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approved by Lloyds TSB Sct
Ready to buy a new home? Failing to check that a lawyer is on the Lloyds TSB Sct list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?How does my firm apply to be on the Lloyds TSB Scotland plc Conveyancing Panel? How can my firm be reinstated onto the Lloyds TSB Scotland plc Conveyancing Panel?
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Q and A’s regarding the Lloyds TSB Scotland Solicitor Panel
My financial adviser has asked me for my lawyer’ panel member for the Lloyds TSB Scotland conveyancing panel. How do I discover this. I have contacted my local Lloyds TSB Scotland branch but they don't know it.
You are best placed to get this information from your conveyancing lawyer. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Lloyds TSB Scotland.
We are getting closer to an exchange and my parents having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Lloyds TSB Scotland. Apparently, being on the Lloyds TSB Scotland conveyancing panel and acting on their behalf he must inform Lloyds TSB Scotland if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Lloyds TSB Scotland to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Lloyds TSB Scotland if you agree, failing which, your lawyer must cease to continue acting.
How up to date is your search tool for the Lloyds TSB Scotland conveyancing panel? Do Lloyds TSB Scotland send you an updated list?
The firms themselves provide us confirmation that they are on the Lloyds TSB Scotland conveyancing panel as opposed to being supplied with a list from Lloyds TSB Scotland directly.
What happens if my solicitor is expelled from the Lloyds TSB Scotland Solicitor panel before the moving date as agreed at exchange of contracts?
The first thing to point out is that, this is very unlikely to happen. 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 at a cost.
In what circumstances might Lloyds TSB Scotland amend or withdraw their mortgage offer?
Banks and Building Societies such as Lloyds TSB Scotland can revoke their mortgage offer although this is unusual. should Lloyds TSB Scotland withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are a number of examples:
- Where information comes to Lloyds TSB Scotland ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- If the borrower informs Lloyds TSB Scotland of a change in security address
- If the borrower informs Lloyds TSB Scotland of a change in the loan amount agreed
- Where the Lender’s right to possession is fettered in some way
- If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
We were going to get a DIP from Lloyds TSB Scotland this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Lloyds TSB Scotland recommend a solicitor on the Lloyds TSB Scotland conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Lloyds TSB Scotland conveyancing panel. The solicitor represents both you and the Lloyds TSB Scotland through the process.
I am currently in the process of buying my council flat. I have a mortgage agreed with Lloyds TSB Scotland. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Lloyds TSB Scotland you will need to appoint a solicitor on the Lloyds TSB Scotland conveyancing panel.