Lloyds TSB Scotland Conveyancing Panel Information

Although not necessarily published, lenders have varying criteria . We do not hold specific requirements relating to the questions raised as part of the application to be on the Lloyds TSB Scotland conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

House price discrepancies (declared to lender vs. registered at Land Registry)

The percentage of the firm’s business which is conveyancing (broken down into sale

Structure of firm and, where applicable, its group

Full career history for each solicitor including admission date to the relevant Law Society

Charge registration history

Solicitor

List of all those staff who work within the conveyancing team

List of fee-earners who are foreign qualified

Full complaints history for each conveyancing solicitor

top-up split and history of any refusals

One might ordinarily expect Lloyds TSB Scotland via their Part 2 requirements to address this but the Handbook is silent on time frames. Do look at the Terms of Lloyds TSB Scotland’s Conveyancing Panel Appointment that you are bound by. For many lender's these Terms have a provision such as: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is important to keep Lloyds TSB Scotland updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

There are many reports available, five of which are as follows:

• Evidence of undertaking logs
• The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)
• Buy to Let transactions
• Average time frame to register charges at the Land Registry
• Average mortgage advance

The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Lloyds TSB Scotland as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Lloyds TSB Scotland we suggest that you call Lloyds TSB Scotland to check the position.

CQS accreditation is no guarantee to lender panel acceptance. Nevertheless the Council of Mortgage Lenders have indicated that it is likely to become a prerequisite for firms wishing to remain on their panels. Some Lenders now use the Conveyancing Quality Scheme accreditation as the starting point for Panel membership such as HSBC.

You would be advised to communicate with Lloyds TSB Scotland to obtain standard documents. The The Council of Mortgage Lenders Handbook has an express inquiry for lenders to reveal who to contact to obtain standard documents. Lloyds TSB Scotland in their Part 2’s state: Please remember to disclose the firm’s Lloyds TSB Scotland conveyancing panel reference.