Over the past 12 months a number of mortgage lenders including Santander, Nationwide and Lloyds Banking Group have taken potentially adverse steps to manage the number of solictors firms on their approved panel for conveyancing transactions.
The Law Society has sought to engage with the main lenders and the Council of Mortgage Lenders to seek a sensible and practical long-term solution, in a similar vein to the recent successful agreement with HSBC. As part of this dialogue, the Society is also engaging with the government to secure the support of ministers and civil servants to work with us and the mortgage industry to broker a long term solution that is in the interests of consumer, lenders and the profession.
This briefing sets out how you can contribute to this process by lobbying your own, or your firm's local member of parliament (MP), in order to raise your concerns about the removal of conveyancers from the lender panels of major banks.