Small Law Firms Excluded From the Property Market by the Big Banks.
Small law firms are now finding themselves excluded from
acting for their local clients buying a property with a mortgage. The banks
cracking down on mortgage fraud have taken the decision to remove the small
local law firms as a way reducing the risk saying that small firms do not do
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enough transactions to be familiar with the conveyancing
process. A P Bassett Solicitors who have been campaigning against the decision
suggest that the true reason for the bank's action is because the banks are
either selling legal services themselves, they own the law firms that do or
they have a financial relationship with companies the likes of Countrywide Conveyancing
MP Dan Rogerson asked the Prime Minister on Prime Minister's
Questions last month about the restrictive practice of the mortgage lenders and the Prime Minister said he is now going to
A P Bassetts are campaigning because they see this as a serious issue that will
impact on the towns where local law firms are being forced to close and also
the consumer who will no longer have access to local independent legal advice.
Have you been prevented from using the conveyancer of your choice when buying a
property with a mortgage? What was your experience? We would love to hear your
comments. Email: firstname.lastname@example.org