Teachers Building Society Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Teachers Building Society and to assist in remaining on the Teachers Building Society Conveyancing Panel.

Teachers Building Society Conveyancing Panel Information:

What are the Teachers Building Society conveyancing panel criteria?
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.

my firm is on the Teachers Building Society conveyancing panel. Can I get an archived copy of Teachers Building Society Specific Requirements from the BSA?
The BSA, as is the case with the CML do not retain duplicates of Specific Requirements. We would recommend you make a request of Teachers Building Society direct.
Can a practice register a complaint to the BSA about being removed excluded suspended from the Teachers Building Society conveyancing panel?
The BSA is an association rather than a regulator and therefore will not investigate grievances against lenders. You can of course contact us to see if we can help.
Why has the BSA introduced differing instructions from the CML?
The BSA introduced it’s Mortgage Instructions in 2010 to ensure that licensed conveyancers or solicitors on a building society conveyancing panel had full access to a complete set of standardised mortgage instructions.
My firm is not on the Teachers Building Society conveyancing panel as well other banks . My clients, who have applied for a mortgage with Teachers Building Society would still like to instruct me regardless of the fact that we are not on the Teachers Building Society panel. Is it fine for me to use a local to act for Teachers Building Society on mortgage aspect of the transaction?
You need to be careful here as what you are proposing may not be acceptable to the mortgage company. It is possible that you (as a non-panel firm) or the mortgage applicant are not at liberty instruct a panel firm of your choice. An increasing amount of lenders are making it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer. You also need to make the costs implications and potential for delay very clear to your client.
My firm is on the Teachers Building Society conveyancing panel. I am dealing with Teachers Building Society mortgage on a purchase. My borrower client is asking not to disclose an issue to Teachers Building Society. What do I do in this conflict situation?
When a solicitor is acting for both Teachers Building Society and borrower there is potential for conflicts to arise. You owe duties to both clients. All information received by you from your client is confidential and cannot be disclosed without the client’s consent.

In your situation, if the purchaser will not consent to the information being passed on to the lender, the solicitor must cease to act for Teachers Building Society and it may well be prudent for you to cease to act for the purchaser as well. You must not inform Teachers Building Society of the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your Teachers Building Society conveyancing panel status.

I seldom receive a copy of a lender valuation any more. Do my Teachers Building Society conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Teachers Building Society as the Mortgagee?
There are various requirements you need to follow if you wish to comply with your lender client’s instructions as set out in the BSA Mortgage Instructions. (a) You must take reasonable steps to verify that there are no discrepancies between the description of the property as compared to their old address.
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:

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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.
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* Data aggregated from sources including COMPLETIONmonitor