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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
FAQs for the Teachers Building Society Conveyancing Panel
I am selling my house and the estate agent has just telephoned to say that the buyers are switching solicitor. I am told that this is due to the fact that Teachers Building Society will only work with solicitors on their conveyancing panel. On what basis would a leading mortgage company only deal with certain lawyers?
Mortgage companies have always had panels of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
Our conveyancer is asking me for ID documents asserting that this forms part of his obligations as a conveyancer on the Teachers Building Society Solicitor panel. Am I being spun a yarn?
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
I need to find a Teachers Building Society panel solicitor in Stirling. Could you help me?
It is not clear why you need a Teachers Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Teachers Building Society to find out which solicitors in Teachers Building Society 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
We're in Birmingham, First time buyers purchasing with a mortgage (lender is Teachers Building Society , but our lawyer is on the Teachers Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Teachers Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Is there a list of Teachers Building Society panel solicitors on the Council of Mortgage Lender’s 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.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called Teachers Building Society on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Teachers Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Teachers Building Society. Unless your lawyer obtains specific confirmation in writing that Teachers Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Teachers Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
After shopping around on the internet I have found a solicitor having checked that they are on the Teachers Building Society conveyancing panel. Does my lawyer arrange the survey of the property?
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Having read lots of house buying,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Teachers Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Teachers Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Teachers Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Teachers Building Society you could contact your them to see if they have a list of approved surveyors.