Mortgage lenders cut lists of 'approved' solicitors for conveyancing | Money | The Guardian

Mortgage lenders cut lists of 'approved' solicitors for conveyancing | Money | The Guardian

As if finding a property, saving for a deposit and passing credit and salary checks weren't enough for would-be homebuyers, lenders have thrown in a new issue: your solicitor. An increasing number of borrowers are finding that their lender will not work with the law firm they have chosen to do their conveyancing – a situation that is reducing consumer choice and can add costs, hassle and delay to the homebuying process. And the problem is likely to grow.

Mortgage lenders have always had panels of law firms they are willing to work with, but in the past few months big names such as Santander, Nationwide and Lloyds Banking Group have all reviewed and reduced those lists – in some cases removing solicitors who have worked with them for more than 20 years.