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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
Yorkshire Bank Conveyancing Panel : Questions and Answers
For what reasons would a firm of solicitors be excluded from the Yorkshire Bank solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of solicitor practices had been removed from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Yorkshire Bank
I do hope you can help me. My solicitor is informing me me that he is legally obliged to order a Local Authority search stemming from the fact that the firm are on the Yorkshire Bank conveyancing panel. Is my lawyer correct?
You have limited options available to you. As you are taking a mortgage with Yorkshire Bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Yorkshire Bank’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Yorkshire Bank. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Whilst your website is a good idea there are many lawyers listed near Middlesbrough on the Yorkshire Bank conveyancing panel. Can you recommend a specific firm on the Yorkshire Bank 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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I was due to move into my dream home yesterday. My lawyer’s firm is on the Yorkshire Bank solicitors panel but has moved offices in the past couple of months and had not advised Yorkshire Bank of their new address. Yorkshire Bank is now refusing to release my funds as the information from the solicitors isn't correct.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Yorkshire Bank branch or your mortgage broker to see if they can assist.
Is it common for Yorkshire Bank to withdraw a mortgage offer and what would be the reasoning?
Lenders such as Yorkshire Bank can revoke their mortgage offer although this rarely happens. 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 many potential reasons but here are a few examples:
- Where information comes to Yorkshire Bank ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- Where the lender has to take account a recent change in law
- Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
- 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
- If the solicitor on the Yorkshire Bank conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Yorkshire Bank ‘s instructions
I recently had an offer accepted on an apartment. My mortgage broker pressured me to appoint their lawyers I paid an upfront payment of 225. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Yorkshire Bank 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 Yorkshire Bank 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.
My ex -wife’s name is on the Yorkshire Bank mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Yorkshire Bank mortgage in order to sell?
In terms of the Yorkshire Bank mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Yorkshire Bank in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.