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.
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Sainsbury's Bank Solicitor Panel: Recently Asked Questions
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.
Sainsbury's Bank 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.
Check with your COLP but a firm should not send the complete conveyancing file without the buyer client’s express consent – and if he is in arrears with the lender she is hardly likely to agree. However, if the lender can establish a prima facie case of fraud, then you may be under an obligation to disclose the whole file.
The emerging convention is that lenders are including an authority to disclose in loan application forms to counter this problem. Mortgage Express v Sawali,  EWHC 3054 (Ch) indicates that such provisions are valid. Please click here for more information about that case.
- Average time frame to send deeds to the lender (calculated from completion date or title registration)
- The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)
- Analysis as to the nature of clients (e.g.existing/new/seen in person)
- Disclosure/Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data
- Buy to Let transactions
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