Clydesdale Bank Conveyancing Panel Information

When a solicitor is acting for both Clydesdale Bank and borrower there is potential for conflicts to arise. You owe duties to both clients. All information received by you from your client is confidential and cannot be disclosed without the client’s consent. In the situation you find yourself in if the purchaser will not consent to the information being passed on to the lender the solicitor must cease to act for the Clydesdale Bank and it may well be prudent you to cease to act for the purchaser as well. You can not tell the Clydesdale Bank the reason for termination of the retainer over and above the fact that a conflict has arisen. The fact that you can no longer act should alert even the most somnambulistic of lenders that something is wrong with the borrower and/or purchase. The fact that you have disinstructed yourself should not affect your Clydesdale Bank conveyancing panel status.

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.

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 adversely impact your firm’s application but gives the CQS team a complete picture of what has happened.

You would be advised to contact Clydesdale Bank to obtain standard documents. The CML Handbook incorporates an express inquiry for lenders to reveal who to contact to obtain standard documents. Clydesdale Bank in their Part 2’s state: It helps to quote your Clydesdale Bank solicitors panel reference.