FAQs : The Skipton Building Society Conveyancing Panel from members of the public
For what reasons could a firm of solicitors be excluded from the Skipton Building Society solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been removed from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Skipton Building Society
I am purchasing a brand new apartment and my lawyer is advising me that she has to reveal incentives from the seller as her practice is on the Skipton Building Society conveyancing panel. The Estate Agents are hassling me to exchange contracts and my preference is not to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Skipton Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Skipton Building Society). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are the lawyers identified as being on the Skipton Building Society conveyancing panel, together with their details provided by Skipton Building Society?
The law firm practices themselves provide us confirmation that they are on the Skipton Building Society conveyancing panel as opposed to being supplied with a list from Skipton Building Society directly.
We're in Birmingham, First timers buying with a mortgage (lender is Skipton Building Society , but our lawyer is on the Skipton Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Skipton Building Society 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
The for formalities of my remortgage has taken place with a loan from Skipton Building Society. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Skipton Building Society. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the Skipton Building Society branches or the Customer Care Team at Skipton Building Society head office. Ordinarily complaints to Skipton Building Society are resolved very quickly. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service with full details of your complaint.
It is not clear whether my mortgage offer requires a lease extension . I have called into my local branch Skipton Building Society on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Skipton Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Skipton Building Society. Unless your lawyer obtains specific confirmation in writing that Skipton Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Skipton Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
My offer on house has been accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What should be my next step? At what point should I appy for the mortgage with Skipton Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Skipton Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Skipton Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.