Yorkshire Bank Solicitor Panel Recently Asked Questions
from members of the public
For what reasons would a firm of solicitors be removed from the Yorkshire Bank approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been removed from a lender panel. The most common reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Yorkshire Bank
Can you help?. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Yorkshire Bank was date stamped random date and we have agreed a date for me to move into the property on Tues etc. My solicitor informs me that as she is on the Yorkshire Bank conveyancing panel she needs to redo the searches as they are no longer valid.
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)which states that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Yorkshire Bank.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Yorkshire Bank conveyancing panel. My lawyer has said that they are on the Yorkshire Bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Yorkshire Bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Yorkshire Bank solicitor panel.
I am trying to get my ex-husband removed the mortgage deeds. Can Yorkshire Bank really insist on which solicitor I can or can not instruct?
You can use any solicitor you like but Yorkshire Bank then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Yorkshire Bank solicitors panel
Do conveyancing lawyers on the Yorkshire Bank conveyancing panel work on a no sale no fee 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 service
In what circumstances might Yorkshire Bank amend or withdraw their mortgage offer?
Banks and Building Societies such as Yorkshire Bank can revoke their mortgage offer although this rarely happens. In the unlikely event that Yorkshire Bank withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are 5 examples:
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Yorkshire Bank may amend or withdraw an offer if the Yorkshire Bank conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
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If the financial circumstances of the borrower have changed to the detriment and the Yorkshire Bank has been notified
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If the borrower informs Yorkshire Bank of a change in the loan amount agreed
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If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
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If the solicitor on the Yorkshire Bank conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Yorkshire Bank ‘s instructions
After much negotiation I have agreed a price on an apartment. My mortgage broker recommended their conveyancers I paid an upfront payment of 225. Soon after the conveyancers contacted me to say that they were not on the Yorkshire Bank conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Yorkshire Bank panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.