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Skipton Building Society Conveyancing Panel : Questions and Answers
My fiance and I are purchasing a 3 bedroom flat in Hackney with a mortgage from Skipton Building Society. We would like to retain our solicitor but Skipton Building Society says he's not on their "panel". It seems we have little choice but to instruct one of the Skipton Building Society panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Skipton Building Society conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Skipton Building Society
We are approaching an exchange and my parents having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Skipton Building Society. I am advised that, being on the Skipton Building Society conveyancing panel and acting on their behalf he must inform Skipton Building Society if the balance of the mortgage advance is not just from me. I advised the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Skipton Building Society to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Skipton Building Society if you agree, failing which, your lawyer must cease to continue acting.
Are the lawyers identified as being on the Skipton Building Society conveyancing panel, together with their details provided by Skipton Building Society?
The law firm practices themselves provide us confirmation that they are on the Skipton Building Society conveyancing panel as opposed to being supplied with a list from Skipton Building Society directly.
I am selling my house. Does my solicitor have to be on the Skipton Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Skipton Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
My wife and I have arranged a further advance on our mortgage from Skipton Building Society as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Skipton Building Society conveyancing panel to deal with the paperwork?
Skipton Building Society would not normally instruct firms on their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Skipton Building Society list
My husband and I are at the point of viewing houses and am about to put in an offer. Should I already have a conveyancer appointed at this stage? I intend to finance via a mortgage with Skipton Building Society
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Skipton Building Society , make sure you remember to check that your lawyer is on the Skipton Building Society conveyancing panel.
I have today made my last payment due on mortgage with Skipton Building Society. I assume I don't need a solicitor on the Skipton Building Society panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Skipton Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Skipton Building Society mortgage from the register. Skipton Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Skipton Building Society has sent the Land Registry the discharge electronically, and
the Skipton Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Skipton Building Society mortgage has been paid off.