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Abbey trims conveyancer panel

Abbey has trimmed just over 6,000 solicitors and conveyancers from its residential mortgage panel.

The lender says following a recent review of its panel it has written to 6,000 of its 24,000 firms to tell them it will no longer be needing their services.

A spokesman for Abbey says: “Following a recent review of our residential mortgage conveyancing panel, we can confirm that we have written to a number of firms that have undertaken few or no transactions with it over the past year to advise them that we will be removing them from our panel.

“This reduction will enable us to streamline the panel of solicitors/conveyancers that we work with going forward. We have put in place a process to deal with requests for reinstatement and each request will be evaluated on its merits.”


Warning not to ignore internet benefits

Evaluate Technologies claims that brokers who fail to harness the opportunities presented by the internet could be hampered in the future.

First-time buyer queries dip 3%

Adviser search website says it saw a 3% fall in queries from first-time buyers, dipping from 44% in January to 41% in February. By contrast, remortgage and residential purchase deals were static over the two months at 35% and 19% respectively. But equity-release increased from 4% in January to 7% in February and buy-to-let […]

Out of order

In a private note to clients, apparently investment bank Numis Securities has warned the UK will be bankrupted by the government’s bailout policies and that house prices could fall a further 55%.

Support for FSA to regulate secured loans

Loan Options says it supports the Association of Finance Brokers’ call for the Financial Services Authority to regulate the secured loan market.

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