Skipton Building Society Conveyancing Panel Recently Asked Questions from members of the public
We are buying a 2 bedroom apartment in Leeds with a mortgage from Skipton Building Society. We would like to retain our lawyer but Skipton Building Society says she’s not on their "panel". It seems we have little choice but to instruct one of the Skipton Building Society panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Skipton Building Society use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Skipton Building Society conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Skipton Building Society
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Skipton Building Society will not agree to this. Why was Skipton Building Society even consulted?
Your lawyer being on the Skipton Building Society conveyancing panel is duty bound to inform Skipton Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Skipton Building Society then they would have to discontinue acting for you and Skipton Building Society.
Your search tool is useful but there are many lawyers listed near Middlesbrough on the Skipton Building Society conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Skipton Building Society ?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
The lawyers that just started acting on my purchase in Brighton has suddenly closed. I chose them because I needed a solicitor on the Skipton Building Society conveyancing panel and my previous lawyer was not. I gave my credit card details for them to take £175 for searches. What do I do now?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Skipton Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help
Is it the case 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 Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I have a mortgage with Skipton Building Society. My father has just retired 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 will it roughly 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.
Although you do need to retain the services of a lawyer they dont
need to be on the Skipton Building Society 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. There's no capital gains tax for you as it is
your main residence.
I am currently in the process of buying my council flat. I have a mortgage agreed with Skipton Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Skipton Building Society you will need to appoint a solicitor on the Skipton Building Society conveyancing panel.
