TSB Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers. It is a unique risk mitigation tool.

This software optimises the way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with automatic updates on TSB’s changes. Even though utilising this technology is not a condition for acceptance on the TSB panel, demonstrating you can remain up to date with TSB’s Handbook requirements is an excellent support to your panel application and, just as importantly, protect your firm’s panel status.

The system generates real-time alerts, automatically produces SRA and CQS reports, and will enhance your firm's efficiency. It is also simply to use, cost-effective and, for many firms, results in a PII saving.

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Lenders frequently change their requirements. The UK Finance Lenders’ Handbook requirements from TSB 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, TSB has made 100 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 27.3 days. In total, 18% of the sections of P2 of the UK Finance Lenders’ Handbook for TSB have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Frequently asked questions relating to the TSB Solicitor Panel from members of the public

I am getting a offer of a mortgage from TSB. I hope to employ the services of a Licensed Conveyancer. Does the TSB Conveyancing panel allow for conveyancers regulated by the CLC
TSB’s conveyancing panel is, like many other lenders represented by the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Can you clarify something for me?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from TSB was date stamped random date and we have agreed a date for me to move into the property on 6 months + 3. My lawyer informs me that as she is on the TSB conveyancing panel she needs to reorder the searches as they are now out of date.
One of the many conditions to being on the TSB approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on TSB)which states that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to TSB.
How up to date is your search tool for the TSB conveyancing panel? Do TSB send you an updated list?
The law firm practices themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
My solicitors in London have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with TSB. Is it case that being on the TSB conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the TSB Conveyancing Panel Terms. It might be worth you contacting TSB directly.
I previously instructed online conveyancers based in Manchester who are on the TSB solicitor panel. They have just invoiced me a separate fee of £150 for the legal aspects of the TSB mortgage. Is this a supplemental conveyancing fee specified by TSB?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by TSB but by your lawyers. Some firms on the TSB will charge an ‘acting for lender’ fee and others do not.
We have a mortgage agreed in principle with TSB. Solicitors have been chosen? How long does it take for TSB to send the offer to our conveyancer
Some lenders take longer than others. Have TSB done the valuation? Have you advised TSB as your lawyers details and checked that your lawyer is on the TSB conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
At last I have had an offer on an apartment accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with TSB?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the TSB conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with TSB and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.