FAQs : The Yorkshire Bank Conveyancing Panel from members of the public
What is the rationale as to why all solicitors aren't included on the Yorkshire Bank Solicitor panel?
Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
I am buying a newly built duplex and my solicitor is advising me that she is duty bound to disclose incentives from the seller as her firm is on the Yorkshire Bank conveyancing panel. I am under pressure to exchange contracts and I have no desire to delay deal. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Yorkshire Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Yorkshire Bank). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Whilst your website is a good idea there are many lawyers listed near London on the Yorkshire Bank conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Yorkshire Bank approved panel?
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. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
My solicitors in Birmingham have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Yorkshire Bank. Is it case that being on the Yorkshire Bank conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Yorkshire Bank Conveyancing Panel Terms. It might be worth you contacting Yorkshire Bank directly.
The for formalities of my purchase has taken place with a mortgage from Yorkshire Bank. Conveyancing was satisfactory but I feel I should register my dissatisfaction about Yorkshire Bank. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the Yorkshire Bank branches or the Customer Services Team at Yorkshire Bank head office. Ordinarily complaints to Yorkshire Bank are resolved very quickly. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called Yorkshire Bank on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Yorkshire Bank 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
As long as the conveyancer is on the Yorkshire Bank panel she or he must comply with the CML Handbook requirements for Yorkshire Bank. Unless your lawyer obtains specific confirmation in writing that Yorkshire Bank 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 Yorkshire Bank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
I had an offer accepted on a house on the 17th February 2014, valuation was booked 2 days after, all came back fine. Conveyancer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Yorkshire Bank and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Yorkshire Bank conveyancing panel. Are Yorkshire Bank entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Yorkshire Bank to deal with your lawyers application to be on the Yorkshire Bank conveyancing panel. There's no guarantee that your solicitors will be accepted.