Yorkshire Building Society Conveyancing Panel : Questions and Answers from members of the public
My lawyer has never been on on the Yorkshire Building Society Solicitor Panel. Can I still continue with my family solicitor notwithstanding that they are not on the Yorkshire Building Society panel?
You will need to have a conveyancer complete the legal work required when you take out a Yorkshire Building Society mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Yorkshire Building Society conveyancing panel additional costs will be incurred as separate legal representation will be required by Yorkshire Building Society. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
Expecting to move into my new home next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for Yorkshire Building Society. What does the insurance need to cover?
All property lawyers on the Yorkshire Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Yorkshire Building Society’s Part 2 requirements of the CML Handbook (last updated on Yorkshire Building Society). Being on the Yorkshire Building Society conveyancing panel your lawyer is expect to follow these instructions.
How do I find a local solicitor on the Yorkshire Building Society conveyancing panel? I have a car and am prepared to travel up to 25 miles to meet the solicitor.
You can use the find a conveyancing panel search on this page. 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.
The firm that just started acting on my house acquisition in Hendon has suddenly closed. I chose them because I needed a firm on the Yorkshire Building Society conveyancing panel and my previous lawyer was not. I gave them a cheque for £150 in advance. What should be my next steps?
If you have an estate agent involved then let them know 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 solicitors may be able to help
Can you point me to a directory of Yorkshire Building Society panel conveyancers on the Building Society Association’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.
We were going to get a DIP from Yorkshire Building Society this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Yorkshire Building Society recommend a solicitor on the Yorkshire Building Society conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Yorkshire Building Society conveyancing panel. The solicitor represents both you and the Yorkshire Building Society through the process.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called into my local branch Yorkshire Building Society on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Yorkshire Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 requirements for Yorkshire Building Society. Unless your lawyer obtains specific confirmation in writing that Yorkshire Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Yorkshire Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
