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approved by Teachers BS
Ready to buy a new home? Failing to check that a lawyer is on the Teachers BS list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Teachers Building Society Conveyancing Panel? How can my firm be reinstated onto the Teachers Building Society Conveyancing Panel?Find an Approved Solicitor on the Teachers Building Society Conveyancing Panel
Teachers Building Society Solicitor Panel Example Support Desk Enquires
My husband and I are first time buyers. Within the 48 hours our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Teachers Building Society have this afternoon contacted us to advise us that they have now hit a problem as our lawyer is not on their approved list of lawyers. What do we do from here?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyers should contact Teachers Building Society and see if they can apply for membership of the Teachers Building Society conveyancing panel, but if that is not viable Teachers Building Society will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the Teachers Building Society conveyancing panel as you are at liberty to use your preferred lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
My conveyancer has spotted a discrepancy between the assumptions in Teachers Building Society’s valuation survey and what is in the conveyancing documents. My lawyer says that as he is on the Teachers Building Society conveyancing panel he is obliged to ensure that the bank is with this discrepancy and is content go ahead. Is my solicitor’s stance appropriate?
A precondition to being on the Teachers Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Teachers Building Society) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am looking for competitive conveyancing fees. Can I be assured that all the firms that are identified on your website are on the Teachers Building Society conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have assured us via an online form that they are on the Teachers Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Teachers Building Society panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Teachers Building Society conveyancing panel is not accurate.
We're in London, First time buyers buying with a mortgage (lender is Teachers Building Society , but our lawyer is on the Teachers Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Teachers Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
We are getting a further advance on our mortgage from Teachers Building Society as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Teachers Building Society conveyancing panel to deal with the paperwork?
Teachers Building Society do not ordinarily instruct firms on their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Teachers Building Society list
Completion of my purchase has taken place with a mortgage from Teachers Building Society. Conveyancing was satisfactory but I would like to complain about Teachers Building Society. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the Teachers Building Society branches or the Customer Services Department at Teachers Building Society head office. Ordinarily complaints to Teachers Building Society are sorted out very quickly. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service who will take matters further.
My ex -wife’s name is on the Teachers Building Society mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Teachers Building Society mortgage in order to sell?
As regards the Teachers Building Society mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Teachers Building Society in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.