Saffron Building Society Conveyancing Panel Information

No such training is arranged by the CML but they do arrange numerous general legal related conferences which are attended by firms on the Saffron Building Society conveyancing panel. We do intend to run specific lender focused seminars in the near future including a webinar on Saffron Building Society’s Part 2 requirements. Practitioners on the Saffron Building Society conveyancing panel will be invited. Further details will be communicated as part of the LENDERmonitor P2 change Notifications.

The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations. You have to try and take an objective view as to whether the Terms relating to the Saffron Building Society conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.

Assuming that your firm in is on the Saffron Building Society conveyancing panel and you are acting for them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Saffron Building Society are to lend, they may require indemnity insurance. In any event,you will need to check Saffron Building Society’s specific requirements. Notwithstanding whether Saffron Building Society will lend in such circumstances you still need to advise the borrower (unless you are acting for Saffron Building Society alone) as to the risks of buying a property with an insolvent or absentee freeholder.

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 get in touch with Saffron Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an explicit section for lenders to reveal who to contact to obtain standard documents. Saffron Building Society in their Part 2’s state: Always remember to disclose the firm’s Saffron Building Society conveyancing panel number.