Yorkshire Building Society Conveyancing Panel : Questions and Answers
from members of the public
My fiance and I are purchasing a 1 bedroom apartment in Newcastle with a mortgage from Yorkshire Building Society. We like our solicitor but Yorkshire Building Society says she’s not on their "panel". It seems we have little choice but to instruct one of the Yorkshire Building Society panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Yorkshire Building Society use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Yorkshire Building Society 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 Building Society
My conveyancer has identified a difference between the assumptions in Yorkshire Building Society’s home valuation report and what is in the title deeds. My solicitor informs me that as he is on the Yorkshire Building Society conveyancing panel he must check that the bank is happy with this discrepancy and is content go ahead. Is my conveyancer’s approach legitimate?
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 do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Are there any apps to help find a local solicitor on the Yorkshire Building Society conveyancing panel? I have a car and am prepared to travel up to 25 kilometers to meet the lawyer.
Feel free to make use of the find a conveyancing panel tool on this website. 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 Building Society solicitor panel.
My grandfather passed away six months ago and as sole heir and executor was left the house. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Yorkshire Building Society , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Yorkshire Building Society will insist on your using a conveyancer on the Yorkshire Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Yorkshire Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Yorkshire Building Society mortgage is registered as a charge at the Land Registry.
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Yorkshire Building Society conveyancing panel requirements are different to Yorkshire Building Society’s conveyancing panel criteria.
I am buying a property where the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Yorkshire Building Society be concerned
As you are obtaining a mortgage with Yorkshire Building Society your lawyer must to check the Yorkshire Building Society conveyancing instructions contained in the Part of CML Handbook for Yorkshire Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Yorkshire Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
I recently had an offer accepted on an apartment. My financial adviser recommended their conveyancers I paid an upfront payment of 175. Soon after the conveyancers contacted me to say that they were not on the Yorkshire Building Society 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 Building Society 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.