Tesco Bank 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 professional indemnity insures. It is a unique risk mitigation tool.

This software facilitates the way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with automatic updates on Tesco Bank’s changes. Notwithstanding that using this technology is not a prerequisite for Tesco Bank , demonstrating you can remain up to date with Tesco Bank’s Handbook requirements is an excellent support to your application to their lender panel and, more importantly, protect your firm’s panel status.

COMPLETIONmonitor creates real-time alerts, automatically produces COLP and CQS reports, and will increase your firm's efficiency. It is also user friendly, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by Tesco Bank

Mortgage companies 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, frequently:

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,

Book a Personalised Demo

Recent Changes Include

# Date Assoc. Changes Related To
14.2.2 05/12/2017 CML
14.2.2 12/06/2017 CML
16.3.4 01/02/2016 CML
16.5.2 01/02/2016 CML
16.5.3a 01/02/2016 CML
16.5.3b 01/02/2016 CML
16.5.3c 01/02/2016 CML
4.5b 01/02/2016 CML
3.2.4 26/11/2015 CML
10.9 16/06/2015 CML

Last update 21/09/2019

Tesco Bank Conveyancing Panel Sample Enquires to our Call Center from members of the public

My Solicitor is not listed on the Tesco Bank Solicitor Panel. Is it possible for me to retain my preferred solicitor even though they are not on the Tesco Bank list of approved lawyers?
You will need to have a conveyancer complete the legal work required when you take out a Tesco Bank mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Tesco Bank conveyancing panel additional costs will be incurred as separate legal representation will be required by Tesco Bank. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
My solicitor has requested from me personal identification documents asserting that this is part of his obligations as a solicitor on the Tesco Bank Solicitor panel. Can you confirm whether this is the case?
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
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Tesco Bank conveyancing panel. My lawyer has said that they are on the Tesco Bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Tesco Bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Tesco Bank solicitor panel.
I would like to get my former partner removed the mortgage deeds. Can Tesco Bank really tell me which solicitor I can or can not use?
You can use any solicitor you like but Tesco Bank 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 Tesco Bank solicitors panel
Why might a lender such as Tesco Bank withdraw a mortgage offer?
Banks and Building Societies such as Tesco Bank can revoke their mortgage offer although this rarely happens. In the unlikely event that Tesco Bank withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a few examples:
  • If the borrower informs Tesco Bank of a change in the loan amount agreed
  • Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
  • 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
  • Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
I am currently in the process of buying my council flat. I have a mortgage agreed with Tesco Bank. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Tesco Bank you will need to appoint a solicitor on the Tesco Bank conveyancing panel.
I have a mortgage with Tesco Bank. Conveyancing has been completed 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Tesco Bank?
Tesco Bank must be informed of your intention prior to renting your property as this is likely to be a breach of Tesco Bank’s mortgage conditions. It may be that Tesco Bank will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Tesco Bank directly. You need not do this via a Tesco Bank conveyancing panel solicitor.