Q and A’s regarding the Yorkshire Bank Solicitor Panel from members of the public
We are buying a 1 bedroom flat in Leeds with a mortgage from Yorkshire Bank. We like our lawyer but Yorkshire Bank says she’s not on their "panel". We have to appoint one of the Yorkshire Bank panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Yorkshire Bank 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 Yorkshire Bank
My conveyancer has requested from me personal identification documents saying that this is part of his legal duty as a solicitor on the Yorkshire Bank Solicitor panel. Can this be correct?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that Yorkshire Bank also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Yorkshire Bank CML Handbook requirements last updated on Yorkshire Bank
Your search tool is useful but there are many lawyers listed near Chelsea on the Yorkshire Bank conveyancing panel. Can you recommend a specific firm on the conveyancing panel for Yorkshire Bank ?
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..
I am thinking of remortgaging my property does my lawyer have to be on the Yorkshire Bank Conveyancing panel?
There is nothing to stop you using your solicitor but Yorkshire Bank will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Do conveyancing lawyers on the Yorkshire Bank conveyancing panel work on a no move no charge basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
Hi, thinking about buying a house off my mate. Once we agree a price, what’s the best way to proceed? I hope to get a mortgage with Yorkshire Bank. Is it possible to avoid using solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Yorkshire Bank involved you will need to appoint a solicitor on the Yorkshire Bank conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Yorkshire Bank. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Yorkshire Bank conveyancing panel.
I have agreed a price on a apartment I spoke to a lawyer previously used by my uncle and he recommended retaining a law firm approved by Yorkshire Bank. The estate agent recommended two local firms so I asked Yorkshire Bank if the 2 suggested solicitors are approved, which they are not. Yorkshire Bank suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Yorkshire Bank 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Yorkshire Bank for conveyancing panel firms in your area. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Yorkshire Bank conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Yorkshire Bank conveyancing panel as it may only take about 2-3 weeks. As long as they meet Yorkshire Bank’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.