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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?Is my firm on the Lloyds TSB Scotland plc Conveyancing Panel? 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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Frequently asked questions relating to the Lloyds TSB Scotland Solicitor Panel
I was advised recently by my IFA that my lawyer is not on the Lloyds TSB Scotland Solicitor panel. How can I check?
The first thing you need to do is to contact your conveyancer. 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 conveyancing panel for Lloyds TSB Scotland.
My lawyer has spotted a discrepancy when comparing the surveyor’s assumptions in Lloyds TSB Scotland’s home valuation report and what is revealed within the conveyancing documents. My solicitor has advised that as he is on the Lloyds TSB Scotland conveyancing panel he must check that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s approach right?
A precondition to being on the Lloyds TSB Scotland approved panel is to comply with the CML Handbook requirements (last updated for this lender on Lloyds TSB Scotland) 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 you.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I understood that this was a condition of being on the Lloyds TSB Scotland 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.
I am purchasing a garden flat and getting a mortgage with Lloyds TSB Scotland. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Lloyds TSB Scotland conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Lloyds TSB Scotland conveyancing panel in your location.
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to move forward? I hope to get a mortgage with Lloyds TSB Scotland. Is it possible to avoid using solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Lloyds TSB Scotland involved you will need to appoint a solicitor on the Lloyds TSB Scotland conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Lloyds TSB Scotland. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Lloyds TSB Scotland conveyancing panel.
I have agreed a price on a apartment I spoke to a lawyer previously used by my mum and he recommended using a law firm approved by Lloyds TSB Scotland. The estate agent recommended two local firms so I asked Lloyds TSB Scotland if the 2 suggested solicitors are approved, which they are not. Lloyds TSB Scotland suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Lloyds TSB Scotland 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Lloyds TSB Scotland for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Lloyds TSB Scotland conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Lloyds TSB Scotland conveyancing panel as it may only take about 2-3 weeks. As long as they meet Lloyds TSB Scotland’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
I have a mortgage with Lloyds TSB Scotland. Conveyancing has been completed 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Lloyds TSB Scotland?
Lloyds TSB Scotland must be informed of your intention prior to letting out your property as this is likely to be a breach of Lloyds TSB Scotland’s mortgage conditions. It may be that Lloyds TSB Scotland will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds TSB Scotland directly. It should not be necessary to do this via a Lloyds TSB Scotland conveyancing panel firm.