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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.
Looking for information about your firm's panel status?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?
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Teachers Building Society Solicitor Panel Recently Asked Questions
I am getting a mortgage offer from Teachers Building Society. my intention is to instruct a Licensed Conveyancer. Does the Teachers Building Society Conveyancing panel exclude Licensed Conveyancers
Teachers Building Society’s approved solicitor list is, like many other lenders represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
Much to my surprise my conveyancer has informed me that he requires identification documents stating that this forms part of his requirements as a solicitor on the Teachers Building Society Solicitor panel. This is news to me - can I refuse?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that Teachers Building Society also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Teachers Building Society CML Handbook requirements last updated on Teachers Building Society
Do I have to visit the offices of the Teachers Building Society conveyancing panel solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Bristol so that I can attend their offices when needed.
Whereas this was necessary ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Bristol .
My grandmother passed away six months ago and as sole heir and executor was left the house. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Teachers Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Teachers Building Society will insist on your using a conveyancer on the Teachers Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Teachers Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Teachers Building Society mortgage is registered as a charge at the Land Registry.
Is it the case that all conveyancing lawyers on the Teachers Building Society conveyancing panel work on a no sale no fee basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
I'm spending time looking at houses and am about to put in an offer. Should I already have a conveyancer appointed at this stage? I I am planning to take a mortgage with Teachers Building Society
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Teachers Building Society , make sure you remember to check that your lawyer is on the Teachers Building Society conveyancing panel.
I was told four weeks ago that my mortgage has been agreed to by Teachers Building Society. Is it usual for Teachers Building Society to only issue the offer once my solicitor is approved on their conveyancing panel?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Teachers Building Society to deal with your lawyers application to be on the Teachers Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.