Conveyancing: What the consumer doesn't know...

Due to recent changes brought about by the banks to exclude small law

firms from their conveyancing panels, many small law firms now face

closure. This may not mean a lot to you personally…until you need access

to local and affordable legal services yourself, or you want to buy a

property with a mortgage and then you find the bank will dictate which

conveyancer you can use to represent you. Although that won't be

immediately obvious because the bank's panel conveyancers pay the estate

agents a referral fee to recommend them to you. HSBC for example use

Countrywide Conveyancers as anyone selling or buying a property through

multi-national estate agents will know.

Only when you suggest using your own solicitor will you be told one of three things, depending on who the lender is:

1) The mortgage offer will be withdrawn

2) You can use your own solicitor, but it will cost extra because you

the borrower will be expected to pay for the lender's legal costs

3) You can only use a conveyancer from the lender's panel, usually an

online conveyancer because it is unlikely that they will be local to

where you live.

We feel very strongly that this latest move by the banks is not in

the best interest of you the consumer, the High Street or rural

communities. We have therefore written a letter in the form of a blog to Vince Cable so you the consumer can leave your own comments.

It takes all sorts of small businesses to

make a successful High Street. Law Firms are just one of them.

Independent businesses are the backbone of a community and are vital in

the growth of our economy.

We would really appreciate it if you could share the letter with your friends and family and let us know your thoughts.

Thank you.

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