Skipton Building Society Conveyancing Panel Information

The fact of the matter is that estate agents are feeling the pain if their clients start out on the conveyancing process having appointed a conveyancer who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors .

The Council of Mortgage Lender requirements of Skipton Building Society are silent on this. Most mortgage companies address the question of file retention via their Terms of panel appointment where they generally provide that for evidential purposes, the firm must keep the file for a minimum six years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Skipton Building Society’s interest. To be absolutely sure of Skipton Building Society requirements in this regard please check the Terms and Conditions of Skipton Building Society’s conveyancing panel membership.

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 Skipton 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 Skipton Building Society we suggest that you call Skipton Building Society to check the position.

The key here is the caveat ‘more onerous’. You have to try and take an objective view as to whether the Terms relating to the Skipton Building Society conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.

CQS membership gives no guarantee to lender panel acceptance. Nevertheless the CML have indicated that it is likely to become a prerequisite for firms wishing to join their approved list of firms. Some Lenders now use the Conveyancing Quality Scheme accreditation as the starting point for Panel approval such as Astra Mortgages.

You need to communicate with Skipton Building Society to obtain standard documents. The CML Handbook has an express question for banks to establish who to contact to obtain standard documents. Skipton Building Society in their Part 2’s state: It is likely that you will need to quote the firm’s Skipton Building Society solicitors panel reference.