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Small Law Firms Excluded From the Property Market by the Big Banks.

By banksbad4biz  |  Posted: February 18, 2013

Angry Lostwithiel traders fight back: Mike Dobbie, vice- chairman of the Lostwithiel Business Group, Mat Connolley of Iteracy, Kat Smith from Transition Lostwithiel, solicitor Paul Bassett, Office Manager Joy Bassett, solicitor Peter Ripley, trainee legal executive Kirsty Baigent and Olivia Stevens from Mount Chase Pharmacy.

Angry Lostwithiel traders fight back: Mike Dobbie, vice- chairman of the Lostwithiel Business Group, Mat Connolley of Iteracy, Kat Smith from Transition Lostwithiel, solicitor Paul Bassett, Office Manager Joy Bassett, solicitor Peter Ripley, trainee legal executive Kirsty Baigent and Olivia Stevens from Mount Chase Pharmacy.

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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

enough transactions to be familiar with the conveyancing

process. A P Bassett Solicitors in Cornwall 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

Services.

Liberal Democrat MP for North Cornwall 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

investigate.

A P Bassetts are campaigning because they see this as a serious issue that will

impact not only on consumer choice, but also the towns where local law firms are being forced to close and borrowers 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: campaign@banksbad4biz.co.uk

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2 comments

  • banksbad4biz  |  February 18 2013, 11:42AM

    Vince Cable the Minister for The Department of BIS says that small businesses are vital to the growth of the economy and one of their main objectives is to remove the barriers that prevent their growth. The banks in this case, are a barrier to the growth of small local firms. With access to justice already an issues, where are people expected to go? You are welcome to sign the petition and or leave a comment on our letter to Vince Cable... http://tinyurl.com/apm9qn8

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  • trudie2010  |  February 18 2013, 10:46AM

    I'd trust a small company above a large one nearly every time.

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