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Ready to buy a new home? Failing to check that a lawyer is on the Yorkshire BS list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?How does my firm apply to be on the Yorkshire Building Society Conveyancing Panel? How can my firm be reinstated onto the Yorkshire Building Society Conveyancing Panel?
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Q and A’s regarding the Yorkshire Building Society Solicitor Panel
My mortgage broker has says he needs my law firm’s panel member for the Yorkshire Building Society conveyancing panel. Can you suggest how I discover this. I have contacted my local Yorkshire Building Society branch but they have not got back to me yet.
the sensible thing to do is ask for this information from your solicitor. They should have a central record lender panel numbers including the Yorkshire Building Society panel reference.
We are getting closer to an exchange and my mum and dad 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 Yorkshire Building Society. Apparently, being on the Yorkshire Building Society conveyancing panel and acting on their behalf he must inform Yorkshire Building Society if the balance of the mortgage advance is coming from anyone other than me. I disclosed to 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 Yorkshire 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 Yorkshire Building Society if you agree, failing which, your lawyer must cease to continue acting.
What tools are available to search for a local solicitor on the Yorkshire Building Society conveyancing panel? I have a car and am prepared to travel up to 25 miles to meet the solicitor.
Feel free to make use of the find a conveyancing panel search on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Yorkshire Building Society solicitor panel.
I am considering applying for a Yorkshire Building Society mortgage for purchase of a new build (under development) with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Yorkshire Building Society?
There is nothing to stop you using your solicitor but Yorkshire Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Is it the case that all conveyancing solicitors on the Yorkshire Building Society conveyancing panel work on a no sale no fee basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
I previously instructed online solicitors located in London who are on the Yorkshire Building Society solicitor panel. They are now charging me a separate fee of £175 for dealing with the Yorkshire Building Society mortgage. Is this a supplemental conveyancing fee set by Yorkshire Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Yorkshire Building Society but by your lawyers. Some firms on the Yorkshire Building Society will charge an ‘acting for lender’ fee and others do not.
Can I be sure that the solicitor on the Yorkshire Building Society panel is any good?
Getting recommendations is a sensible starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer handling your transaction