Saffron Building Society Conveyancing Panel Information

The CML, together with Saffron Building Society and other members developed a standard set of requirements where a conveyancer is acting for a lender such as Saffron Building Society alone in a residential conveyancing matter. These obligations are contained at Part III of the UK Finance Lenders’ Handbook and are to be followed together with Part I and II. The CML have published an example requirements letter to the borrower’s conveyancer for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel solicitor.

The requirements to join the Saffron Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

As is the case with the Law Society the CLC has begun dialogue 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. It is likely that that the CLC have been in touch with lenders such as Saffron Building Society in the recent past.

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 need to get in touch with Saffron Building Society to obtain standard documents. The CML Handbook includes an explicit 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 quote your Saffron Building Society solicitors panel reference.