FAQs for the Clydesdale Bank Conveyancing Panel from members of the public
I have just been informed by my mortgage adviser that my the law firm I have appointed is not on the Clydesdale Bank Conveyancing panel. How can I be certain that this is indeed the case?
The first thing you need to do is to contact your lawyer directly. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for Clydesdale Bank.
My nephew is about to exchange on a house that has just been built with a mortgage from Clydesdale Bank. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Clydesdale Bank conveyancing panel as a standard part of the process, and to the surveyor when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Clydesdale Bank conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I understood that this was a condition of being on the Clydesdale Bank solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
We're in London, First time buyers purchasing with a mortgage (lender is Clydesdale Bank , but our lawyer is on the Clydesdale Bank conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale Bank conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Clydesdale Bank conveyancing panel?
Some major banks and building societies now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
Can you point me to a directory 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.
Why might a lender such as Clydesdale Bank withdraw a mortgage offer?
Lenders such as Clydesdale Bank can withdraw their mortgage offer although this rarely happens. In the unlikely event that Clydesdale 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 5 examples:
- If the financial circumstances of the borrower have changed to the detriment and the Clydesdale Bank has been notified
- Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Clydesdale Bank conveyancing panel solicitors would be obliged to notify Clydesdale Bank of a change in the price of the property.
- Where the lender has to take account a recent change in taxation
- Where the Lender’s right to possession is fettered in some way
- If the solicitor on the Clydesdale Bank conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Clydesdale Bank ‘s instructions