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

Am I obliged, being on the Saffron Building Society conveyancing panel, to carry out a LMO4 search?
Saffron Building Society make no specific obligation to carry out any of the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must ensure that any other searches which may be appropriate to the particular property, taking into account its locality and other features are carried out’.

Remember that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Saffron Building Society are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the borrower.

Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Does your ROT and Ts and Cs cover this?

A leading search supplier lists over 72 conveyancing searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location call your search provider or call one of the leading search companies such as STL.

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Can you give me an example of some of the reports available via COMPLETIONmonitor to support my application to be on the Saffron Building Society conveyancing panel ?
There are many reports available, five of which are as follows:
  • Buy to Let transactions
  • Average time frame to send deeds to the lender (calculated from completion date or title registration)
  • Number of conveyancing cases by lender
  • 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)
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:
  • 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.)
  • 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.
  • 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
  • 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.
Are there any specific Saffron Building Society conveyancing panel obligations in connection with Transfer of Equity Conveyancing?
Saffron Building Society approved solicitors are bound by the Part II instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if Saffron Building Society require, the deed of covenant on their behalf. You will need to check Saffron Building Society CML Part 2 conditions to see if Saffron Building Society have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the Saffron Building Society conveyancing panel
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.
Marsh’s PII renewal form asks if my practice had been removed off any lender panels in the last year. I recently found out that the firm is no longer on the Saffron Building Society conveyancing panel? Is this likely to impact 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.
My firm is listed on the Saffron Building Society conveyancing panel and all set to complete a remortgage shortly. I can not locate a Legal Charge for the client to sign. Who do I contact at Saffron Building Society to get a duplicate Deed?
You need to contact Saffron Building Society to obtain standard documents. The CML Handbook contains an individual section for lenders to establish who to contact to obtain standard documents. Saffron Building Society in their Part 2’s state:
Don’t forget to quote the firm’s Saffron Building Society solicitors panel number.

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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