LARGE MORTGAGE LENDERS AND SMALL SOLICITOR FIRMS

Early day motion 1187, tabled 13 December 2010 by Mark Durkan (Social Democratic and Labour Party). Signed by 21 members.

That this House regrets the decision by some larger mortgage lenders to reduce the number of firms on their panel of conveyancing solicitors; notes that this entails removing some firms which have served on such panels for many years; is concerned that small and local firms appear to be the targeted casualties of this change; recognises that this has a direct and adverse impact on the ability of clients to choose which solicitor acts on their behalf; is further concerned that these large mortgage lenders may extend such restrictive conditions on clients in respect of other transactions including paying off a mortgage, transferring equity to family members, changing a mortgage, selling a house or checking deeds; and calls on Ministers to intervene to uphold rights of client choice as well as the professional standing and competitive rights of small and local solicitor firms.

Signatures by party: Labour 10, Liberal Democrat 3, Social Democratic and Labour Party 3, DUP 2, Alliance 1, Conservative 1, Independent 1.