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 CML and PI insurers. It is a unique risk mitigation tool.

This system assists the way you can prove to lender panels that you are, and can remain fully compliant with their requirements, with alerts on Tesco Bank’s changes. Even though using COMPLETIONmonitor 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 panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces compliance and CQS reports, and will increase your firm's efficiency. In addition it is user friendly, cost-effective and, for many firms, leads to reduced PII premiums.

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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 210 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 13.0 days. In total, 25% 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
6.7.1 21/09/2018 CML
14.2.1 05/12/2017 CML
6.7.1 12/10/2017 CML
16.3.2 01/02/2016 CML
16.3.4 01/02/2016 CML
16.5.2 01/02/2016 CML
4.5b 01/02/2016 CML
3.2.4 26/11/2015 CML
10.9 16/06/2015 CML
5.14.13 01/12/2014 CML

Last update 10/11/2018

Examples of recent questions relating to the Tesco Bank Solicitor Panel from members of the public

I need to swap lawyers as my lawyer is not on the Tesco Bank panel of conveyancing solicitors. Is it advisable to appoint a new law firm?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
My solicitor has spotted a discrepancy between the assumptions in Tesco Bank’s home valuation report and what is in the conveyancing documents. My solicitor says that as he is on the Tesco Bank conveyancing panel he must check that the bank is with this discrepancy and is content go ahead. Is my solicitor’s course or action legitimate?
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 both parties.
How up to date is your search tool for the Tesco Bank conveyancing panel? Do Tesco Bank send you an updated list?
The law firm practices themselves provide us confirmation that they are on the Tesco Bank conveyancing panel as opposed to being supplied with a list from Tesco Bank directly.
My grandmother passed away 10 months ago and as sole heir and executor was left the property. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Tesco Bank , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Tesco Bank will insist on your using a conveyancer on the Tesco Bank conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Tesco Bank conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Tesco Bank mortgage is registered as a charge at the Land Registry.
Two weeks ago we had a mortgage agreed in principle with Tesco Bank. Solicitors have been appointed? 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 survey? Have you advised Tesco Bank as your lawyers details and checked that your lawyer is on the Tesco Bank conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
I'm spending time viewing flats and am about to put in an offer. Should I already have a conveyancer appointed at this stage? I intend to finance via a home loan 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 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.
I have not been happy with the level or service received from my lawyer. Is there a Tesco Bank conveyancing panel complaints department or do I complain directly to the law firm?
Complaining to Tesco Bank about their conveyancing panel is unlikely to yield much of a response. All solicitors and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.

The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.

If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.