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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.
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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?Find an Approved Solicitor on the Lloyds TSB Scotland plc Conveyancing Panel
Lloyds TSB Scotland Conveyancing Panel : Questions and Answers
On what basis would a law firm be excluded from the Lloyds TSB Scotland approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been excluded from a lender panel. The most common reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Lloyds TSB Scotland
My lawyer has uncovered a difference between the surveyor’s assumptions in Lloyds TSB Scotland’s valuation survey and what is revealed within the legal papers for the property. My solicitor informs me that as he is on the Lloyds TSB Scotland conveyancing panel he must ensure that the lender is with this discrepancy and is still content to lend. Is my solicitor’s stance appropriate?
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 both parties.
I need to find a Lloyds TSB Scotland panel solicitor in Belfast. Can you assist?
Unfortunately it’s not apparent why you need a Lloyds TSB Scotland panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Lloyds TSB Scotland to find out which solicitors in Lloyds TSB Scotland are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
I am selling my house. Does my solicitor have to be on the Lloyds TSB Scotland conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Lloyds TSB Scotland conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Can I register a complaint to Lloyds TSB Scotland about the lawyers being on the Lloyds TSB Scotland conveyancing panel?
Complaining to Lloyds TSB Scotland about their conveyancing panel is unlikely to yield much of a response. Every solicitor firm and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is properly dealt with by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
Planning on purchasing a flat with a mortgage with Lloyds TSB Scotland. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds TSB Scotland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Lloyds TSB Scotland conveyancing panel
Lloyds TSB Scotland have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Lloyds TSB Scotland or your broker and complete any relevant paperwork. Lloyds TSB Scotland will tell you what documents they want. Lloyds TSB Scotland will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Lloyds TSB Scotland will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
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Transfer of Equity for Lloyds TSB ScotlandPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors