Saffron Building Society Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Saffron Building Society and to assist in remaining on the Saffron Building Society Solicitors Panel.

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Saffron Building Society Conveyancing Panel: Recently Asked Questions

Are Saffron Building Society Conveyancing panel solicitors under an obligation to disclose incentives?

Saffron Building Society’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements

Do Saffron Building Society or the CML run professional training Courses for the Saffron Building Society approved conveyancing panel in the same way that CQS run CPD Courses for accredited firms?

This not something that the CML would traditionally get involved with but they do provided a number of general conveyancing related conferences which are attended by firms on the Saffron Building Society conveyancing panel. It is our intention to run specific lender focused seminars in the coming months including a webinar on Saffron Building Society’s Part 2 obligations. Solicitors on the Saffron Building Society conveyancing panel will be invited. Information about the webinar will be made available as part of the LENDERmonitor Alerts.

What is the CLC doing to ensure that licensed conveyancers remain on lender conveyancing panels?

As is the case with the Law Society the CLC has initiated discussions with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Saffron Building Society as well as the BSA.

Are there conditions,outside the CML Part 2 requirements, that a firm should be aware of when on the Saffron Building Society conveyancing panel?

In order to be on the Saffron Building Society conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Saffron Building Society) are as follows:

That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.
To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds.)
To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.
Without prejudice to your obligation to comply in full with the Safeguards provisions in the CML Lenders’ Handbook, to report to us as soon as possible any suspicion that you have about the genuineness of any transaction in any respect.

My post-completion clerk has left my firm 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.

Lockton’s PII renewal form asks if my firm had been removed off any bank panels in the last year. I recently discovered that the firm is no longer on the Saffron Building Society solicitor panel? Is this likely to impact my insurance?

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 due to complete a purchase within the next week. My file does not contain a Mortgage Deed for the client to execute. 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 CML Handbook includes an individual inquiry for lenders to enumerate who to contact to obtain standard documents. Saffron Building Society in their Part 2’s state:

Don’t forget to disclose the firm’s Saffron Building Society conveyancing panel number.

Find a Lawyer on the Saffron Building Society Solicitors Panel

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*
2024	[no data]
2023	[no data]
2022	[no data]
2021	[no data]
2020	[no data]
2019	[no data]

* Data aggregated from sources including COMPLETIONmonitor

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