Skipton Building Society Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers such as AmTrust. COMPLETIONmonitor is a unique risk management tool.

This software assists the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Skipton Building Society’s changes. Notwithstanding that using the tool is not a prerequisite for Skipton Building Society , demonstrating you can remain up to date with Skipton Building Society’s Handbook requirements is a helpful support to your panel application and, just as importantly, protect your firm’s panel standing.

COMPLETIONmonitor generates real-time alerts, automatically produces compliance and CQS reports, and will increase your firm's efficiency. In addition it is simply to use, cost-effective and, for many firms, leads to reduced PII premiums.

Find a Law Firm approved by Skipton Building Society

Banks and building societies frequently change their requirements. The UK Finance Lenders’ Handbook requirements from Skipton Building Society are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes

Since 2008, Skipton Building Society has made 356 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 7.7 days. In total, 62% of the sections of P2 of the UK Finance Lenders’ Handbook for Skipton Building Society have been changed since 15/12/2008.

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Recent Changes Include

# Date Assoc. Changes Related To
6.6.1 07/06/2019 CML
6.7.1 07/06/2019 CML
6.8.1 07/06/2019 CML Adoption of Road or Sewer Indemnity Insurance
6.9.1 07/06/2019 CML Unknown Rights and Easements Indemnity Insurance
6.7.1 04/10/2018 CML
6.10.2 02/08/2018 CML
6.7.1 28/03/2018 CML
5.14.9 16/03/2018 CML
6.7.1 29/06/2017 CML
7.3 19/12/2016 CML

Last update 04/04/2020

Skipton Building Society Conveyancing Panel : Questions and Answers from members of the public

It has come to my attention via my IFA that my the law firm I have appointed is not on the Skipton Building Society Conveyancing panel. How can I be certain that this is indeed the case?
You need to contact your conveyancer. You lawyer should advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the the approved Skipton Building Society solicitor panel.
I am due to move into my new home next Monday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as he says that he has to check this in has capacity as lawyer for Skipton Building Society. What risks do Skipton Building Society expect the insurance to cover?
Any lawyer on the Skipton Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Skipton Building Society’s Part 2 requirements of the CML Handbook (last updated on Skipton Building Society). Being on the Skipton Building Society conveyancing panel your lawyer is expect to follow these instructions.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I understood that this was a condition of being on the Skipton Building Society solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
We're in Wales, First time buyers buying with a mortgage (lender is Skipton Building Society , but our solicitor 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
I have a mortgage with Skipton Building Society. My father retired last week and wants to pay off the mortgage left on the property. After Skipton Building Society is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Skipton Building Society conveyancing panel? I do not intend to live at the property once the Skipton Building Society mortgage is discharged.
You will need a solicitor but they need not be on the Skipton Building Society conveyancing panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. As the property is your main residence you need not pay CGT but you should speak with your accountants in any event.
The for formalities of my remortgage has taken place with a mortgage from Skipton Building Society. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about Skipton Building Society. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first point of contact should be one of the Skipton Building Society branches or the Customer Services Team at Skipton Building Society head office. Ordinarily complaints to Skipton Building Society are sorted out effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the Financial Ombudsman Service with full details of your complaint.
I was told two weeks ago that my mortgage has been agreed to by Skipton Building Society. Is it usual for Skipton Building Society to only issue the offer once my solicitor is approved on their conveyancing panel?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Skipton Building Society to deal with your lawyers application to be on the Skipton Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.