LARGE MORTGAGE LENDERS AND SMALL SOLICITOR FIRMS

That this House regrets the decision by some larger mortgage lenders to reduce the number of firms on their panel of conveyancing solicitors; notes that this entails removing some firms which have served on such panels for many years; is concerned that small and local firms appear to be the targeted casualties of this change; recognises that this has a direct and adverse impact on the ability of clients to choose which solicitor acts on their behalf; is further concerned that these large mortgage lenders may extend such restrictive conditions on clients in respect of other transactions including paying off a mortgage, transferring equity to family members, changing a mortgage, selling a house or checking deeds; and calls on Ministers to intervene to uphold rights of client choice as well as the professional standing and competitive rights of small and local solicitor firms.