank conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Tesco Bank conveyancing panel in your location.
Can you point me to a directory of Tesco Bank panel solicitors on the Building Society Association’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.
What are the common reasons for a lender such as Tesco Bank to withdraw a mortgage offer?
Banks and Building Societies such as Tesco Bank can revoke their mortgage offer although this is unusual. should Tesco Bank withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are 5 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 the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
  • Following advice from the valuer on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
  • Where the sale is not at arms length for value to unconnected persons
My fiance and I are in the throws of looking at apartments and now considering a potential offer. Should I already have a conveyancer appointed at this stage? I I am planning to take a home loan with Tesco Bank
You should start obtaining conveyancing quotes from solicitors ASAP. 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 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.