Sainsbury's Bank Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Sainsbury's Bank and to assist in remaining on the Sainsbury's Bank Sainsburys Bank Conveyancing Panel.

Sainsbury's Bank Conveyancing Panel: Recently Asked Questions

A long standing client of my firm is purchasing a property for £750k in Liverpool with a mortgage over GBP 450,000. I am on the Sainsbury's Bank conveyancing panel but do Sainsbury's Bank have a separate approved panel when a mortgage is above 400,000?
Lexsure only know of two or three lenders that operate a distinct approved solicitors panel where the mortgage advance is over a certain level. You should nevertheless check directly with Sainsbury's Bank. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Sainsbury's Bank

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I have read a number of legal articles recently about firms being sued for non-compliance with Part 2 requirements . I am on the Sainsbury's Bank conveyancing panel can you tell me how Part 2 changes took place by Sainsbury's Bank during 2013?
During 2013, 0 sections of the UK Finance Lenders’ Handbook P2 were changed by Sainsbury's Bank. Some changes are more important than others but as a firm on the Sainsbury's Bank conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

I rarely receive a copy of a valuation from a lender these days. Does the extent of my Sainsbury's Bank conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with Sainsbury's Bank as the lender?
There are various requirements are to followed if you wish to comply with your lender client’s instructions as set out in the UK Finance Lenders’ Handbook. (a) You must take reasonable steps to verify that there are no discrepancies between the description of the property as valued and the title and other documents which a reasonably competent conveyancer should obtain, and, if there are, you must tell Sainsbury's Bank immediately. (b) You should take reasonable steps to verify that the assumptions stated by the valuer about the title (for example, its tenure, easements, boundaries and restrictions on its use) in the valuation and as stated in Sainsbury's Bank’s mortgage offer are correct. If they are not, please let Sainsbury's Bank know as soon as possible as it will be necessary for Sainsbury's Bank to check with the valuer whether the valuation needs to be revised. Sainsbury's Bank conveyancing panel solicitors are not expected to assume the role of valuer. Sainsbury's Bank are simply trying to ensure that the valuer has valued the property based on correct information. (c) Sainsbury's Bank recommend that you should advise the borrower that there may be defects in the property which are not revealed by the inspection carried out by their valuer and there may be omissions or inaccuracies in the report which do not matter to them as a lender but which would matter to the borrower. Sainsbury's Bank recommend that, if we send a copy of a valuation report that Sainsbury's Bank have obtained, you should also advise the borrower that the borrower should not rely on the report in deciding whether to proceed with the purchase and that he obtains his own more detailed report on the condition and value of the property, based on a fuller inspection such as a homebuyers survey or comprehensive survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Sainsbury's Bank or the borrower. You still need to comply with the UK Finance Lenders’ Handbook Requirement relating to valuation reports even if you don't receive one directly. Failure to comply not only runs the risk of facing a claim by the lender but also being removed from the Sainsbury's Bank conveyancing panel
In carrying out leasehold due diligence do Sainsbury's Bank conveyancing panel lawyers have to consider if there is an absentee freeholder?
Given that your practice in is on the Sainsbury's Bank conveyancing panel and you are acting for them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Sainsbury's Bank are to lend, they may require indemnity insurance. In any event,you will need to check Sainsbury's Bank’s specific requirements. Notwithstanding whether Sainsbury's Bank will lend in such circumstances you still need to advise the borrower (unless you are acting for Sainsbury's Bank alone) as to the risks of buying a property with an insolvent or absentee freeholder.
My partners and I run a small firm on the Sainsbury's Bank conveyancing panel. Do you have ideas as to how we can market our firm as conducting conveyancing in Hendon authorised to act forSainsbury's Bank?
6 borrowers attempt to locate a conveyancer on the Sainsbury's Bank panel every 4 weeks in Hendon. The lenderpanel directory service team who will show you how your firm can be found by those searching for conveyancing in Hendon.
Our firm had their Sainsbury's Bank panel membership suspended but we have not yet been given an explanation yet. I am completing a CQS renewal questionnaire what information do I need to report?
In the circumstances please clarify on the form what steps 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 cessation of your panel membership did you receive any letters or calls from the lender advising you as to their reasons?
Our practice is on the Sainsbury's Bank conveyancing panel and due to complete a purchase within the next few weeks. My file does not contain a Legal Charge for the client to execute. Who do I contact at Sainsbury's Bank to request substitute deeds?
You should contact Sainsbury's Bank to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an express question for banks to cite who to contact to obtain standard documents. Sainsbury's Bank in their Part 2’s state:
Always remember to disclose your Sainsbury's Bank conveyancing panel number.

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Average number of days to register title including a charge in favour of Sainsbury's Bank
This information relates to purchase only and not remortgages.
YearDays*
2024 [no data]
2023 [no data]
2022 [no data]
2021 [no data]
2020 [no data]
2019 31.2
* Data aggregated from sources including COMPLETIONmonitor