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Clydesdale Bank Solicitor Panel: Recently Asked Questions
Is it conceivable that
Clydesdale Bank
will assign a different firm on the
Clydesdale Bank
conveyancing panel for a further advance during the lifetime of a mortgage?
Paragraph 16.2.1 of the UK Finance Lenders’ Handbook applicable 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’.
Is it true that the Law Society has recommended that firms check their status on the
Clydesdale Bank conveyancing panel?
The Scottish Law Society has suggested that solicitors should check their panel status with lenders before accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the
Clydesdale Bank conveyancing panel. The recommendation arises from the practice of a number of mortgage lenders who remove solicitors from their panels without prior notice as part of their panel management system, which can lead to some solicitors discovering this only once instructed. This is sensible advice as a client finding out midway through a transaction that their lawyer is not on the approved lender panel is very frustrating and can lead to complaints. Many online consumer forums contain posts where someone is complaining about finding that their lawyer is not on a lender conveyancing panel. Such forums include moneysavingexpert.com
Are there conditions,outside the CML Part 2 requirements, that a firm should be aware of when on the Clydesdale Bank conveyancing panel?
In order to be on the Clydesdale Bank conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Clydesdale Bank) are as follows:
- To quote on all communications with us relating to deeds/registration issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
- To be responsible for the reconstitution of the title deeds (whether the title is registered or unregistered, at your own cost), where any deeds in your possession, or were last known to be in your possession, go missing.
- If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.
- To carry out our instructions with reasonable care and skill, ensuring that all employees carrying out mortgage work on our behalf are qualified and competent to do so
- Without prejudice to your obligation to comply in full with the Safeguards provisions in the CML Lenders’ Handbook, to report to us as soon as possible any suspicion that you have about the genuineness of any transaction in any respect.
What type of firms do building societies include on their Conveyancing Panels?
In the same way that there is a unique Clydesdale Bank
conveyancing panel most building societies, operate a conveyancing
panel for solicitors and other conveyancers that the lender will
instruct. Terms and Conditions and criteria for inclusion on a
building society conveyancing panel vary from lender-to-lender. Having
CQS accreditation may be a requirement. Institutional lenders, such
as a building society, is a client and is entitled to instruct the
solicitor or conveyancer of its choosing (who, in turn, is free to
accept or refuse instructions). Therefore, if lender and borrower
cannot agree which solicitor or conveyancer should represent them
jointly, they would usually proceed on a separate representation
basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook
Part 3s.
Where can I find the Clydesdale Bank conveyancing panel requirements in connection with Transfer of Equity Conveyancing?
Clydesdale Bank approved panel lawyers have to comply with the UK Finance Lenders’ Handbook instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if
Clydesdale Bank require, the deed of covenant on their behalf. You will need to check
Clydesdale Bank CML Part 2 conditions to see if
Clydesdale Bank have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the
Clydesdale Bank conveyancing panel
my firm’s membership of the
Clydesdale Bank conveyancing panel was revoked but was reinstated on appeal, do I need to disclose this information on my application for CQS accreditation?
It would be advisable to provide details of the date of removal, information on the reason for
removal, date of appeal and any reason given for reinstatement. This
should not negatively affect your firm’s application but gives the Law Society a complete picture of what has gone on.
My firm is listed on the
Clydesdale Bank
conveyancing panel and scheduled to complete a remortgage shortly. My papers do not include a Mortgage Deed for the client to sign.
Who do I contact at Clydesdale Bank to request substitute deeds?
You need to get in touch with Clydesdale Bank
to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an express section for lenders to cite who to contact to obtain standard documents.
Clydesdale Bank in their Part 2’s state:
It is likely that you will need to quote the firm’s Clydesdale Bank solicitors panel reference.
Find a Lawyer on the Clydesdale Bank Conveyancing Panel
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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.
Year | Days* |
---|---|
2024 | [no data] |
2023 | 36.5 |
2022 | 49.9 |
2021 | [no data] |
2020 | [no data] |
2019 | 23.7 |
* Data aggregated from sources including COMPLETIONmonitor
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