Q and A’s regarding the Skipton Building Society Solicitor Panel
from members of the public
My partner and I are novices when it comes to buying a property. Within the last couple of days our solicitor has forwarded the sale agreement to sign with a detailed report with a view to exchanging next week. Skipton Building Society have this evening contacted us to inform me that they have now hit a problem as our solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme.
Your solicitors should contact Skipton Building Society and see if they can apply for membership of the Skipton Building Society conveyancing panel, but if that is not viable Skipton Building Society will instruct their own lawyers to represent them. You don't have to instruct a firm on the Skipton Building Society conveyancing panel and you may continue to use your own solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
My partner and I intend to remortgage our apartment with Skipton Building Society. We have a son 18 who lives with us. The solicitor on the Skipton Building Society conveyancing panel has asked us to disclose any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this document specific to the Skipton Building Society conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Skipton Building Society 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 Skipton Building Society .This is solely used to protect the Skipton Building Society 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 Skipton Building Society 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.
I am purchasing a property and require a conveyancing solicitor in who is on the Skipton Building Society conveyancing. Could you point me in the right direction as regards a firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Skipton Building Society . We don’t recommend any particular firm.
I was due to move into my flat two days ago. My solicitor is on the Skipton Building Society conveyancing panel but has moved offices 8 weeks ago and had not advised Skipton Building Society of their new address. Skipton Building Society is now refusing to release my funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Skipton Building Society branch or your mortgage broker to see if they can help.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Skipton Building Society conveyancing panel?
It is true that some lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
is it true that all conveyancing solicitors on the Skipton Building Society conveyancing panel overseen by the SRA?
As a firm of solicitors, in order to be on the Skipton Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
My husband and I are purchasing a flat in Hendon. Conveyancing solicitors in Hendon are preferred to begiven the go-ahead. My colleagueadvised that we enquire that the property lawyer in Hendon is on the Skipton Building Society list of approved conveyancing firms. Is this really necessary?
Not all Hendon conveyancing practices are on the Skipton Building Society conveyancing panel. Click here to find a
Hendon conveyancing lawyer on the on the Skipton Building Society list of approved conveyancing firms.
