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approved by Sainsburys
Ready to buy a new home? Failing to check that a lawyer is on the Sainsburys list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?Is my firm on the Sainsburys Bank Conveyancing Panel? How does my firm apply to be on the Sainsburys Bank Conveyancing Panel? How can my firm be reinstated onto the Sainsburys Bank Conveyancing Panel?
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Sainsburys Bank Conveyancing Panel : Questions and Answers
For what reasons would a law firm be excluded from the Sainsburys Bank solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been excluded from a lender panel. The most common reasons in order are :
- Low volume of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Sainsburys Bank
My solicitor has spotted a difference when comparing the surveyor’s assumptions in Sainsburys Bank’s home valuation survey and what is revealed within the title deeds. My lawyer says that as he is on the Sainsburys Bank conveyancing panel he is duty bound to check that the bank is OK with this discrepancy and is content go ahead. Is my lawyer’s course or action correct?
A precondition 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 do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Sainsburys Bank conveyancing panel. My lawyer has said that they are on the Sainsburys Bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Sainsburys Bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Sainsburys Bank solicitor panel.
Can you clarify what the consequences are if my solicitor is expelled from the Sainsburys Bank Conveyancing panel before completion?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I'm in the throws of viewing apartments and now considering a potential offer. Is it best to have a conveyancer on ‘stand by’? I intend to finance via a home loan with Sainsburys Bank
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Sainsburys Bank , make sure you remember to check that your lawyer is on the Sainsburys Bank conveyancing panel.
The mortgage over my property is with Sainsburys Bank. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat 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?
You must advise Sainsburys Bank in advance of letting out your property as this is likely to be a breach of Sainsburys Bank’s mortgage conditions. It may be that Sainsburys Bank will permit you to let 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. It should not be necessary to do this via a Sainsburys Bank conveyancing panel lawyer.
My ex -wife’s name is on the Sainsburys Bank mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Sainsburys Bank mortgage in order to sell?
As regards the Sainsburys Bank mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Sainsburys Bank in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.