Yorkshire Building Society Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Yorkshire Building Society and to assist in remaining on the Yorkshire Building Society Solicitor Panel.

Yorkshire Building Society Solicitor Panel: Recently Asked Questions

Are the CML planning on creating a online directory search tool with a view to to identify solicitors on the Yorkshire Building Society conveyancing panel?
We are not aware of any intention on the part of the CML to develop such a tool.

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Yorkshire Building Society has instructed me to conduct due diligence for them alone on a residential conveyancing matter , using the CML Lender’s Handbook. The borrower has his own solicitor (not on the Yorkshire Building Society conveyancing panel) How does this operate and are there different requirements from Yorkshire Building Society in this circumstance?
The Council of Mortgage Lenders, along with Yorkshire Building Society and other lenders created a standard set of instructions where a conveyancer is acting for a lender such as Yorkshire Building Society alone in a residential conveyancing transaction. These requirements are contained at Part Three of the UK Finance Lenders’ Handbook and are to be read together with Parts 1 & 2. The CML have published an example requirements letter to the borrower’s conveyancing solicitor for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel conveyancer.
Do banks such as Yorkshire Building Society run a separate conveyancing panel for buy to let mortgages?
The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Yorkshire Building Society as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Yorkshire Building Society we suggest that you call Yorkshire Building Society to check the position.
In my capacity as COLP for my firm are there regulatory implications that I should be considering if my firm is removed off the Yorkshire Building Society conveyancing panel?
What you should do largely depends on the reason that your firm has been removed off the Yorkshire Building Society conveyancing panel. The top 3 reasons are as follows:
  1. lack of transactions
  2. the lawyer is a sole practitioner
  3. as part of the HSBC panel reduction.
In these three circumstances it is unlikely that you would expected to take any action. Disclosure and other compliance considerations are more likely to be relevant if the reason for removal is due to breaches of lender requirements or allegations of fraud or negligence. Whether the reasoning should trigger a disclosable 'material' breach will depend on the firm and the circumstances around possible failures to comply with the SRA Authorisation Rules, and the SRA will judge each case on its own merits. Factors such as the detriment or risk of detriment to clients, the scale of the issue and overall impact on the firm will need to be considered in deciding whether a failure is 'material'. As the COLP you will need systems to identify patterns of breaches. Even if you don't consider there to be regulatory implications the firms COFA should give some thought to whether she/he needs to take any action as result of being removed from the Yorkshire Building Society conveyancing panel.
I have been a qualified solicitor for over 20 years never having had a negligence claim and have been refused acceptance on the Yorkshire Building Society conveyancing panel with no explanation. Am I not entitled to a reason?
For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Yorkshire Building Society conveyancing panel to see if you are entitled to a reason.
Marsh’s PII renewal form asks if my practice had been removed off any mortgage panels in the last year. I just became aware that the firm is no longer on the Yorkshire Building Society solicitor panel? Is this likely to impact my PII premium?
Your insurance brokers are your best port of call to address this question. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Yorkshire Building Society solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.
Our practice is on the Yorkshire Building Society conveyancing panel and due to complete a purchase within the next week. My file does not contain a Legal Charge for the client to sign. Who do I contact at Yorkshire Building Society to request substitute deeds?
You would be advised to contact Yorkshire Building Society to obtain standard documents. The CML Handbook has an individual question for banks to cite who to contact to obtain standard documents. Yorkshire Building Society in their Part 2’s state:
It is likely that you will need to quote the firm’s Yorkshire Building Society conveyancing panel reference.

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Average number of days to register title including a charge in favour of Yorkshire Building Society
This information relates to purchase only and not remortgages.
YearDays*
2024 [no data]
2023 [no data]
2022 [no data]
2021 [no data]
2020 [no data]
2019 23.4
* Data aggregated from sources including COMPLETIONmonitor