Sainsbury's Bank Conveyancing Panel Information

Paragraph 16.2.1 of the UK Finance Lenders’ Handbook relevant to a solicitor on the Sainsbury's Bank conveyancing panel reads ‘Our mortgage secures further advances. Consequently, when a further advance is required for alterations or improvements to the property we will not normally instruct a member of our conveyancing panel but if you are instructed the appropriate provisions of this Handbook will apply’.

Although not necessarily published, lenders have varying criteria . We do not hold specific requirements relating to the questions raised as part of the application to be on the Sainsbury's Bank conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Whether any lender has ever made a claim against the firm’s PII cover

Whether the firm is able to operate in other jurisdictions

List of all those staff who work within the conveyancing team

Automated alerting to inform lenders when there is a fundamental change to the firm (e.g. change of ownership)

Full disciplinary history for each conveyancing solicitor

SRA or equivalent regulator registration number where applicable

List of all Licensed Conveyancers within firm

Structure of firm and, where applicable, its group

conveyancer client account(s) details

Full complaints history for each conveyancing solicitor

The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Sainsbury's Bank as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Sainsbury's Bank we suggest that you call Sainsbury's Bank to check the position.

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.

In this situation please explain on the form what steps you have taken to find out the reasons behind cancellation of your Sainsbury's Bank panel status. In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?

You would be advised to contact Sainsbury's Bank to obtain standard documents. The The Council of Mortgage Lenders Handbook has a specific section for banks to reveal who to contact to obtain standard documents. Sainsbury's Bank in their Part 2’s state: Always remember to disclose the firm’s Sainsbury's Bank solicitors panel number.