Find an Approved Solicitor on the Teachers Building Society
FAQs : The Teachers Building Society Solicitor Panel
What is the rationale as to why all solicitors are not on the Teachers Building Society Conveyancing panel?
As unjust as it may seem for Teachers Building Society to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern Teachers Building Society are limiting their panel of approved conveyancing lawyers to a size that they are happy to control. The Teachers Building Society conveyancing panel is not the most difficult to join
My god-son is purchasing a house that has just been built with a mortgage from Teachers Building Society. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Teachers Building Society conveyancing panel as a standard part of the process, and to the valuer when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Teachers Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I note that you have a search directory listing firms on the Teachers Building Society conveyancing panel. Do firms pay you a referral fee if I appoint them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Teachers Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I was expecting to move into my flat two days ago. My lawyer’s firm is on the Teachers Building Society conveyancing panel but has changed address 8 weeks ago and had not advised Teachers Building Society of their new address. Teachers Building Society has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Teachers Building Society branch or your mortgage broker to see if they can assist.
I have paid off my mortgage with Teachers Building Society. I assume I don't need a solicitor on the Teachers Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Teachers Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Teachers Building Society mortgage from the register. Teachers Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Teachers Building Society has sent the Land Registry the discharge electronically, and
the Teachers Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Teachers Building Society mortgage has been paid off.
For 5 years I had a mortgage with Teachers Building Society. My father has just retired and wants to pay off my mortgage. After Teachers Building Society is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Teachers Building Society conveyancing panel? I do not intend to live at the property once the Teachers Building Society mortgage is discharged.
will need a solicitor but they need not be on the Teachers Building Society conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Teachers Building Society are being a right pain. The solicitor who is on the Teachers Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Teachers Building Society are insisting on a building regulation certificate. Why do Teachers Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Teachers Building Society have referred the matter to their valuer. The reason why Teachers Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.