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Lloyds TSB Scotland Conveyancing Panel Recently Asked Questions
I am expecting a mortgage offer from Lloyds TSB Scotland. I would like to enlist the help of a Licensed Conveyancer. Does the Lloyds TSB Scotland Conveyancing panel exclude Licensed Conveyancers
Lloyds TSB Scotland’s conveyancing panel is, like many other lenders associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
My husband and I changing mortgage lender for our maisonette with Lloyds TSB Scotland. We have a son 19 who lives with us. The solicitor on the Lloyds TSB Scotland conveyancing panel requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Lloyds TSB Scotland conveyancing panel as he never had to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Lloyds TSB Scotland conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Lloyds TSB Scotland .This is solely used to protect the Lloyds TSB Scotland if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Lloyds TSB Scotland had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Lloyds TSB Scotland conveyancing panel. My lawyer has said that they are on the Lloyds TSB Scotland 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 Lloyds TSB Scotland 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 Lloyds TSB Scotland solicitor panel.
I am selling my house. Does my solicitor have to be on the Lloyds TSB Scotland conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Lloyds TSB Scotland conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
When it comes to mortgage companies such as Lloyds TSB Scotland do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to proceed? I plan to obtain a mortgage with Lloyds TSB Scotland. Is it possible to avoid using solicitors to save on the costs? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Lloyds TSB Scotland involved you will need to appoint a solicitor on the Lloyds TSB Scotland conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Lloyds TSB Scotland. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Lloyds TSB Scotland conveyancing panel.
I am currently in the process of buying my council flat. I have a mortgage offer with Lloyds TSB Scotland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Lloyds TSB Scotland you will need to appoint a solicitor on the Lloyds TSB Scotland conveyancing panel.
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