Skipton Building Society Conveyancing Panel Information

Skipton Building Society make no specific obligation to carry out any of the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must ensure that any other searches which may be appropriate to the particular property, taking into account its locality and other features are carried out’.

Please note that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Skipton Building Society are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the client.

Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Is this covered within your Terms of Engagement or Report on Title?

A leading search provider lists over 70 conveyancing searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location call your search provider or call one of the leading search companies such as STL.

We only know of two or three banks that operate a separate conveyancing panel where the mortgage advance is over a certain threshold. You should nevertheless check directly with Skipton Building Society. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Skipton Building Society

The Council of Mortgage Lender requirements of Skipton Building Society are silent on this. Most mortgage companies address the question of file retention via their Terms of panel appointment where they generally provide that for evidential purposes, the firm must keep the file for a minimum six years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Skipton Building Society’s interest. To be absolutely sure of Skipton Building Society requirements in this regard please check the Terms and Conditions of Skipton Building Society’s conveyancing panel membership.

With banks and conveyancers working so closely together it is surprising that there has not been much call for the introduction of a bit of transparency regarding not just the figures for the Skipton Building Society conveyancing panel but for all lender panels

CQS accreditation gives no guarantee to lender panel acceptance. Nevertheless the CML have indicated that it is likely to become a prerequisite for firms wishing to remain on their approved list of firms. A number of Lenders now use CQS as the starting point for Panel membership such as Astra Mortgages.

You should communicate with Skipton Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an explicit inquiry for lenders to enumerate who to contact to obtain standard documents. Skipton Building Society in their Part 2’s state: Don’t forget to quote your Skipton Building Society solicitors panel reference.