Yorkshire Building Society Solicitor Panel Sample Enquires to our Call Center from members of the public
My lawyer has never been on on the Yorkshire Building Society Conveyancing Panel. Can I still retain my family solicitor even though they are excluded from the Yorkshire Building Society panel of approved conveyancing solicitors?
The most common options here are as follows:
- Complete the purchase with your existing solicitors but Yorkshire Building Society will need to instruct a lawyer on the Yorkshire Building Society conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Yorkshire Building Society conveyancing panel.
- Urge your lawyer to apply to join the Yorkshire Building Society lender panel
Please assist. 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 Building Society was dated random date and we have agreed a date for me to move into the property on 6 months + 3. My solicitor has advised that as she is on the Yorkshire Building Society conveyancing panel she needs to redo the searches as they are no longer acceptable to the lender.
A precondition to being on the Yorkshire Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Yorkshire Building Society)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 Building Society.
Are the lawyers identified as being on the Yorkshire Building Society conveyancing panel, together with their details provided by Yorkshire Building Society?
The firms themselves provide us confirmation that they are on the Yorkshire Building Society conveyancing panel as opposed to being supplied with a list from Yorkshire Building Society directly.
Please explain the implications if my solicitor is suspended from the Yorkshire Building Society Solicitor panel before the moving date as agreed at exchange of contracts?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am selling my house. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Yorkshire Building Society are being a right pain. The solicitor who is on the Yorkshire Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Yorkshire Building Society are requiring a building regulation certificate. Why do Yorkshire Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Yorkshire Building Society have referred the matter to their valuer. The reason why Yorkshire Building Society 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.
Planning on purchasing a flat with a mortgage with Yorkshire Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Yorkshire Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Yorkshire Building Society conveyancing panel
Yorkshire Building Society have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Yorkshire Building Society or your broker and complete any relevant paperwork. Yorkshire Building Society will tell you what documents they want. Yorkshire Building Society will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Yorkshire Building Society will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.