Yorkshire Building Society Conveyancing Panel Information

UK Finance Designator: Yorkshire Building Society
Jurisdiction: England and Wales

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.

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Yorkshire Building Society Solicitor Panel: Recently Asked Questions

Will the fact that my practice subscribes to Alerts via this site assist in my application to join the Yorkshire Building Society conveyancing panel?
The criteria to join the Yorkshire Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

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Why are Estate Agents using search tools to check if lawyers are on a lenders conveyancing panel?
The fact of the matter is that estate agents will be suffering if their clients start out on the conveyancing process using a solicitor 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 lawyers.
Does my firm risk of suspension off the Yorkshire Building Society conveyancing panel if I have not sent the TID on a purchase within a certain time frame from draw-down of funds?
You might expect Yorkshire Building Society via their Part 2 conditions to address this but the Handbook makes no mention on deadlines to send deeds. You need to look at the Terms of Yorkshire Building Society’s Conveyancing Panel Appointment that you entered into. For many lender's these Terms include 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 Yorkshire Building Society informed. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.
Do lenders such as Yorkshire Building Society operate 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.
My firm is on the Yorkshire Building Society conveyancing panel. I am dealing with Yorkshire Building Society mortgage on a purchase. My borrower client is asking not to disclose an issue to Yorkshire Building Society. What do I do in this conflict situation?
When a solicitor is acting for both Yorkshire Building Society and borrower there is potential for conflicts to arise. You owe duties to both clients. All information received by you from your client is confidential and cannot be disclosed without the client’s consent. In the situation you find yourself in if the purchaser will not consent to the information being passed on to the lender the solicitor must cease to act for the Yorkshire Building Society and it may well be prudent you to cease to act for the purchaser as well. You can not tell the Yorkshire Building Society the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your Yorkshire Building Society conveyancing panel status.
Marsh’s PI Insurance renewal form asks if my practice had been excluded from any bank 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 impact my PII cover?
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 remortgage within the next week. I dont have a Mortgage Deed for the client to sign. Who do I contact at Yorkshire Building Society to request substitute deeds?
You would be advised to get in touch with Yorkshire Building Society to obtain standard documents. The CML Handbook includes an explicit question for banks to set out who to contact to obtain standard documents. You will need to quote the firm’s Yorkshire Building Society conveyancing panel number.
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.
YearDays*
2013 28.1
2012 31.0
* Data aggregated from sources including COMPLETIONmonitor

Recent Changes Include

# Date Assoc. Changes Related To
10.3 17/09/2018 CML
5.14.1 17/11/2016 CML
1.11b 01/12/2014 CML
5.5.1a 01/12/2014 CML
5.5.1b 01/12/2014 CML
6.14.4 01/12/2014 CML
6.14.1 01/12/2014 CML
6.8.1 14/01/2014 CML Adoption of Road or Sewer Indemnity Insurance
10.3 03/05/2013 CML
14.1.5 03/05/2013 CML

Last update 16/02/2019

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