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approved by Tesco Bank
Ready to buy a new home? Failing to check that a lawyer is on the Tesco Bank list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Tesco Bank (a trading name of Tesco Personal Finance plc) Conveyancing Panel
Tesco Bank Solicitor Panel Recently Asked Questions
On what basis could a firm of solicitors be removed from the Tesco Bank approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been removed 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 Tesco Bank
My lawyer has uncovered a difference when comparing the surveyor’s assumptions in Tesco Bank’s home valuation survey and what is in the title deeds. My solicitor informs me that as he is on the Tesco Bank conveyancing panel he needs to ensure that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action right?
A precondition to being on the Tesco Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Tesco Bank) 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 you.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Tesco Bank conveyancing panel. My lawyer has said that they are on the Tesco Bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Tesco Bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Tesco Bank solicitor panel.
My solicitors in Manchester have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with Tesco Bank. Is it case that being on the Tesco Bank conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Tesco Bank Conveyancing Panel Terms. It might be worth you contacting Tesco Bank directly.
I had instructed online conveyancers based in Bristol who are on the Tesco Bank solicitor panel. They are now charging me a separate fee of £175 for dealing with the Tesco Bank mortgage. Is this a supplemental conveyancing fee specified by Tesco Bank?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Tesco Bank but by your lawyers. Some firms on the Tesco Bank will charge an ‘acting for lender’ fee and others do not.
We expect to receive a DIP from Tesco Bank this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Tesco Bank recommend a solicitor on the Tesco Bank conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Tesco Bank conveyancing panel. The solicitor represents both you and the Tesco Bank through the process.
I recently had an offer accepted on an apartment. My financial adviser pressured me to appoint their lawyers I paid an upfront payment of 225. Soon after the conveyancers contacted me to say that they were not on the Tesco Bank conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Tesco Bank panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
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Transfer of Equity for Tesco BankPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors