FAQs for the Yorkshire Building Society Solicitor Panel
from members of the public
My financial adviser has has requested my law firm’s panel member for the Yorkshire Building Society conveyancing panel. What is the best way to obtain this. I have contacted my local Yorkshire Building Society office but they have not got back to me yet.
Have you tried speaking to your lawyer about this?. They should have a central record lender panel numbers including the Yorkshire Building Society panel reference.
I am buying a newly built apartment and my solicitor is advising me that she is duty bound to disclose incentives from the developer as her firm is on the Yorkshire Building Society conveyancing panel. I am nearing the developer’s deadline to exchange and I have no desire to delay the conveyancing. Can I insist on an exchange regardless of what my lawyer says about being on the Yorkshire Building Society panel?
You should not exchange unless you have advised to do so by your lawyer. 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). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am searching for conveyancing quotes online. Can I be confident that all the firms that are listed on your directory are on the Yorkshire Building Society conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have assured us via an online form that they are on the Yorkshire Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Yorkshire Building Society panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the Yorkshire Building Society conveyancing panel is not accurate.
The lawyers that just started acting on my purchase in Newcastle has suddenly shut down. They were on acting for me because I needed a solicitor on the Yorkshire Building Society conveyancing panel and my previous lawyer was not. I gave my credit card details for them to take £175 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Yorkshire Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help
Do conveyancing solicitors on the Yorkshire Building Society conveyancing panel work on a no move no charge basis?
In the main 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
Intending to buy 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 Building Society 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
I was told three weeks ago that my mortgage has been agreed
to by Yorkshire Building Society. Is it usual for Yorkshire Building Society to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Yorkshire Building Society to deal with your lawyers application to be on the Yorkshire Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.