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approved by Clydesdale Bank
Ready to buy a new home? Failing to check that a lawyer is on the Clydesdale Bank list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Clydesdale Bank plc Conveyancing Panel
Frequently asked questions relating to the Clydesdale Bank Solicitor Panel
Can you please explain the reason why all solicitors are not on the Clydesdale Bank Solicitor panel?
Before the recession most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
Much to my surprise my lawyer has requested from me ID documents saying that this is part of his obligations as a conveyancer on the Clydesdale Bank Solicitor panel. Can you confirm whether this is the case?
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 have been Googling for conveyancing quotes online. Can I be assured that all the law firms that are listed on your site are on the Clydesdale Bank conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us that they are on the Clydesdale Bank panel and agreed to advise us to take down their listing in the event of removal off of the Clydesdale Bank panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the Clydesdale Bank conveyancing panel is not accurate.
I was expecting to complete on my first house last Thursday. My solicitor is on the Clydesdale Bank conveyancing panel but has changed address in the past couple of months and had not informed Clydesdale Bank of their new address. Clydesdale Bank is now refusing to release my funds as the information from the solicitors isn't correct.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Clydesdale Bank branch or your mortgage broker to see if they can help.
Are all Conveyancing Quality Solicitors on the Clydesdale Bank conveyancing panel?
A selection of banks and building societies now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership 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 join their approved list of conveyancing solicitors.
I had instructed online conveyancers based in Manchester who are on the Clydesdale Bank solicitor panel. They have just invoiced me a separate fee of £150 for the legal aspects of the Clydesdale Bank mortgage. Is this a supplemental conveyancing fee set by Clydesdale Bank?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Clydesdale Bank but by your lawyers. Some firms on the Clydesdale Bank will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
Clydesdale Bank have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Clydesdale Bank or your broker and complete any relevant paperwork. Clydesdale Bank will tell you what documents they want. Clydesdale Bank will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Clydesdale Bank will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.