Clydesdale Bank Conveyancing Panel Information
The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Clydesdale Bank and to assist in remaining on the Clydesdale Bank Conveyancing Panel.
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Clydesdale Bank Conveyancing Panel: Recently Asked Questions
Is it possible that Clydesdale Bank will select another lawyer on the Clydesdale Bank conveyancing panel for a further advance during the lifetime of a mortgage?
Section 16.2.1 of the UK Finance Lenders’ Handbook relevant to a solicitor on the Clydesdale Bank conveyancing panel reads ‘Our mortgage secures further advances. Consequently, when a further advance is required for alterations or improvements to the property we will not normally instruct a member of our conveyancing panel but if you are instructed the appropriate provisions of this Handbook will apply’.
Being on the Clydesdale Bank conveyancing panel how long am I expected to keep hold of the complete conveyancing file?
The Council of Mortgage Lender requirements of Clydesdale Bank are silent on this. Most lenders address the issue 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 Clydesdale Bank’s interest. To be absolutely sure of Clydesdale Bank requirements in this regard please check the Terms and Conditions of Clydesdale Bank’s conveyancing panel acceptance.
What is the CLC doing to ensure that licensed conveyancers remain on lender conveyancing panels?
As is the case with the Law Society the CLC has entered discussions with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Clydesdale Bank as well as the BSA.
In conducting leasehold title investigations do Clydesdale Bank conveyancing panel lawyers have to consider if there is an insolvent landlord?
On the basis that your firm in is on the Clydesdale Bank conveyancing panel and you are acting for them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Clydesdale Bank are to lend, they may require indemnity insurance. In any event,you will need to check Clydesdale Bank’s specific requirements. Notwithstanding whether Clydesdale Bank will lend in such circumstances you still need to advise the borrower (unless you are acting for Clydesdale Bank alone) as to the risks of buying a property with an insolvent or absentee landlord.
Every so often I read a LENDERmonitor notification but I rarely see change of note. For example, I am on the Clydesdale Bank conveyancing panel and get an alerts only advising of a change of address. Does that matter?
Yes it does matter because sending a communication or deeds to the wrong address can cause delays that might not only affect your borrower client but also affect your ability to remain on the Clydesdale Bank solicitor panel. Lets say that Clydesdale Bank change their requirements as to where their panel firm send the deeds. Do you update the details in your case management system? Do you make a note? Is this communicated to the staff? In your Certificate of Title to Clydesdale Bank you are giving assurances that you will forward the relevant documents within 10 days of receiving the Title Information Document. Leaving to one side whether you are in breach of an undertaking in sending it to the wrong address, you run the risk of Clydesdale Bank suspending you off the panel because they are not receiving the deeds in accordance with the COT. It will not be a valid excuse to say that you sent it to an address that is no longer valid.
my firm’s membership of the Clydesdale Bank conveyancing panel was revoked but was reinstated on appeal, do I need to include these details on my application for CQS accreditation?
It would be advisable to supply details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not adversely impact your firm’s application but gives the CQS team a complete picture of what has occured.
Our practice is on the Clydesdale Bank conveyancing panel and all set to complete a remortgage within the next week. I dont have a Legal Charge for the client to sign. Who do I contact at Clydesdale Bank to obtain duplicate documents?
You need to contact Clydesdale Bank to obtain standard documents. The CML Handbook contains an express section for lenders to establish who to contact to obtain standard documents. Clydesdale Bank in their Part 2’s state:Don’t forget to quote the firm’s Clydesdale Bank solicitors panel reference.
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Average number of days to register title including a charge in favour of Clydesdale Bank
This information relates to purchase only and not remortgages.
* Data aggregated from sources including COMPLETIONmonitor