Friday, 27 November 2015

Tesco Direct Lawyers on Black Friday

By way of a change to their CML Handbook instructions, Tesco Bank, as of today, require conveyancing lawyers acting for them to notify them of the details of the seller’s lawyer.

Section 3.2.3 of the CML Handbook deals with the question : Does the lender require notification of the name and address of the solicitors firm or licensed conveyancers firm acting for the seller?

By way of an amendment to section 3.2.3 of their P2’s Tesco Bank now require (“direct”) lawyers :

Yes we require you to provide us with this information by calling us on 0345 051 8446 within five working days of receipt your instructions. We will not disburse funds until we are in receipt of this information. You must also inform us immediately if the vendor instructs new solicitors or licensed conveyancers at any point prior to completion.

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