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Ready to buy a new home? Failing to check that a lawyer is on the Saffron BS list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Saffron Building Society Conveyancing Panel? How can my firm be reinstated onto the Saffron Building Society Conveyancing Panel?Find an Approved Solicitor on the Saffron Building Society Conveyancing Panel
Saffron Building Society Conveyancing Panel : Questions and Answers
My financial adviser has asked me for my solicitor’s panel member for the Saffron Building Society conveyancing panel. Can you suggest how I find this out. I have called my local Saffron Building Society branch but they have not responded to me.
You are best placed to get this information from your conveyancing lawyer. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Saffron Building Society.
My husband and I are refinancing our flat with Saffron Building Society. We have a son 19 who lives with us. The solicitor on the Saffron Building Society conveyancing panel has asked us to disclose any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Saffron Building Society conveyancing panel as he never had to sign this form when we purchased 4 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 Saffron Building Society .This is solely used to protect the Saffron Building Society 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 Saffron Building Society 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.
How do I search for a local solicitor on the Saffron Building Society conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the solicitor.
Feel free to make use of the find a conveyancing panel tool on this page. 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.
We're in Birmingham, FTBs purchasing with a mortgage (lender is Saffron Building Society , but our lawyer is on the Saffron Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Saffron Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Are all Conveyancing Quality Solicitors on the Saffron Building Society conveyancing panel?
It is true that some banks and building societies now use CQS 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 panels.
When it comes to mortgage companies such as Saffron Building Society do lawyers have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I can not work out if my mortgage offer requires a lease extension . I have called into my local branch Saffron Building Society on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Saffron Building Society 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 Saffron Building Society. Unless your lawyer obtains specific confirmation in writing that Saffron Building Society 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 Saffron Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.