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Ready to buy a new home? Failing to check that a lawyer is on the Skipton BS list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Skipton Building Society Conveyancing Panel
Skipton Building Society Solicitor Panel Example Support Desk Enquires
I am progressing with the sale of my apartment and the EA has just called to warn that the purchasers are swapping solicitor. I am told that this is due to the fact that Skipton Building Society will only deal with property lawyers on their approved list. On what basis would a leading lender only work with specific law firms?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Nationwide , have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Lenders point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
My wife and I are refinancing our flat with Skipton Building Society. We have a son 19 who lives with us. The solicitor on the Skipton Building Society conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this document specific to the Skipton Building Society conveyancing panel as he never had to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Skipton Building Society .This is solely used to protect the Skipton Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Skipton Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Whilst your website is a good idea there are many lawyers listed near Newcastle on the Skipton Building Society conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Skipton Building Society approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
My solicitors in Liverpool have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Skipton Building Society. Is it case that being on the Skipton Building Society conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Skipton Building Society Conveyancing Panel Terms. It might be worth you contacting Skipton Building Society directly.
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 a member of their conveyancing panel 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 panel
It is not clear whether my mortgage offer requires a lease extension . I have telephoned Skipton Building Society on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Skipton Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Skipton Building Society panel she or he must comply with the CML Handbook requirements for Skipton Building Society. Unless your lawyer obtains specific confirmation in writing that Skipton Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Skipton Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
After much negotiation I have agreed a price on a house. My financial adviser pressured me to appoint their lawyers I paid an upfront payment of 175. Soon after the conveyancers contacted me to say that they were not on the Skipton Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.