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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
Teachers Building Society Conveyancing Panel : Questions and Answers
Am I correct in assuming that the fact that my solicitor is not isted on the Teachers Building Society Solicitor panel that there is a problem with the standard of his conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Teachers Building Society.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Teachers Building Society will not agree to this. Why was Teachers Building Society even consulted?
Your lawyer being on the Teachers Building Society conveyancing panel is duty bound to inform Teachers Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Teachers Building Society then they would have to discontinue acting for you and Teachers Building Society.
Your search tool is useful but there are many lawyers listed near Chelsea on the Teachers Building Society conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Teachers Building Society ?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I am attempting to get my former partner taken off the mortgage deeds. Can Teachers Building Society really insist on which solicitor I can or can not use?
You can use any solicitor you like but Teachers Building Society then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Teachers Building Society solicitors panel
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Teachers Building Society conveyancing panel requirements are different to Teachers Building Society’s conveyancing panel requirements.
I have today made my last payment due on 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.
Planning on purchasing a house with a mortgage with Teachers Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Teachers Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Teachers Building Society conveyancing panel