Nationwide denies cutting conveyancing panel
Nationwide has rubbished rumours that it has become the latest lender to slash its conveyancing panel.
It was alleged that the building society was intending to remove any firm who completes less than one case a week.
However the mutual has denied anything of the sort, claiming it has not changed its conveyancing rules in over three months which demands conveyancers to complete a minimum of four cases per year.
Last week Santander cut its conveyancing panel by several hundred firms who, too, did not meet its volume requirement.
With the conveyancing world in dire straits, such culls would affect a substantial number of smaller conveyancing practices which, in turn, could result in customers ending up paying for two sets of legal fees – their own and the lenders – should they use a conveyancer who is not on the panel.
Over the past few months, we have started to experience a growing number of instructions coming to us mid-case, asking us to act on a lender-only basis. These circumstances largely occur when a client instructs their own solicitor to then discover they are not on the lender's panel.
While we are able to act solely for the lender, such a situation will cost customers both time and money. This can, however, be easily avoided.
As a conveyancing firm with over 25 years experience, Goldsmith Williams is on the majority of lender's conveyancing panels, even following such panel cuts. As a member of The Law Society’s Conveyancing Quality Scheme (CQS), we are also on HSBC’s new conveyancing panel, expected to launch at the end of the month.
By instructing us from the very beginning means clients could avoid any unnecessary hurdles or additional fees and charges.
Content correct at time of publication