View more on these topics

Brokers must provide clients with a choice of solicitors

From Alan Dring

In a letter last year (Mortgage Strategy December 11) John Sparks expressed dismay at the poor service provided by many solicitors undertaking free conveyancing on behalf of lenders and suggested that lenders need to give clients the chance to use their own solicitors.

I agree but suggest that brokers as well as lenders must provide their clients with a choice of solicitors. All too often brokers either fail to help their clients appoint a conveyancer, or base their recommendation on reciprocal arrangements.

In today’s era of Treating Customers Fairly it seems strange that brokers scour the mortgage market to find their clients the best deals but then give them a limited choice of conveyancing firms.

By using an online system brokers can give their clients a choice of solicitors based on cheapest price, location or user feedback. In most instances, intermediaries are able to arrange conveyancing services at a lower cost than clients could arrange for themselves.

Sparks will be delighted to learn that not only can solicitors’ service standards be tightly monitored but brokers and their clients can also track cases online.

Alan Dring
Sales director
eConveyancer
By email

Recommended

Underperforming firms to face FSA fines

Firms offering mortgage advice could face public censure and have fines imposed on them should they fail to improve their processes, the Financial Services Authority has warned.The warning follows the regulators wide-ranging review of over 250 firms advice processes, which has prompted the FSA to refer several of the firms assessed to enforcement after they […]

Rise will lead to more misery, says Lib Dems

The Liberal Democrat Party has hit out at the government in the face of the latest rate rise, arguing that 5.25% base rate will lead to more indebtness in the UKVince Cable MP, shadow chancellor for the Liberal Democrats, says: “The government has seemingly washed its hands of the whole problem of personal debt. “It […]

L&G to hold mortgage business forums

Legal & General will be holding a series of regional business forums for its business partner firms. The annual events take place in Manchester, London and Belfast on January 31, February 2 and February 6 respectively. Attendees will be able to share best practice, understand the impact of regulatory activity on their business and learn […]

Halifax contacts clients direct to arrange transfers

From Jason SimpsonMuch has been made of Halifax’s payment of proc fees for product transfers. But what has not been publicised is that it now has a call centre which contacts clients directly to arrange product transfers. I recently got an email from my Halifax BDM regarding clients with Halifax mortgage rates finishing on January […]

Newsletter

News and expert analysis straight to your inbox

Sign up