Skipton Building Society Conveyancing Panel Information

Skipton Building Society make no specific obligation to carry out any of the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must ensure that any other searches which may be appropriate to the particular property, taking into account its locality and other features are carried out’.

Please note that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Skipton Building Society are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the client.

Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Is this covered within your Terms of Engagement or Report on Title?

A leading search provider lists over 70 conveyancing searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location contact your search provider or call one of the leading search companies such as STL.

You might expect Skipton Building Society via their Part Two conditions to address this but the Handbook is silent on time frames. Do look at the Terms of Skipton Building Society’s Conveyancing Panel Appointment that you previously signed. For a number of banks these Terms have a clause along the following lines: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is important to keep Skipton Building Society updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

In the same way that there is a unique Skipton Building Society conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

You will be aware of the trend in recent years for lenders such as Skipton Building Society to take a much more pro-active approach in relation to the management and make up of their conveyancer panels. The knock on effect of this is that it is more likely that there will be a higher number of cases where a conveyancer is not on the Skipton Building Society panel. The situation that you find yourself in is where your client’s purchaser has his/her own lawyer and Skipton Building Society have appointed a separate lawyer to act on their behalf where the new CML Part 3 requirements apply. Section 11.1 of the UK Finance Lenders’ Handbook Part 3 requires Skipton Building Society’s panel solicitor to ‘ ...transfer the mortgage advance directly to the Seller’s conveyancer. The Seller’s conveyancer must be required to hold the mortgage advance on the terms of the required undertaking. The example borrower’s conveyancer’s undertaking letter includes a specific example of the seller’s undertaking’. You should expect to be advised to received the mortgage advance directly from the conveyancing solicitors for Skipton Building Society. You will no doubt be required to undertake directly to Skipton Building Society’s solicitors to discharge any charges secured on the property and to send directly to them the executed transfer and any other documents required to enable us to effect registration. Please remember to carefully consider undertakings in accordance with your firm’s protocol and record them in your undertakings logg. Please remember that as well as this breach of this undertaking having regulatory and compliance implications it’s breach could also result in your firm being removed off the Skipton Building Society conveyancing panel.

The Law Society’s 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 remain on their approved list of conveyancing solicitors. Some Lenders now use the Conveyancing Quality Scheme accreditation as the starting point for Panel approval as is the case with Astra Mortgages.

You would be advised to communicate with Skipton Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates a specific inquiry for lenders to cite who to contact to obtain standard documents. Skipton Building Society in their Part 2’s state: Please remember to quote your Skipton Building Society conveyancing panel number.