Sainsbury's Bank Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers such as AmTrust. It is a unique risk mitigation tool.

This system facilitates the way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with notifications given on Sainsbury's Bank’s changes. Notwithstanding that using the tool is not a prerequisite for Sainsbury's Bank , demonstrating you can remain up to date with Sainsbury's Bank’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, safeguard your panel standing.

The software creates real-time alerts, automatically produces COLP and CQS reports, and will enhance your firm's efficiency. It is also simply to use, cost-effective and, for some firms, leads to reduced PII premiums.

Find a Law Firm approved by Sainsbury's Bank

Lenders often vary their requirements. The UK Finance Lenders’ Handbook requirements from Sainsbury's Bank are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes

Since 2008, Sainsbury's Bank has made 121 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 22.6 days. In total, 57% of the sections of P2 of the UK Finance Lenders’ Handbook for Sainsbury's Bank have been changed since 15/12/2008.

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Recent Changes Include

# Date Assoc. Changes Related To
16.1.1 31/05/2017 CML
16.3.7b 31/05/2017 CML
17.1.1 31/05/2017 CML
4.3 31/05/2017 CML
5.14.10 31/05/2017 CML
5.4.6 31/05/2017 CML Local Search Indemnity Insurance
6.10.2 31/05/2017 CML
6.13.1 31/05/2017 CML
6.4.4 31/05/2017 CML
6.5.1 31/05/2017 CML

Last update 17/06/2019

Examples of recent questions relating to the Sainsburys Bank Conveyancing Panel from members of the public

My fiance and I are FTBs. Within the 48 hours our property lawyer has forwarded the sale agreement to sign with a detailed report with the expectation that exchange is imminent. Sainsburys Bank have this evening contacted us to inform me that there is now an issue as our solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit 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 Quality Scheme. Your property lawyers should contact Sainsburys Bank and see if they can apply for membership of the Sainsburys Bank conveyancing panel, but if that is not viable Sainsburys Bank will instruct their own solicitors to act. You don't have to instruct a firm on the Sainsburys Bank 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.

Please assist. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Sainsburys Bank was date stamped random date and we have agreed a date for me to move into the property on 6. My lawyer says that as she is on the Sainsburys Bank conveyancing panel she needs to reorder the searches as they are no longer valid.
One of the many conditions to being on the Sainsburys Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Sainsburys Bank)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Sainsburys Bank.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the Sainsburys Bank conveyancing panel solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Bristol so that I can pop in to their offices if necessary.
As opposed to ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Bristol .
I am remortgaging my flat does my lawyer have to be on the Sainsburys Bank Solicitor panel?
There is nothing to stop you using your solicitor but Sainsburys Bank will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Do the majority of lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Sainsburys Bank conveyancing panel requirements are different to Sainsburys Bank’s conveyancing panel criteria.
The mortgage over my property is with Sainsburys Bank. Conveyancing has been completed some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Sainsburys Bank?
Sainsburys Bank must be informed of your intention in advance of renting your property as this is likely to be a breach of Sainsburys Bank’s mortgage conditions. It may be that Sainsburys Bank will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Sainsburys Bank directly. You need not do this via a Sainsburys Bank conveyancing panel lawyer.
We are are acquiring a garden flat in Hendon. Conveyancing solicitors in Hendon are about to beinstructed. My brother-in-lawrecommended that we double-check that the conveyancer in Hendon is on the Sainsburys Bank solicitors panel. Is this really necessary?
It is not that case that all Hendon conveyancing firms are on the Sainsburys Bank conveyancing panel. 7 people a month use our search tool to find a Hendon conveyancing solicitor on the on the Sainsburys Bank list of approved conveyancing firms.