FAQs : The Clydesdale Bank Conveyancing Panel
from members of the public
My husband and I are FTBs. Within the 48 hours our solicitor has forwarded the sale agreement to sign with a detailed report with the expectation that exchange is imminent. Clydesdale Bank have this evening contacted us to advise us that they have now hit a problem as our solicitor is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme.
Your property lawyers should contact Clydesdale Bank and see if they can apply for membership of the Clydesdale Bank conveyancing panel, but if that is not viable Clydesdale Bank will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the Clydesdale Bank conveyancing panel as you are at liberty to use your preferred lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
I am due to move into my new home next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in has capacity as lawyer for Clydesdale Bank. What risks do Clydesdale Bank expect the insurance to cover?
All property lawyers on the Clydesdale Bank conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Clydesdale Bank’s Part 2 requirements of the CML Handbook (last updated on Clydesdale Bank). Being on the Clydesdale Bank conveyancing panel your lawyer is expect to follow these requirements.
I am purchasing a property and need a conveyancing solicitor in London who is on the Clydesdale Bank solicitor. Could you point me in the right direction as regards a solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Clydesdale Bank . We don’t recommend any particular firm.
What happens if my solicitor is removed from the Clydesdale Bank Solicitor panel before the completion date?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Is there a list of Clydesdale Bank panel solicitors on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
I am currently in the process of buying my council flat. I have a mortgage offer with Clydesdale Bank. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Clydesdale Bank you will need to appoint a solicitor on the Clydesdale Bank conveyancing panel.
I had an offer accepted on a property on the 5th January 2014, valuation was booked 3 days later, received a clean bill of health. Property lawyer instructed, so all that was missing was my mortgage offer. Having made daily calls to Clydesdale Bank and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Clydesdale Bank conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Clydesdale Bank to deal with your lawyers application to be on the Clydesdale Bank conveyancing panel. There's no guarantee that your solicitors will be accepted.