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Sainsburys Bank Solicitor Panel Recently Asked Questions
My financial adviser has asked me for my solicitor’s panel member for the Sainsburys Bank conveyancing panel. How do I discover this. I have called my local Sainsburys Bank branch but they have not got back to me yet.
You are best placed to get this information from your conveyancing lawyer. They should have a central record lender panel numbers including the Sainsburys Bank panel reference.
My partner and I are refinancing our flat with Sainsburys Bank. We have a son 19 who lives with us. The solicitor on the Sainsburys Bank conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have two questions (1) Is this document specific to the Sainsburys Bank conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Sainsburys Bank conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Sainsburys Bank .This is solely used to protect the Sainsburys Bank if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Sainsburys Bank had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Is it necessary during the course of the conveyancing process to visit the offices of the Sainsburys Bank conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Manchester
so that I can pop in to their offices when needed.
Whereas this was necessary twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Manchester
.
We're in Birmingham, First time buyers buying with a mortgage (lender is Sainsburys Bank , but our lawyer is on the Sainsburys Bank conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Sainsburys Bank conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
I had instructed online conveyancers based in Bristol who are on the Sainsburys Bank solicitor panel. They are now charging me a separate fee of £195 for the legal aspects of the Sainsburys Bank mortgage. Is this a supplemental conveyancing fee set by Sainsburys Bank?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Sainsburys Bank but by your lawyers. Some firms on the Sainsburys Bank will charge an ‘acting for lender’ fee and others do not.
Last month we had a mortgage agreed in principle with Sainsburys Bank. Solicitors have been chosen? What is the average time that one could expect to receive a mortgage offer from Sainsburys Bank?
There is no definitive answer here. Have Sainsburys Bank conducted the valuation? Have you advised Sainsburys Bank as your lawyers details and checked that your lawyer is on the Sainsburys Bank conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
After much negotiation I have agreed a price on an apartment. My financial adviser suggested a solicitor I paid an upfront payment of 150. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Sainsburys Bank conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Sainsburys Bank panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
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