FAQs : The TSB Solicitor Panel
from members of the public
I was advised recently by my mortgage broker that my solicitor is not on the TSB Solicitor panel. How can I check?
The first thing you need to do is to contact your lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they could put your in touch with solicitors on the the approved TSB solicitor panel.
My husband and I are refinancing our maisonette with TSB. We have a son 18 who lives with us. The solicitor on the TSB conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this document specific to the TSB conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to TSB .This is solely used to protect the TSB if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of TSB had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am planning to acquire a property and need a conveyancing solicitor in Liverpool who is on the TSB solicitor. Can you recommend a local firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for TSB . We don’t recommend any particular firm.
Can you clarify what the consequences are if my solicitor is removed from the TSB Conveyancing panel prior to the completion date?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
How can we tell if a solicitor on the TSB panel is any good?
seeking recommendations is a good start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the lawyer carrying out your conveyancing
What are the common reasons for a lender such as TSB to withdraw a mortgage offer?
Banks and Building Societies such as TSB can revoke their mortgage offer although this is unusual. should TSB 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 5 examples:
Where information comes to TSB ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
TSB may amend or withdraw an offer if the TSB 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
Many mortgage offers have an expiry date. Your lawyer should check this. TSB may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that TSB conveyancing panel solicitors would be obliged to notify TSB of a change in the price of the property.
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
We are are remortgaging a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon are preferred to beinstructed. My motherrecommended that we enquire that the solicitor in Hendon is on the TSB panel. Surely I don't need to do this, do I?
It is not that case that all Hendon conveyancing practices are on the TSB conveyancing panel. 5 people a month use our search tool to find a Hendon conveyancing lawyer
on the on the TSB list of approved conveyancing firms.