Common questions asked concerning the Clydesdale Bank Conveyancing Panel
from members of the public
I am in the process of selling my apartment and the estate agent has just called to say that the buyers are appointing a new property lawyer. I am told that this is due to the fact that Clydesdale Bank will only engage with solicitors on their conveyancing panel. Why would a major lender only deal with specific lawyers?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Nationwide , have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks blame a rise in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
Much to my surprise my property lawyer has requested from me ID documents stating that this is part of his retainer as a conveyancer on the Clydesdale Bank Conveyancing panel. Am I being spun a yarn?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Clydesdale Bank your lawyer also has to check ID documents to satisfy Clydesdale Bank
I require the services of a Clydesdale Bank panel solicitor in Belfast. Could you help me?
It is not clear why you need a Clydesdale Bank panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Clydesdale Bank to find out which solicitors in Clydesdale Bank are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
The lawyers that I recently instructed on my house acquisition in Brighton has without warning closed. I chose them because I needed a solicitor on the Clydesdale Bank conveyancing panel and my previous lawyer was not. I paid them £200 on account. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Clydesdale Bank conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help
We have a mortgage agreed in principle with Clydesdale Bank. Solicitors have been appointed? What is the average time that one could expect to receive a mortgage offer from Clydesdale Bank?
There is no definitive answer here. Have Clydesdale Bank done the valuation? Have you advised Clydesdale Bank as your lawyers details and checked that your lawyer is on the Clydesdale Bank conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
For 5 years I had a mortgage with Clydesdale Bank. My father retired last week and wants to pay off the mortgage left on the property. After Clydesdale Bank is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Clydesdale Bank conveyancing panel? I do not intend to live at the property once the Clydesdale Bank mortgage is discharged.
will need a solicitor but they need not be on the Clydesdale Bank conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
I have decided to exercise my right to buy my property off the council. 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.