TSB Conveyancing Panel : Questions and Answers
from members of the public
Am I correct in assuming that the fact that my solicitor is not identified on the TSB Solicitor panel that there is a problem with the quality of his conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for TSB.
I am due to move into my new home next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for TSB. What does the insurance need to cover?
All property lawyers on the TSB conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in TSB’s Part 2 requirements of the CML Handbook (last updated on TSB). Being on the TSB conveyancing panel your lawyer is expect to follow these instructions.
Are there any apps to help search for a local solicitor on the TSB conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the lawyer.
You can use the find a conveyancing panel search on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the TSB solicitor panel.
I am selling my house. Does my solicitor have to be on the TSB conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the TSB conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Are all Conveyancing Quality Solicitors on the TSB conveyancing panel?
Some major lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with TSB. 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 use 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 TSB you will need to appoint a solicitor on the TSB conveyancing panel.
We are are taking a long lease of a terraced house in Hendon. Conveyancing solicitors in Hendon are about to beretained. My colleaguerecommended that we double-check that the conveyancer in Hendon is on the TSB panel. Surely I don't need to do this, do I?
A limited percentage of Hendon conveyancing solicitors are on the TSB conveyancing panel. 8 people a month use our search tool to locate a
Hendon conveyancing firm on the on the TSB solicitors pane.