Saffron Building Society Conveyancing Panel Sample Enquires to our Call Center from members of the public
My husband and I are FTBs. Within the 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Saffron Building Society have this afternoon contacted us to inform me that there is now an issue as our conveyancer is not on their conveyancing panel. What do we do from here?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitors should contact Saffron Building Society and see if they can apply for membership of the Saffron Building Society conveyancing panel, but if that is not viable Saffron Building Society will instruct their own solicitors to act. You don't have to instruct a firm on the Saffron Building Society conveyancing panel and you may continue to use your own solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Our solicitor has requested from me proof of ID documents saying that this forms part of his retainer as a conveyancer on the Saffron Building Society Conveyancing panel. Can you confirm whether this is the case?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that Saffron Building Society also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Saffron Building Society CML Handbook requirements last updated on Saffron Building Society
I am buying a property and need a conveyancing solicitor in Newcastle who is on the Saffron Building Society approved. Could you point me in the right direction as regards a solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Saffron Building Society . We don’t recommend any particular firm.
We're in London, First time buyers buying with a mortgage (lender is Saffron Building Society , but our solicitor is on the Saffron Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Saffron Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
I had instructed online solicitors based in Birmingham who are on the Saffron Building Society solicitor panel. They have just invoiced me a separate fee of £195 for dealing with the Saffron Building Society mortgage. Is this a supplemental conveyancing fee set by Saffron Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Saffron Building Society but by your lawyers. Some firms on the Saffron Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
I have agreed a price on a flat I spoke to a conveyancer recommended by my brother and he recommended instructing a solicitor 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 pointed out that either firm 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 for conveyancing panel firms in your area. 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.
I am selling my apartment. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Saffron Building Society are being a right pain. The solicitor who is on the Saffron Building Society conveyancing panel is saying indemnity insurance will be fine 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.