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Yorkshire Building Society Conveyancing Panel : Questions and Answers
My financial adviser has informed me that I have to pay Yorkshire Building Society fees if I use my own solicitor. How efficient are the Yorkshire Building Society conveyancing panel solicitors? I dont care which law firm I use as long as they're good and reasonably priced. Are there any Yorkshire Building Society conveyancers you'd recommend?
Yorkshire Building Society’s conveyancing panel is substantial so it would be advisable to check with the firms you are getting quotes from that they are on the panel. You can search by postcode on the search tool on this site to find solicitors that Yorkshire Building Society will allow to act for them.
Please assist. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from Yorkshire Building Society was date stamped random date and we have agreed a date for me to move into the property on 10 days inc Day of week eg. Mon. My lawyer says that as she is on the Yorkshire Building Society conveyancing panel she needs to reorder the searches as they are no longer acceptable to the lender.
A precondition to being on the Yorkshire Building Society approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Yorkshire Building Society)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Yorkshire Building Society.
I am looking for online conveyancing estimates. Can I be sure that all the firms that are identified on your website 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.
I was scheduled to complete on my flat two days ago. My solicitor is on the Yorkshire Building Society conveyancing panel but has changed address 8 weeks ago and had not informed Yorkshire Building Society of their new address. Yorkshire Building Society has locked down the release of mortgage funds as the information from the solicitors isn't correct.
This is a rare situation indeed. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Yorkshire Building Society branch or your mortgage broker to see if they can assist.
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.
Hi, thinking about buying a house off my mate. Assuming we can agree a figure, what’s the best way to proceed? I hope to get a mortgage with Yorkshire Building Society. Is there anyway to cut out the solicitors to save on the costs? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Yorkshire Building Society involved you will need to appoint a solicitor on the Yorkshire Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Yorkshire Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Yorkshire Building Society conveyancing panel.
Why might a lender such as Yorkshire Building Society withdraw a mortgage offer?
Banks and Building Societies such as Yorkshire Building Society can revoke their mortgage offer although this rarely happens. If Yorkshire Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a few examples:
- If the financial circumstances of the borrower have changed to the detriment and the Yorkshire Building Society has been notified
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Following advice from the property assessor on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
- Where the lender has to take account a recent change in taxation
- If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances