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.

Saffron Building Society Solicitor Panel: Recently Asked Questions

Can my practice register a complaint to the CML about being removed from the Saffron Building Society conveyancing panel?
The CML is not a regulator and therefore will not investigate grievances against lenders. You can of course contact Lexsure to see if we can help.

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A recent SRA survey reveals that 76% of solicitors have been removed from a lender conveyancing panel. Saffron Building Society and other lenders have restricted their panel over the years. Why?
In operating open conveyancing panels, lenders such as Saffron Building Society face a number of fraud and negligence risks. While there is no authoritative source of data on lender exposure to solicitor–led mortgage fraud, anecdotal evidence from lenders indicates exposure on individual cases are often in the millions of pounds. The National Fraud Authority estimates that £1bn per year is lost in mortgage -related frauds in total, which is seen as a conservative estimate.

These risks are exacerbated by the lack of a comprehensive set of data on all conveyancing firms (which, for the avoidance of doubt, would include solicitors and conveyancers across the UK) which is in a readily accessible format. Currently, lenders vet the suitability of their panel firms against a variety of disparate, incomplete and potentially inaccurate sets of information. One top 5 lender pointed out to us that it is almost impossible to track individual fraudsters who move from firm to firm, especially where they are no longer registered or no longer hold a valid practicing certificate.

Saffron Building Society and other lenders are in varying stages of reviewing their approach to vetting firms on their conveyancing panels, to ensure their ongoing exposure to unsuitable firms is reduced. There is also regulatory impetus on lenders to ensure that they have satisfactory oversight of their third party panels, including a due-diligence process.

My PI renewal application this year contained the following question: ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the UK Finance Lenders’ Handbook?’ My firm is on a number of approved panels including the Saffron Building Society conveyancing panel. We have Terms and Conditions of appointment which we have to follow. Am I supposed to mention these Terms ?
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.
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.
Were are a Hendon-based firm on the Saffron Building Society conveyancing panel. Do you have ideas as to how we can market our firm as conducting conveyancing in Hendon authorised to act forSaffron Building Society?
8 potential conveyancing clients attempt to locate a solicitor on the Saffron Building Society panel on a monthly basis in Hendon. Feel free to contact the Lexsure team who will tell how your firm can be identified by those searching for conveyancing in Hendon.
JLT’s PI Insurance renewal form questions if my practice had been removed off any bank panels in the last year. I just discovered that the firm is no longer on the Saffron Building Society conveyancing panel? Is this likely to effect my PII cover?
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.
I am on the Saffron Building Society conveyancing panel and scheduled to complete a purchase within the next week. My papers do not include a Legal Charge for the client to sign. Who do I contact at Saffron Building Society to obtain duplicate documents?
You should communicate with Saffron Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an express question for banks to enumerate who to contact to obtain standard documents. Saffron Building Society in their Part 2’s state:
It helps to quote your Saffron Building Society conveyancing panel reference.

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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.
YearDays*
2025 [no data]
2024 [no data]
2023 [no data]
2022 [no data]
2021 [no data]
2020 [no data]
* Data aggregated from sources including COMPLETIONmonitor