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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
Examples of recent questions relating to the Tesco Bank Conveyancing Panel
Is the fact that my solicitor is not on the Tesco Bank Conveyancing panel that there is a problem with the quality of her conveyancing?
It would not be wise to jump to that conclusion. 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 top 3 reasons are as follows: (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 Tesco Bank.
My conveyancer has discovered a discrepancy when comparing the information in Tesco Bank’s valuation survey and what is revealed within the title deeds. My lawyer informs me that as he is on the Tesco Bank conveyancing panel he is duty bound to check that the bank is happy with this discrepancy and is content go ahead. Is my lawyer’s stance legitimate?
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 both parties.
Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Tesco Bank conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am attempting to get my ex-husband taken off the mortgage deeds. Can Tesco Bank really insist on which solicitor I can or can not retain?
You can use any solicitor you like but Tesco Bank 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 Tesco Bank solicitors panel
When it comes to lenders such as Tesco Bank do solicitors 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 previously instructed online solicitors based in Birmingham who are on the Tesco Bank solicitor panel. They are now charging me a separate fee of £135 for dealing with the Tesco Bank mortgage. Is this a supplemental conveyancing fee set 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.
Tesco Bank have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Tesco Bank or your broker and complete any relevant paperwork. Tesco Bank will tell you what documents they want. Tesco Bank will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Tesco Bank will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
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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