TSB Conveyancing Panel : Questions and Answers
from members of the public
I have just been informed by my mortgage adviser that my lawyer is not on the TSB Conveyancing panel. What can I do to be certain that this is indeed the case?
You need to contact your conveyancer. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for TSB.
I am due to move into my new home next Thursday. 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 does the insurance need 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.
Do all the firms listed on your directory have online case tracking as I understood that this was a condition of being on the TSB conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
The solicitors that I recently instructed on my house acquisition in Hendon has without warning closed. I only went with them because I needed a firm on the TSB conveyancing panel and my family lawyer was not. I gave them a cheque for £150 in advance. What should be my next steps?
If you have an estate agent involved then let them know straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would 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 lawyers should be in a position to assist
I had instructed online solicitors located in Manchester who are on the TSB solicitor panel. They are now charging me a separate fee of £135 for the legal aspects of the TSB mortgage. Is this an additional 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 but plenty of firms include it on their overall fee.
I recently had an offer accepted on an apartment. My mortgage broker recommended their conveyancers I paid an upfront payment of 225. Soon after the conveyancers contacted me to say that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
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?
I've digested plenty of house buying,I note that they all recommend that you should 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 correct?
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.
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.