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Clydesdale and Yorkshire restrict conveyancing panels to “accredited” firms

by: Mortgage Solutions
  • 26/03/2012
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Clydesdale and Yorkshire restrict conveyancing panels to “accredited” firms
Clydesdale and Yorkshire Banks are restricting their conveyancing panels to firms accredited by The Law Society’s Conveyancing Quality Scheme (CQS).

The lender will also accept business from firms which are already on its approved panel for undertaking business lending work.

The new arrangements for England and Wales will apply to all applications received on or after April 16 2012.

Arrangements in Scotland are unchanged.

Desmond Hudson, chief executive of The Law Society, said: “Lenders make their own decisions about their panels, so we regard Clydesdale and Yorkshire Banks’ decision to make CQS a requirement for panel membership as further demonstration that CQS is a trusted community of skilled practitioners.

“Not only is it an assurance of high standards in conveyancing for lenders, but by showing its commitment to CQS, they are also putting customers’ interests first by maintaining a wide panel of trusted firms.”

The Law Society has so far accredited 1,300 firms in England and Wales.

Earlier this year, HSBC decided to restrict its conveyancing panel to 42 firms.

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