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.
Why are Estate Agents using search tools to check if lawyers are on a lenders conveyancing panel ?
Many estate agents will be suffering if their clients start out on the buying process having appointed 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.
Do you have any idea what Lenders such as Teachers Building Society are asking for when it comes to applying to be on their approved conveyancing panel?
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):
- Summary of annual accounts
- Full career history for each solicitor including admission date to the relevant Law Society
- Structure of firm and, where applicable, its group
- Charge registration history
- PII Cover details, including, if relevant, whether the firm is or has been in the assigned risks pool and structure of cover – basic split and history of any refusals
- Full complaints history for each conveyancing solicitor
- Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers
- SRA or equivalent regulator registration number where applicable
- Whether the firm is able to operate in other jurisdictions
Are the Council of Licensed Conveyancers taking any action to ensure that licensed conveyancers remain on lender conveyancing panels?
The CLC has entered dialogue with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Teachers Building Society in the recent past
Are there conditions,outside the BSA Mortgage Instructions, that a firm should be aware of when on the Teachers Building Society conveyancing panel?
In order to be on the Teachers Building Society conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Teachers Building Society) are as follows:
- To notify us in writing of any change in your details as held on our records for example, change of address, telephone number, document exchange number email address. Notification must be given to us at least 10 days before the change will be effective.
- You have the consent of all borrowers to apply for the deeds, before making any request for deeds. We will accept your request for deeds on the understanding that you have obtained such consent. If this is not the case then you should advise our Deeds Services Department in writing when you make your request
- To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
- To forward the title deeds and documents to another conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
- To be responsible for the reconstitution of the title deeds (whether the title is registered or unregistered, at your own cost), where any deeds in your possession, or were last known to be in your possession, go missing.
My firm has just been advised that it’s Teachers Building Society panel membership suspended but we have not yet been given an explanation yet . I am completing a CQS renewal form what information should I put forward?
In this situation please clarify on the form what steps you have taken to find out the reasons behind cancellation of your Teachers Building Society panel status . In particular please provide details if you have received communications from the lender. E.G. before cessation of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?
The CML Handbook contains conveyancing instructions for a roof with a solar panel. Teachers Building Society do not set out obligations via the BSA Mortgage Instructions. Is this right?
The BSA Mortgage Instructions don't
specifically deal with Solar Panels but it would be prudent as
approved solicitors for Teachers Building Society to raise the issue
with them (as you would if the UK Finance Lenders’ Handbook applied). In any event you
need to raise the appropriate questions for your buyer client.
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* |
|---|---|
| 2026 | [no data] |
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [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
