Yorkshire Bank Conveyancing Panel Information

Yorkshire Bank 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 Yorkshire Bank 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. Does your ROT and Ts and Cs cover this?

One search provider lists over 65 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 Searchflow.

The Council of Mortgage Lender requirements of Yorkshire Bank are silent on this. Most lenders deal with 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 at least of 6 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 Yorkshire Bank’s interest. To be absolutely sure of Yorkshire Bank requirements in this regard please check the Terms and Conditions of Yorkshire Bank’s conveyancing panel appointment.

Although not necessarily published, lenders have varying criteria . We do not hold specific requirements relating to the questions raised as part of the application to be on the Yorkshire Bank conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Whether the firm has ever accepted instructions in respect of property clubs and investment schemes

SRA or equivalent regulator registration number where applicable

List of fee-earners who are foreign qualified

Firm name, address and contact details including all branches (including evidence of existence through risk-based physical visits and Google Streetview checks)

House price discrepancies (declared to lender vs. registered at Land Registry)

Solicitor

Automated alerting to inform lenders when there is a fundamental change to the firm (e.g. change of management)

Full complaints history for each conveyancing solicitor

Whether the firm is able to operate in other jurisdictions

List of all those who fund the firm, including non-lawyers if applicable

The Council of Licensed Conveyancers has initiated discussions with banks and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Yorkshire Bank in the recent past.

We would recommend that you supply details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not adversely impact your application but gives the Law Society a complete picture of what has happened.

You should get in touch with Yorkshire Bank to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an express section for lenders to enumerate who to contact to obtain standard documents. Yorkshire Bank in their Part 2’s state: It helps to quote your Yorkshire Bank conveyancing panel number.