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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
Examples of recent questions relating to the Teachers Building Society Conveyancing Panel
For what reasons would a law firm be excluded from the Teachers Building Society solicitor 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 :
- Low volume 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 Teachers Building Society
Can you help?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from Teachers Building Society was dated random date and we have agreed a date for me to move into the property on 10 days inc Day of week eg. Mon. My solicitor informs me that as she is on the Teachers Building Society conveyancing panel she needs to redo the searches as they are no longer acceptable to the lender.
One of the many conditions 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 specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Teachers Building Society.
I have been searching for conveyancing quotes online. Can I be sure that all the law firms that are identified on your site are on the Teachers Building Society conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us 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 bank or a member of the public that the data about a specific firm being on the Teachers Building Society conveyancing panel is incorrect.
Can you clarify what the consequences are if my solicitor is removed from the Teachers Building Society Conveyancing panel in advance of completion?
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 for a fee.
Is there a list of Teachers Building Society panel solicitors on the CML Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
Can I be sure that the solicitor on the Teachers Building Society panel is any good?
seeking recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer conducting your conveyancing
We have agreed a price on a apartment I spoke to a lawyer previously used by my dad and he recommended retaining a property lawyers approved by Teachers Building Society. The estate agent recommended two local firms so I asked Teachers Building Society if the 2 suggested solicitors are approved, which they are not. Teachers Building Society suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Teachers Building Society 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Teachers Building Society 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 Teachers Building Society 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 Teachers Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Teachers Building Society’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.