Looking for information about your firm's panel status?
Teachers Building Society Conveyancing Panel Assistance:
What are the Teachers Building Society conveyancing panel arrangements?
Unlike the CML the Building Society Mortgage Instructions deal with this. Section A.12 states ‘In order to act on our behalf your firm or company must be a member of our conveyancing panel provided we are a society that operates one – see specific requirements for details of our arrangements.
The Special Requirements state:
We do not operate a conveyancing panel
You must also comply with the terms and conditions of your Teachers Building Society solicitor panel appointment.
Can a firm make a complaint to the BSA about being removed excluded suspended from the Teachers Building Society conveyancing panel?
The BSA is not a regulator and therefore will not investigate grievances against lenders. You can of course contact us to see if we can assist.
Why are Estate Agents using search tools to check if lawyers are on a lenders conveyancing panel ?
Many estate agents are feeling the pain if their clients start out on the buying process using a solicitor who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors lawyers.
Being on the Teachers Building Society conveyancing panel for what period of time am I obliged to keep hold of the complete conveyancing file?
The BSA Mortgage Instructions state that the firm must keep the file for at least 6 years from the date of the mortgage. Data imaging is normally suitable
compliance with this requirement. As a firm on the Teachers Building Society conveyancing panel you must allow Teachers Building Society to conduct such reasonable audit of your
information security measures as Teachers Building Society or their
agents may to ensure your compliance with your file retention
obligations.
What sort of information are Lenders such as Teachers Building Society are asking for when it comes to applying to be on their approved solicitor list?
Each lender has different criteria.
We do not hold specific requirements relating to the questions raised as part of the application to be on the Teachers Building Society conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):
- Full career history for each solicitor including admission date to the relevant Law Society
- Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers
- SRA or equivalent regulator registration number where applicable
- Structure of firm and, where applicable, its group
- Whether the firm is able to operate in other jurisdictions
- Full complaints history for each conveyancing solicitor
- Summary of annual accounts
- PII Cover details, including, if relevant, whether the firm is or has been in the assigned risks pool and structure of cover – top-up split and history of any refusals
- Charge registration history
I noticed the following question on my PI renewal form this year ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the BSA Mortgage Instructions?’ My firm is on the majority of bank panels including the Teachers Building Society conveyancing panel. We have Terms and Conditions of appointment which we have to follow. Am I supposed to mention these Conditions?
The key here is the caveat ‘more onerous’.
You have to try and take an objective view as to whether the Terms relating to the Teachers Building Society conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the BSA Mortgage Instructions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.
Our firm had their Teachers Building Society panel membership terminated but we have not yet been given an explanation yet . I am completing a CQS renewal form what details must I disclose?
In this situation please explain on the form what steps you have taken to discover the reasons behind cancellation of your Teachers Building Society panel membership . In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?
What lender panels do you receive the most questions about?
BSA lenders do not come within the top 20 lenders in terms of
frequency of questions. The most popular lender panels in terms of
questions are as follows:
Find a Lawyer on the Teachers Building Society Conveyancing Panel
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Average number of days to register title including a charge in favour of Teachers Building Society
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Teachers Building Society Firms
- Draft Report on Title precedent for Teachers Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Teachers Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Teachers Building Society lender panel
- Buy-to-Let help for Teachers Building Society
- Consent-to-Let help for Teachers Building Society
- Contractor Mortgages with Teachers Building Society
