Yorkshire Building Society Conveyancing Panel Example Support Desk Enquires from members of the public
The conveyancer my husband and I wanted to use for conveyancing on a remortgage said she will levy higher legal fees if my lender is due to their unusual legal requirements. Am I likely to be frustrated using Yorkshire Building Society? Is Yorkshire Building Society conveyancing so much more difficult?
Yorkshire Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Yorkshire Building Society conveyancing panel. If they are not, this does add further risk of delay as Yorkshire Building Society will appoint their own solicitors to look after their interest.
My god-son is in the process of securing a new build apartment with a home loan from Yorkshire Building Society. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Yorkshire Building Society conveyancing panel as a standard part of the process, and to the valuer when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Yorkshire Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have been searching for competitive conveyancing fees. Can I be assured that all the law firms that are identified on your site are on the Yorkshire Building Society conveyancing panel?
The law firms on our directory have advised us 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.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Yorkshire Building Society conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Yorkshire Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Can you point me to a directory of Yorkshire Building Society panel solicitors on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
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.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Yorkshire Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Yorkshire Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Yorkshire Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
