Common questions asked concerning the Sainsburys Bank Conveyancing Panel from members of the public
The lawyer my fiance and I had intended to instruct on a purchase said he would charge more if my lender is because of their difficult processes! Am I likely to be frustrated using Sainsburys Bank? Is Sainsburys Bank conveyancing so much more difficult?
Sainsburys Bank conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Sainsburys Bank conveyancing panel. If they are not, this does add further risk of delay as Sainsburys Bank will appoint their own solicitors to look after their interest.
My wife and I intend to remortgage our apartment with Sainsburys Bank. We have a son approaching twenty who lives with us. The solicitor on the Sainsburys Bank conveyancing panel requested us to identify any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Sainsburys Bank conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Sainsburys Bank .This is solely used to protect the Sainsburys Bank if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Sainsburys Bank had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Are there any apps to help find a local solicitor on the Sainsburys Bank conveyancing panel? I have a car and am prepared to travel up to 25 miles to meet the conveyancer.
You can use the find a conveyancing panel tool 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 Sainsburys Bank solicitor panel.
I am purchasing a terraced house and getting a mortgage with Sainsburys Bank. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Sainsburys Bank 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 Sainsburys Bank conveyancing panel in your location.
Are all Conveyancing Quality Solicitors on the Sainsburys Bank conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
The for formalities of my purchase has taken place with a loan from Sainsburys Bank. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Sainsburys Bank. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first port of call should be one of the Sainsburys Bank branches or the Customer Services Department at Sainsburys Bank head office. In most cases complaints to Sainsburys Bank are resolved effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called Sainsburys Bank on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Sainsburys Bank conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Sainsburys Bank. Unless your lawyer obtains specific confirmation in writing that Sainsburys Bank will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Sainsburys Bank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.