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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
Frequently asked questions relating to the Teachers Building Society Conveyancing Panel
Is the fact that my conveyancer is not on the Teachers Building Society Solicitor panel that there is a problem with the quality of her work?
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.
How do I find a local solicitor on the Teachers Building Society conveyancing panel? I have a car and am prepared to travel up to 25 miles to meet the solicitor.
Feel free to make use of the find a conveyancing panel tool on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Teachers Building Society solicitor panel.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Teachers Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Teachers Building Society 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.
My wife and I have arranged a further advance on our mortgage from Teachers Building Society as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Teachers Building Society conveyancing panel to deal with the paperwork?
Teachers Building Society would not normally appoint firms on their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Teachers Building Society panel
My husband and I are in the throws of viewing houses and now considering a potential offer. Is it best to have a conveyancer on ‘stand by’? I will be getting a home loan with Teachers Building Society
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Teachers Building Society , make sure you remember to check that your lawyer is on the Teachers Building Society conveyancing panel.
My offer on house has been accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Teachers Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Teachers Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Teachers Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.