The Conveyancing Alliance said that lenders will continue to cut out conveyancing firms that do meet the quality and volume they require, including many local and family solicitors, and instead relying on specialist firms.
It has urged all brokers to ensure they do not waste clients’ time by trying to place business with ineligible firms that have not maintained their position on a panel.
Harpal Singh, managing director of Conveyancing Alliance Ltd, said: “The conveyancing market is changing rapidly and recent research shows how quickly lenders in particular are opting for specialists in their field rather than keeping their panels open to as many solicitor firms as possible.
“The real focus now is on quality and volume, which is why many of the old school family firms are being cut from panels in favour of the specialist conveyancers.
“Advisers and brokers can play an important role in making their clients aware of these facts and ensuring that time is not wasted in attempting to use firms which are no longer on many lender panels.”
He added: “Panel culling is a process that lenders will continue to operate and we will see many more solicitor firms being squeezed off panel; therefore it makes sense for advisers to keep up to date with such changes by using a specialist in their field.”
