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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
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For what reasons could a firm of solicitors be removed from the Saffron Building Society approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of solicitor practices had been excluded from a lender panel. The most common 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
Our lawyer has identified a legal deficiency with the lease for the property we are buying. The seller’s lawyers have offered defective title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor says that as he is on the Saffron Building Society conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Saffron Building Society?
Just because you have a mortgage offer from Saffron Building Society does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Saffron Building Society are the client. These conveyancing instructions have to be complied with by the Saffron Building Society conveyancing panel who has to balance acting for you and Saffron Building Society
Having used 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 was expecting to move into my flat two days ago. My solicitor is on the Saffron Building Society solicitors panel but has changed address 8 weeks ago and had not advised Saffron Building Society of their new address. Saffron Building Society is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Saffron Building Society branch or your mortgage broker to see if they can assist.
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Saffron Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Saffron Building Society your lawyer must to check the Saffron Building Society conveyancing instructions contained in the Part of CML Handbook for Saffron Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Saffron Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to move forward? I plan to obtain a mortgage with Saffron Building Society. Is it possible to avoid using solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Saffron Building Society involved you will need to appoint a solicitor on the Saffron Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Saffron Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Saffron Building Society conveyancing panel.
I have today made my last payment due on mortgage with Saffron Building Society. I assume I don't need a solicitor on the Saffron Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Saffron Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Saffron Building Society mortgage from the register. Saffron Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Saffron Building Society has sent the Land Registry the discharge electronically, and
the Saffron Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Saffron Building Society mortgage has been paid off.