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.
Looking for information about your firm's panel status?
Yorkshire Building Society Solicitor Panel: Recently Asked Questions
Is there a standard appeals process to prevent solicitors from being unfairly removed them from lender conveyancing panels?
We have come across many solicitors who feel they have been removed from lenders’ panels without an explanation or a good reason. It is highly unlikely, given that lenders have distanced themselves from creating a standardised appeals process for brokers, that an appeals process will be introduced for lawyers. Commenting on the call by brokers to have a standardised process the CML said’ “While we understand that some lenders do have an appeals process, it would not be appropriate for a trade body such as the CML to seek to be prescriptive about such a process.” Some lenders do of course set out an appeals policy. The Law Society does have information on it’s site that may be of assistance. If you would like to talk to one of our compliance experts about our Lender Panel Protection Service please click here.
What type of firms do building societies include on their Conveyancing Panels?
In the same way that there is a unique Yorkshire 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.
I have read a number of legal articles recently about firms being sued for non-compliance with Part 2 requirements . I am on the Yorkshire Building Society conveyancing panel can you tell me how Part 2 changes took place by Yorkshire Building Society during 2013?
During 2013, 72 sections of the UK Finance Lenders’ Handbook P2 were changed by Yorkshire Building Society. Some changes are more important than others but as a firm on the Yorkshire Building Society conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.
Remember: CML requirements are not guidelines; they are the lender client’s instructions.
We are a 3-partner firm on the Yorkshire Building Society conveyancing panel. How can we advertise our practice as specialists in conveyancing in Hendon on the Yorkshire Building Society panel?
14 people attempt to locate a property lawyer on the Yorkshire Building Society panel on a monthly basis in Hendon. Feel free to contact the Lexsure team who will tell how your firm can be listed by those searching for conveyancing in Hendon.
St Giles’ PII renewal form questions if my firm had been removed off any lender panels in the last year. I just became aware that the practice is no longer on the Yorkshire Building Society solicitor panel? Is this likely to effect my PII cover?
The best placed professionals to answer this question are your insurance brokers. 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 scheduled to complete a purchase shortly. I dont have a Mortgage Deed for the client to execute. Who do I contact at Yorkshire Building Society to obtain duplicate documents?
You should contact Yorkshire Building Society to obtain standard documents. The CML Handbook has a specific question for banks to establish who to contact to obtain standard documents. Yorkshire Building Society in their Part 2’s state:You will need to quote the firm’s Yorkshire Building Society conveyancing panel number.
Find a Lawyer on the Yorkshire Building Society Solicitor Panel
powered by LenderPanel
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.
* Data aggregated from sources including COMPLETIONmonitor