Sainsburys Bank Solicitor Panel Recently Asked Questions from members of the public
I am selling my flat and the estate agent has just texted me to warn that the buyers are changing their solicitor. I am told that this is due to the fact that Sainsburys Bank will only engage with property lawyers on their approved list. Why would a leading lender only deal with specific solicitors?
UK lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks point to the increase in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
My fiance and I intend to remortgage our maisonette with Sainsburys Bank. We have a son approaching twenty who lives with us. The solicitor on the Sainsburys Bank conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have two concerns (1) Is this document specific to the Sainsburys Bank conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this giving up his rights 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.
I am planning to acquire a property and require a conveyancing solicitor in Liverpool who is on the Sainsburys Bank conveyancing. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Sainsburys Bank . We don’t recommend any particular firm.
I am attempting to get my ex-wife taken off the mortgage deeds. Can Sainsburys Bank really insist on which solicitor I can or can not retain?
You can use any solicitor you like but Sainsburys Bank then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Sainsburys Bank solicitors panel
Are all Conveyancing Quality Solicitors on the Sainsburys Bank conveyancing panel?
Some major lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS membership however is 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 remain on their approved list of conveyancing solicitors.
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Sainsburys Bank be concerned
Given that you are obtaining a mortgage with Sainsburys Bank your lawyer must to check the Sainsburys Bank conveyancing instructions contained in the Part of CML Handbook for Sainsburys Bank . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Sainsburys Bank where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
After shopping around on the internet I have found a solicitor having made sure that they are on the Sainsburys Bank conveyancing panel. Does my lawyer arrange the survey of the property?
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I've read lots of house buying,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Sainsburys Bank conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Sainsburys Bank will need an independent valuation of the property. Your lawyer will not arrange this. Usually Sainsburys Bank will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Sainsburys Bank you could contact your them to see if they have a list of approved surveyors.