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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.
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:
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction.
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.
Find a Lawyer on the Yorkshire Building Society Solicitor Panel
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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.
Year | Days* |
---|---|
2024 | [no data] |
2023 | [no data] |
2022 | [no data] |
2021 | [no data] |
2020 | [no data] |
2019 | 23.4 |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Yorkshire Building Society Firms
- Draft Report on Title precedent for Yorkshire Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Yorkshire Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Yorkshire Building Society lender panel
- Buy-to-Let help for Yorkshire Building Society
- Consent-to-Let help for Yorkshire Building Society
- Contractor Mortgages with Yorkshire Building Society