Yorkshire Building Society Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers. COMPLETIONmonitor is a unique risk mitigation tool.

This system assists the way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with notifications given on Yorkshire Building Society’s changes. Even though using this technology is not a prerequisite for Yorkshire Building Society , demonstrating you can remain up to date with Yorkshire Building Society’s Handbook requirements is a helpful support to your panel application and, more importantly, protect your firm’s panel status.

The software creates real-time alerts, automatically produces SRA and CQS reports, and will improve your firm's efficiency. In addition it is user friendly, cost-effective and, for many firms, results in a PII saving.

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Banks and building societies frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from Yorkshire Building Society are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes

Since 2008, Yorkshire Building Society has made 255 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 10.7 days. In total, 42% of the sections of P2 of the UK Finance Lenders’ Handbook for Yorkshire Building Society have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
6.7.1 02/05/2017 CML
17.1.1 20/07/2015 CML
16.3.2 01/12/2014 CML
5.5.1a 01/12/2014 CML
6.14.1c 01/12/2014 CML
5.2.1 01/12/2014 CML
3.1.3 01/12/2014 CML
5.8.1 14/01/2014 CML
10.3 03/05/2013 CML
14.1.5 03/05/2013 CML

Last update 03/11/2018

Common questions asked concerning the Yorkshire Building Society Solicitor Panel from members of the public

I instructed a firm of solicitors to carry out on my house purchase six weeks ago having applied for a mortgage with Yorkshire Building Society. The law firm assured me that they are on Yorkshire Building Society conveyancing panel and provided me their panel reference. Yorkshire Building Society then called me to say that their panel number was dormant and would need to be reactivated. What do I do from here? Should I appoint a new solicitor listed on the approved panel for Yorkshire Building Society?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Yorkshire Building Society conveyancing panel You may wish to enlist the help of your broker to check with the Yorkshire Building Society as to the time frame to get your lawyer reinstated on the panel once again.
Our conveyancer has identified a problem with the lease for the property we are buying. The other side have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor has advised that as he is on the Yorkshire Building Society conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is Yorkshire Building Society?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Yorkshire Building Society are the client. 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 Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Yorkshire Building Society can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am buying a house and need a conveyancing solicitor in London who is on the Yorkshire Building Society conveyancing. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Yorkshire Building Society . We don’t recommend any particular firm.
My conveyancers in Newcastle have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with Yorkshire Building Society. Is it case that being on the Yorkshire Building Society conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Yorkshire Building Society Conveyancing Panel Terms. It might be worth you contacting Yorkshire Building Society directly.
I had instructed online solicitors based in Birmingham who are on the Yorkshire Building Society solicitor panel. They are now charging me a separate fee of £135 for dealing with the Yorkshire Building Society mortgage. Is this an additional conveyancing fee specified by Yorkshire Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Yorkshire Building Society but by your lawyers. Some firms on the Yorkshire Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
After shopping around on the internet I have found a solicitor having made sure that they are on the Yorkshire Building Society conveyancing panel. Does my lawyer arrange the survey of the property? Or I've read lots of house buying,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Yorkshire Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Yorkshire Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Yorkshire Building Society you could contact your them to see if they have a list of approved surveyors.
Me and my partner are purchasing a penthouse in Hendon. Conveyancing solicitors in Hendon will soon begiven the go-ahead. My agentrecommended that we make sure that the conveyancing practitioner in Hendon is on the Yorkshire Building Society list of approved conveyancing firms. Aren't all lawyers on the Yorkshire Building Society panel?
A limited percentage of Hendon conveyancing solicitors are on the Yorkshire Building Society conveyancing panel. 5 people a month use our search tool to find a Hendon conveyancing firm on the on the Yorkshire Building Society solicitors pane.