Saffron Building Society Conveyancing Panel Information

The requirements to join the Saffron Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

Lexsure only know of a couple of lenders that operate a distinct approved solicitors panel where the mortgage advance is over a certain threshold. You should nevertheless check directly with Saffron Building Society. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Saffron Building Society

The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Saffron Building Society as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Saffron Building Society we suggest that you call Saffron Building Society to check the position.

In the same way that there is a unique Saffron Building Society conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

The best placed professionals to answer this question are your insurance brokers. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Saffron Building Society solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You would be advised to contact Saffron Building Society to obtain standard documents. The CML Handbook has an express inquiry for banks to enumerate who to contact to obtain standard documents. Saffron Building Society in their Part 2’s state: Don’t forget to quote the firm’s Saffron Building Society conveyancing panel reference.