Skipton Building Society Conveyancing Panel Information

We are not aware of any intention on the part of the CML to develop such a tool.

The CML Part II requirements of Skipton Building Society are silent on this. Most lenders deal with the question of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 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 acceptance.

Although not necessarily published, lenders have varying criteria . We do not hold specific requirements relating to the questions raised as part of the application to be on the Skipton Building Society conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

SRA or equivalent regulator registration number where applicable

Charge registration history

Full disciplinary history for each licensed conveyancer

List of all those who can sign off the Certificate Of Title

Details of any accreditation e.g. Lexcel or

Structure of firm and, where applicable, its group

Full complaints history for each licensed conveyancer

PII Cover details, including, if relevant, whether the firm is or has been in the assigned risks pool and structure of cover – basic

List of all those who fund the firm, including non-lawyers if applicable

List of fee-earners who are foreign qualified

With lenders and conveyancers working so closely with one another 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 bank panels

CQS membership is 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 mortgage companies now use CQS as the starting point for Panel approval such as Santander.

You would be advised to get in touch with Skipton Building Society to obtain standard documents. The CML Handbook includes an individual inquiry for banks to enumerate who to contact to obtain standard documents. Skipton Building Society in their Part 2’s state: You will need to disclose the firm’s Skipton Building Society solicitors panel number.