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approved by Saffron BS
Ready to buy a new home? Failing to check that a lawyer is on the Saffron BS list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Saffron Building Society Conveyancing Panel? How can my firm be reinstated onto the Saffron Building Society Conveyancing Panel?Find an Approved Solicitor on the Saffron Building Society Conveyancing Panel
FAQs : The Saffron Building Society Conveyancing Panel
On what basis could a law firm be excluded from the Saffron Building Society approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Saffron Building Society
My god-son is in the process of securing a newly built flat with a mortgage from Saffron Building Society. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Saffron Building Society conveyancing panel as a standard part of the process, and to the valuer when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Saffron Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Saffron Building Society conveyancing panel. My lawyer has said that they are on the Saffron Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Saffron Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Saffron Building Society solicitor panel.
I am selling my house. Does my solicitor have to be on the Saffron Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Saffron Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Can you point me to a directory of Saffron Building Society panel conveyancers on the CML Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
is it true that all solicitors on the Saffron Building Society conveyancing panel overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Saffron Building Society conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
We have had an offer accepted on a house I spoke to a conveyancer previously used by my brother and he suggested using a property lawyers approved by Saffron Building Society. The estate agent recommended two local firms so I asked Saffron Building Society if the 2 suggested solicitors are approved, which they are not. Saffron Building Society suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Saffron Building Society 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Saffron Building Society to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Saffron Building Society conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Saffron Building Society conveyancing panel as it may only take about 2-3 weeks. As long as they meet Saffron Building Society’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.