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Saffron Building Society Conveyancing Panel: Recently Asked Questions
Do Saffron Building Society or the Council of Mortgage Lenders run CPD Courses for the
Saffron Building Society approved conveyancing panel in the same way that CQS run CPD Courses for accredited firms?
The Council of Mortgage Lenders (or the BSA) do not involve themselves in training but they do arrange numerous useful conveyancing related conferences which are attended by firms on the Saffron Building Society conveyancing panel. Lexsure intend to run specific lender focused seminars in the near future including a webinar on Saffron Building Society’s Part 2 requirements. Solicitors on the Saffron Building Society conveyancing panel will be invited. Information about the webinar will be communicated as part of the LENDERmonitor Alerts.
Are the CML planning on creating a online directory search tool with a view
to to identify firms on the
Saffron Building Society conveyancing panel?
Lexsure has not been advised of any intention on the part of the CML to develop such a register.
Can you give me an example of some of the reports available via COMPLETIONmonitor to support my appeal to be reinstated on the Saffron Building Society solicitor panel?
There are many reports available, five of which are as follows:
- Number of conveyancing cases by lender
- Buy to Let transactions
- Average time frame to register charges at the Land Registry
- The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)
- Average time frame to send deeds to the lender (calculated from completion date or title registration)
My conveyancing assistant has resigned unexpectedly.
I urgently need to prioritise making sure that charges are registered. That said, how quickly do I need to send deeds to
Saffron Building Society once the charge is registered before my firm runs the risk of being suspended off the conveyancing panel for Saffron Building Society?
Saffron Building Society will likely expect the deeds to be sent to them within 10 days of you receiving the TID (unless their specific P2 requirements specifically state that they you are not to send them anything). Most COTs refer to complying with the Certificate of Title referred to in IB (3.7) of the SRA Code of Conduct 2011, published by the Law Society which states that you ‘will despatch to you such deeds and documents relating to the Property as you require with a list of them in the form prescribed by you within ten working days of receipt by us of the title information document from the Land Registry’ As to whether the lender will suspend your panel status this very much varies according to the lender’s own internal policies The more cases you have the more risk you face. Some lenders may take action if there records show that the deeds are outstanding for more than 3 matters. The fact is that if you keep within the time frame then you will have more chance of remaining on the
Saffron Building Society conveyancing panel.
Prime Professional’s PII renewal form asks if my firm had been excluded from any bank panels in the last 12 months.
I just found out that the firm is no longer on the
Saffron Building Society solicitor panel? Will that effect my PII premium?
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.
My firm is listed on the
Saffron Building Society
conveyancing panel and all set to complete a remortgage within the next few weeks. My papers do not include a Mortgage Deed for the client to sign.
Who do I contact at Saffron Building Society to get a duplicate Deed?
You would be advised to get in touch with Saffron Building Society
to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates a specific inquiry for banks to cite who to contact to obtain standard documents.
Saffron Building Society in their Part 2’s state:
It is likely that you will need to disclose your Saffron Building Society solicitors panel reference.
Find a Lawyer on the Saffron Building Society Solicitors Panel
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Average number of days to register title including a charge in favour of Saffron Building Society
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Saffron Building Society Firms
- Draft Report on Title precedent for Saffron Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Saffron Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Saffron Building Society lender panel
- Buy-to-Let help for Saffron Building Society
- Consent-to-Let help for Saffron Building Society
- Contractor Mortgages with Saffron Building Society
