Q and A’s regarding the Saffron Building Society Solicitor Panel from members of the public
My Solicitor has never been on on the Saffron Building Society Solicitor Panel. Is it possible for me to continue with my preferred solicitor notwithstanding that they are excluded from the Saffron Building Society approved list?
You will need to have a conveyancer complete the legal work required when you take out a Saffron Building Society mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Saffron Building Society conveyancing panel additional costs will be incurred as separate legal representation will be required by Saffron Building Society. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
Our conveyancer has identified a defect with the lease for the apartment we are purchasing. The other side have put forward defective title insurance as a solution. We are content with insurance and will pay for it. Our lawyer has advised 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.
What tools are available to 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 lawyer.
Feel free to make use of 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 refinancing my home does my lawyer have to be on the Saffron Building Society Solicitor panel?
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 greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I previously instructed online solicitors located in Birmingham who are on the Saffron Building Society solicitor panel. They have just invoiced me a separate fee of £150 for the legal aspects of the Saffron Building Society mortgage. Is this a supplemental 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 and others do not.
We were going to get a DIP from Saffron Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Saffron Building Society recommend a solicitor on the Saffron Building Society conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Saffron Building Society conveyancing panel. The solicitor represents both you and the Saffron Building Society through the process.
My ex -wife’s name is on the Saffron Building Society mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Saffron Building Society mortgage in order to sell?
In terms of the Saffron Building Society mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Saffron Building Society in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.