Saffron Building Society Conveyancing Panel : Questions and Answers from members of the public
For what reasons would a law firm 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 removed 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
Our conveyancer has discovered a problem with the lease for the flat we are buying. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer 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?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Saffron Building Society are the client. 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). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Saffron Building Society can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I understood that this was a condition of being on the Saffron Building Society solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I am buying a right to buy flat and getting a mortgage with Saffron Building Society. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Saffron Building Society conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Saffron Building Society conveyancing panel in your location.
When it comes to mortgage companies such as Saffron Building Society do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
The for formalities of my purchase has taken place with a mortgage from Saffron Building Society. Conveyancing was of an acceptable standard but I would like to complain about Saffron Building Society. How do I make a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the Saffron Building Society branches or the Customer Services Team at Saffron Building Society head office. In most cases complaints to Saffron Building Society are resolved very quickly. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service with full details of your complaint.
Can I register a complaint to Saffron Building Society about the lawyers being on the Saffron Building Society conveyancing panel?
Complaining to Saffron Building Society about their conveyancing panel is unlikely to yield much of a response. Every solicitor firm and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
