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Is the fact that my conveyancer is not on the TSB Solicitor panel that there is a problem with the standard of her 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 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 TSB.
Please help. My lawyer is informing me me that he has to apply for a Local Authority search because the firm are on the TSB conveyancing panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with TSB your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of TSB’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated TSB. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Are the lawyers identified as being on the TSB conveyancing panel, together with their details provided by TSB?
The firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
The lawyers that I appointed last week on my purchase in Brighton has without warning closed. I only went with them because I needed a firm on the TSB conveyancing panel and my preferred lawyer was not. I paid them £200 on account. What are my options?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the TSB conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help
Is it the case that all solicitors on the TSB conveyancing panel overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the TSB conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I have agreed a price on a apartment I spoke to a solicitor previously used by my brother and he recommended retaining a law firm approved by TSB. The estate agent recommended two local firms so I asked TSB if the 2 suggested solicitors are approved, which they are not. TSB pointed out that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of TSB 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of TSB to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the TSB conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto TSB conveyancing panel as it may only take about 2-3 weeks. As long as they meet TSB’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have telephoned TSB on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the TSB conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
As long as the conveyancer is on the TSB panel she or he must comply with the CML Handbook requirements for TSB. Unless your lawyer obtains specific confirmation in writing that TSB will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask TSB to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
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