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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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Common questions asked concerning the Sainsburys Bank Conveyancing Panel
Can you please explain the reason why all solicitors are not on the Sainsburys Bank Solicitor panel?
Sainsburys Bank and other lenders tend to restrict either the type or the number of conveyancing firms on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Sainsburys Bank have no responsibility for the quality of advice provided by any member of Sainsburys Bank Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
We are nearing an exchange and my parents having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Sainsburys Bank. I am advised that, being on the Sainsburys Bank conveyancing panel and acting on their behalf he must inform Sainsburys Bank if the balance of the mortgage advance is not just from me. I informed the bank about my parent’s contribution when I applied for the home loan so is it really necessary for him to raise this?
Your lawyer is obliged to check with Sainsburys Bank to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Sainsburys Bank if you agree, failing which, your lawyer must cease to continue acting.
I am searching for conveyancing quotes online. Can I be confident that all the law firms that are listed on your site are on the Sainsburys Bank conveyancing panel?
The law firms on our directory have advised us that they are on the Sainsburys Bank panel and agreed to advise us to take down their listing in the event of removal off of the Sainsburys Bank panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Sainsburys Bank conveyancing panel is not accurate.
The solicitors that I appointed last week on my house acquisition in Brighton has without warning closed. They were on acting for me because I had to have a solicitor on the Sainsburys Bank conveyancing panel and my previous lawyer was not. I gave my credit card details for them to take £175 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Sainsburys Bank conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist
I am buying a property where the roof has a solar panel. Sainsburys Bank have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is 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. The CML are developing guidance for Northern Ireland and Scotland.
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 telephoned Sainsburys Bank on numerous occasions and told it wasn't a problem 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
As long as the conveyancer is on the Sainsburys Bank panel she or he must comply with the CML Handbook 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.
Intending to buy a house with a mortgage with Sainsburys Bank. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Sainsburys Bank conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Sainsburys Bank conveyancing panel