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Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books

Your lawyer being on the Lloyds TSB Scotland conveyancing panel is duty bound to inform Lloyds TSB Scotland of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Lloyds TSB Scotland then they would have to discontinue acting for you and Lloyds TSB Scotland.

You can use the find a conveyancing panel search on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Lloyds TSB Scotland solicitor panel.

Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Lloyds TSB Scotland conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Lloyds TSB Scotland conveyancing panel in your location.

You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Lloyds TSB Scotland , ask your prospective lawyers check they are on the Lloyds TSB Scotland conveyancing panel otherwise they can't do the mortgage legal work.

Although you do need to retain the services of a lawyer they dont need to be on the Lloyds TSB Scotland panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. There's no capital gains tax for you as it is your main residence.

Lloyds TSB Scotland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds TSB Scotland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Lloyds TSB Scotland you could contact your them to see if they have a list of approved surveyors.