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Clydesdale Bank Conveyancing Panel : Questions and Answers
I appointed a firm of solicitors to conduct the legal paperwork on my remortgage three weeks ago having applied for a mortgage with Clydesdale Bank. The firm assured me that they are on Clydesdale Bank conveyancing panel and advised me their panel number. Clydesdale Bank then ,via my broker advised that their panel number was dormant and would need to be reactivated. What happens next? Should I appoint a new solicitor listed on the conveyancing panel for Clydesdale Bank?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Clydesdale Bank conveyancing panel You may wish to enlist the help of your broker to check with the Clydesdale Bank as to the time frame to get your lawyer reinstated on the panel once again.
Our lawyer has discovered a problem with the lease for the apartment we are purchasing. The seller’s lawyers have offered defective title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor says that as he is on the Clydesdale Bank conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or Clydesdale Bank?
Just because you have a mortgage offer from Clydesdale Bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Clydesdale Bank are the client. The appropriate lender requirements have to be complied with by the Clydesdale Bank conveyancing panel who has to balance acting for you and Clydesdale Bank
I have been Googling for competitive conveyancing fees. Can I be sure that all the law firms that are listed on your site are on the Clydesdale Bank conveyancing panel?
The law firms 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 would like to get my ex-husband taken off the mortgage deeds. Can Clydesdale Bank really tell me which solicitor I can or can not instruct?
You can use any solicitor you like but Clydesdale Bank then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Clydesdale Bank solicitors panel
I had instructed online solicitors based in Birmingham who are on the Clydesdale Bank solicitor panel. They are now charging me a separate fee of £175 for dealing with the Clydesdale Bank mortgage. Is this an additional conveyancing fee specified 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.
How can we tell if a solicitor on the Clydesdale Bank panel is any good?
obtaining recommendations is a sensible starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor carrying out your conveyancing
Why might a lender such as Clydesdale Bank withdraw a mortgage offer?
Banks and Building Societies such as Clydesdale Bank can revoke their mortgage offer although this is unusual. should Clydesdale Bank withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are 5 examples:
- Where information comes to Clydesdale Bank ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- Clydesdale Bank may amend or withdraw an offer if the Clydesdale Bank conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- If the borrower informs Clydesdale Bank of a change in the loan amount agreed
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
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Transfer of Equity for Clydesdale BankPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors