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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
FAQs for the Tesco Bank Conveyancing Panel
My IFA has says he needs my solicitor’s panel member for the Tesco Bank conveyancing panel. Can you suggest how I find this out. I have tried my local Tesco Bank office but they have not responded to me.
You are best placed to get this information from your conveyancing lawyer. They should have a central record lender panel numbers including the Tesco Bank panel reference.
My solicitor has spotted a discrepancy between the surveyor’s assumptions in Tesco Bank’s valuation survey and what is in the title deeds. My lawyer says that as he is on the Tesco Bank conveyancing panel he is obliged to check that the bank is happy with this discrepancy and is content go ahead. Is my conveyancer’s course or action 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 you.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Tesco Bank conveyancing panel. My lawyer has said that they are on the Tesco Bank 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 Tesco Bank 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 Tesco Bank solicitor panel.
I was due to move into my first house last Thursday. My lawyer’s firm is on the Tesco Bank conveyancing panel but has changed address 8 weeks ago 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 as unusual as it is unlucky. 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 help.
I have a mortgage with Tesco Bank. My godfather has just retired and wants to pay off my mortgage. After Tesco Bank is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Tesco Bank conveyancing panel? I do not intend to live at the property once the Tesco Bank mortgage is discharged.
You
will need a solicitor but they need not be on the Tesco Bank conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
I recently had an offer accepted on an apartment. My mortgage broker suggested a solicitor I paid an upfront payment of 175. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Tesco Bank conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Tesco Bank panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Planning on purchasing a house with a mortgage with Tesco Bank. 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 Tesco Bank 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 Tesco Bank conveyancing panel
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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