Q and A’s regarding the Yorkshire Bank Solicitor Panel
from members of the public
My IFA has asked me for my solicitor’s panel member for the Yorkshire Bank conveyancing panel. How do I obtain this. I have called my local Yorkshire Bank branch but they cant find it on their system.
Have you tried speaking to your lawyer about this?. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Yorkshire Bank.
Our conveyancer has uncovered a problem with the lease for the apartment we are purchasing. The other side have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor says that as he is on the Yorkshire Bank conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or Yorkshire Bank?
Just because you have a mortgage offer from Yorkshire Bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Yorkshire Bank are the client. These conveyancing instructions have to be complied with by the Yorkshire Bank conveyancing panel who has to balance acting for you and Yorkshire Bank
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Yorkshire Bank conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I am selling my house. Does my solicitor have to be on the Yorkshire Bank conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Yorkshire Bank conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Last month we had a mortgage agreed in principle with Yorkshire Bank. Solicitors have been appointed? What is the average time that one could expect to receive a mortgage offer from Yorkshire Bank?
Some lenders take longer than others. Have Yorkshire Bank done the survey? Have you advised Yorkshire Bank as your lawyers details and checked that your lawyer is on the Yorkshire Bank conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
For 5 years I had a mortgage with Yorkshire Bank. My uncle retired last week and wants to pay off my mortgage. After Yorkshire Bank 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 Yorkshire Bank conveyancing panel? I do not intend to live at the property once the Yorkshire Bank mortgage is discharged.
You
will need a solicitor but they need not be on the Yorkshire Bank 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.
I am selling my flat. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Yorkshire Bank are being difficult. The solicitor who is on the Yorkshire Bank conveyancing panel is recommending indemnity insurance as a solution but Yorkshire Bank are insisting on a building regulation certificate. Why do Yorkshire Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Yorkshire Bank have referred the matter to their valuer. The reason why Yorkshire Bank may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.