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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 Example Support Desk Enquires
My financial adviser has informed me that I have to pay Tesco Bank fees should I instruct my family lawyer. How good are the Tesco Bank conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH provided that they are good and not exorbitantly priced. Would you recommend a specific law firm on the Tesco Bank panel?
Tesco Bank’s conveyancing panel is substantial so it would be advisable to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that Tesco Bank will allow to act for them.
We are approaching an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Tesco Bank. I am advised that, being on the Tesco Bank conveyancing panel and acting on their behalf he must inform Tesco Bank if the balance of the mortgage advance is not just from me. I advised the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Tesco Bank to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Tesco Bank if you agree, failing which, your lawyer must cease to continue acting.
How up to date is your database of lawyers on the Tesco Bank conveyancing panel? Do Tesco Bank send you an updated list?
The firms themselves provide us confirmation that they are on the Tesco Bank conveyancing panel as opposed to being supplied with a list from Tesco Bank directly.
I was due to move into my first house two days ago. My solicitor is on the Tesco Bank solicitors panel but has moved offices in the past couple of months and had not advised Tesco Bank of their new address. Tesco Bank is now refusing to release my 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 Tesco Bank branch or your mortgage broker to see if they can assist.
I previously instructed online conveyancers located in Manchester who are on the Tesco Bank solicitor panel. They are now charging me a separate fee of £175 for the legal aspects of the Tesco Bank mortgage. Is this an additional 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.
I have had an offer accepted on a apartment I spoke to a lawyer recommended by my brother and he advised retaining a solicitor approved by Tesco Bank. The estate agent recommended two local firms so I asked Tesco Bank if the 2 suggested solicitors are approved, which they are not. Tesco Bank pointed out that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Tesco Bank 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Tesco Bank 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 Tesco Bank 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 Tesco Bank conveyancing panel as it may only take about 2-3 weeks. As long as they meet Tesco Bank’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.
The mortgage over my property is with Tesco Bank. Conveyancing has been completed months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Tesco Bank?
You must advise Tesco Bank in advance of renting your property as this is likely to be a breach of Tesco Bank’s mortgage conditions. It may be that Tesco Bank will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Tesco Bank directly. It should not be necessary to do this via a Tesco Bank conveyancing panel firm.
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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