Sunday 9 February 2014

Clydesdale Bank Conveyancing Panel Review Due in 2014

Clydesdale Bank currently has 14 firms on the panel, which also covers legal work for Yorkshire Bank, both of which are  subsidiaries of parent National Australia Bank.

The firms previously appointed in May 2011 are Addleshaw Goddard, Brodies, CMS Cameron McKenna, DLA Piper, Dundas & Wilson, Eversheds, Harper Macleod, Gatelely, Hogan Lovells, Mcclure Naismith, Morton Fraser, Norton Rose, Thomas Eggar, Optima Legal.

At the time of appointment, Clydesdale Bank head of legal Michael Webber said: "As a matter of course we regularly review our key suppliers, and as a result we have consolidated the number of firms on our national legal panel." revealed back in 2011 that the bank reviews the national panel every three years, which if correct, and assuming there has been no policy change, the review will shortly take place.

The review of it’s legal panel is different to the consolidation or changes to the Clydesdale conveyancing panel which may also take place in 2014. Just a few months ago the CML revealed that Clydesdale are interested in joining the ‘Lender Exchange’ scheme.

The Lender Exchange is a secure web portal. The portal addresses the issue of multiple lenders seeking similar information from law firms in order to manage their conveyancing panels. Lender Exchange will allow law firms to submit their data through a single, secure system which those lenders, who are part of the scheme, will be able to access data that allows them to independently manage their conveyancing panel.

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