Q and A’s regarding the Saffron Building Society Conveyancing Panel from members of the public
The lawyer I wanted to use for conveyancing on a purchase said he will levy higher legal fees if my lender is because of their unusual legal requirements. Will I regret using Saffron Building Society? Is Saffron Building Society conveyancing so much more difficult?
Saffron Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Saffron Building Society conveyancing panel. If they are not, this does add further risk of delay as Saffron Building Society will appoint their own solicitors to look after their interest.
My lawyer has discovered an inconsistency between the surveyor’s assumptions in Saffron Building Society’s home valuation report and what is in the legal papers for the property. My lawyer has advised that as he is on the Saffron Building Society conveyancing panel he must check that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action correct?
A precondition to being on the Saffron Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Saffron Building Society) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Are there any apps to help find a local solicitor on the Saffron Building Society conveyancing panel? I have a car and am prepared to travel up to 10 kilometers to meet the solicitor.
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 Saffron Building Society solicitor panel.
I am considering applying for a Saffron Building Society mortgage for purchase of a new build (under development) with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Saffron Building Society?
There is nothing to stop you using your solicitor but Saffron Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I have decided to exercise my right to buy my property off the council. I have a mortgage offer with Saffron Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Saffron Building Society you will need to appoint a solicitor on the Saffron Building Society conveyancing panel.
I am selling my flat. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Saffron Building Society are being pedantic. The solicitor who is on the Saffron Building Society conveyancing panel is recommending indemnity insurance as a solution but Saffron Building Society are requiring a building regulation certificate. Why do Saffron Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Saffron Building Society have referred the matter to their valuer. The reason why Saffron Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
My offer on house has been accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What do I do now? At what point should I appy for the mortgage with Saffron Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Saffron Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Saffron Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.