Sainsbury's Bank Conveyancing Panel Information

The Council of Mortgage Lender requirements of Sainsbury's Bank are silent on this. Most mortgage companies address the question of file retention via their Terms of panel appointment where they generally provide that for evidential purposes, the firm must keep the file for a minimum six years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Sainsbury's Bank’s interest. To be absolutely sure of Sainsbury's Bank requirements in this regard please check the Terms and Conditions of Sainsbury's Bank’s conveyancing panel acceptance.

With lenders and conveyancing firms working so closely with one another it is surprising that there has not been greater demand for the introduction of a bit of transparency regarding not just the figures for the Sainsbury's Bank conveyancing panel but for all mortgage panel listings

In this situation please clarify on the form what action you have taken to discover the reasons behind cancellation of your Sainsbury's Bank panel membership. In particular please provide details if you have received communications from the lender. E.G. before revocation of your panel membership did you receive any letters or calls from the lender putting you on notice?

You would be advised to get in touch with Sainsbury's Bank to obtain standard documents. The CML Handbook includes a specific inquiry for lenders to enumerate who to contact to obtain standard documents. Sainsbury's Bank in their Part 2’s state: You will need to disclose your Sainsbury's Bank solicitors panel number.