Yorkshire Bank Conveyancing Panel Sample Enquires to our Call Center from members of the public
My fiance and I are hoping to buy a 3 bedroom flat in Newcastle with a mortgage from Yorkshire Bank. We like our lawyer but Yorkshire Bank says he's not on their "panel". It seems we have little choice but to instruct 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?
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 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Yorkshire Bank
We are approaching an exchange and my parents having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Yorkshire Bank. Apparently, being on the Yorkshire Bank conveyancing panel and acting on their behalf he must inform Yorkshire Bank if the balance of the mortgage advance is coming from anyone other than me. I disclosed to the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Yorkshire Bank to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Yorkshire Bank if you agree, failing which, your lawyer must cease to continue acting.
What tools are available to find a local solicitor on the Yorkshire Bank conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the lawyer.
You can use the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Yorkshire Bank solicitor panel.
We're in London, First time buyers buying with a mortgage (lender is Yorkshire Bank , but our lawyer is on the Yorkshire Bank conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Yorkshire Bank conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
We have a mortgage agreed in principle with Yorkshire Bank. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Yorkshire Bank?
There is no definitive answer here. Have Yorkshire Bank done the valuation? 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
I am about to exchange contracts on a purchase with a mortgage from Yorkshire Bank. The report from my solicitor mentions that Yorkshire Bank could withdraw their offer before completion. Is this right?
Banks and Building Societies such as Yorkshire Bank can revoke their mortgage offer although this is unusual. In the unlikely event that Yorkshire Bank withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are a number of examples:
- Where information comes to Yorkshire Bank ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- Many mortgage offers have an expiry date. Your lawyer should check this. Yorkshire Bank may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
- If the financial circumstances of the borrower have changed to the detriment and the Yorkshire Bank has been notified
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- Following advice from the valuer on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
I have 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. There's no capital gains tax for you as it is
your main residence.
