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approved by Yorkshire Bank

Ready to buy a new home? Failing to check that a lawyer is on the Yorkshire Bank list of approved solicitors can put your transaction at risk of delay or failure.

Find an Approved Solicitor on the Yorkshire Bank Home Loans Ltd Conveyancing Panel

FAQs : The Yorkshire Bank Solicitor Panel

Am I correct in assuming that the fact that my solicitor is not identified on the Yorkshire Bank Conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Yorkshire Bank.
Our solicitor has discovered a legal deficiency with the lease for the property we are purchasing. The other side have offered title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor says that as he is on the Yorkshire Bank conveyancing panel he must check that the lender is happy with this solution. Are we the client or is Yorkshire Bank?
Just because you have a mortgage offer from Yorkshire Bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Yorkshire Bank are the client. These conveyancing instructions must be adhered to by the Yorkshire Bank conveyancing panel who has to balance acting for you and Yorkshire Bank
Are the lawyers identified as being on the Yorkshire Bank conveyancing panel, together with their details provided by Yorkshire Bank?
The firms themselves provide us confirmation that they are on the Yorkshire Bank conveyancing panel as opposed to being supplied with a list from Yorkshire Bank directly.
My conveyancers in London have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Yorkshire Bank. Is it case that being on the Yorkshire Bank conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender 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 Yorkshire Bank Conveyancing Panel Terms. It might be worth you contacting Yorkshire Bank directly.
Are all Conveyancing Quality Solicitors on the Yorkshire Bank conveyancing panel?
It is true that some lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
I am about to exchange contracts on a purchase with a mortgage from Yorkshire Bank. The report from my solicitor mentions that Yorkshire Bank could withdraw their offer before completion. Is this right?
Lenders such as Yorkshire Bank can revoke their mortgage offer although this is unusual. In the unlikely event that Yorkshire Bank withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a number of examples:
  • Yorkshire Bank may amend or withdraw an offer if the Yorkshire Bank conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
  • A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
  • Where the sale is not at arms length for value to unconnected persons
  • If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
  • If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
After shopping around on the internet I have found a solicitor having made sure that they are on the Yorkshire Bank conveyancing panel. Does my lawyer arrange the survey of the property? Or Having read lots of house buying,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Yorkshire Bank conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Yorkshire Bank will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire Bank will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Yorkshire Bank you could contact your them to see if they have a list of approved surveyors.