FAQs for the TSB Solicitor Panel from members of the public
I appointed a law firm to carry out on my house purchase 4 weeks ago having applied for a mortgage with TSB. The law firm reassured me that they are on TSB conveyancing panel and advised me their panel number. TSB then called me to say that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm currently on the approved panel for TSB?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the TSB as to the time frame to get your lawyer reinstated on the panel once again.
I am due to move into my new home next Monday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for TSB. What risks do TSB expect the insurance to cover?
Any lawyer 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.
How up to date is your database of lawyers on the TSB conveyancing panel? Do TSB send you an updated list?
The firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
The solicitors that just started acting on my house acquisition in Hendon has suddenly closed. They were on acting for me because I had to have a lawyer on the TSB conveyancing panel and my family lawyer was not. I gave them a cheque for £150 in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the TSB conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help
Are all Conveyancing Quality Solicitors on the TSB conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
After shopping around on the internet I have found a solicitor having made sure that they are on the TSB conveyancing panel. Does my lawyer arrange the survey of the property?
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I've digested plenty of mortgage guides,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the TSB conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with TSB you could contact your them to see if they have a list of approved surveyors.
Me and my partner are purchasing a penthouse in Hendon. Conveyancing solicitors in Hendon need to beappointed. My brother-in-lawsuggested that we check that the property lawyer in Hendon is on the TSB list of approved conveyancing firms. Is this right?
Not all Hendon conveyancing practices are on the TSB conveyancing panel. Use the above search tool to search for a Hendon conveyancing lawyer on the on the TSB panel.
