Frequently asked questions relating to the Saffron Building Society Solicitor Panel
from members of the public
My IFA has says he needs my solicitor’s panel member for the Saffron Building Society conveyancing panel. What is the best way to discover this. I have contacted my local Saffron Building Society branch but they don't know it.
the sensible thing to do is ask for this information from your solicitor. They should have a central record lender panel numbers including the Saffron Building Society panel reference.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Saffron Building Society will not agree to this. Why was Saffron Building Society even consulted?
Your lawyer being on the Saffron Building Society conveyancing panel is duty bound to inform Saffron Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Saffron Building Society then they would have to discontinue acting for you and Saffron Building Society.
How up to date is your database of lawyers on the Saffron Building Society conveyancing panel? Do Saffron Building Society send you an updated list?
The law firm practices themselves provide us confirmation that they are on the Saffron Building Society conveyancing panel as opposed to being supplied with a list from Saffron Building Society directly.
The firm that I appointed last week on my house acquisition in Brighton has without warning shut down. They were on acting for me because I needed a firm on the Saffron Building Society conveyancing panel and my previous lawyer was not. I gave them a cheque for £150 in advance. What are my options?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Saffron Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist
I had instructed online conveyancers based in Birmingham who are on the Saffron Building Society solicitor panel. They are now charging me a separate fee of £195 for dealing with the Saffron Building Society mortgage. Is this an additional conveyancing fee specified 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.
My fiance and I are in the throws of viewing flats and now considering a potential offer. Should I already have a conveyancer appointed at this stage? I intend to finance via a home loan with Saffron Building Society
It would be sensible to have your start your search soon rather than later. 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 estate agent. As you are getting a mortgage with Saffron Building Society , make sure you remember to check that your lawyer is on the Saffron Building Society conveyancing panel.
Saffron Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Saffron Building Society or your broker and complete any relevant paperwork. Saffron Building Society will tell you what documents they want. Saffron Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Saffron Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.