Abbey Mortgage Warning |
Readers should be aware that The Abbey has recently removed over 7,000 solicitors from its list of approved members. The move came as a complete surprise to the solicitors who were removed.
Whilst we as customers pay the solicitors conveyancing fee, the mortgage lender normally lets the solicitor handle its side of the conveyancing process.
For customers who are setting up an Abbey mortgage and attempt to use one of the solicitors who has been removed, they will be asked to pay for a different solicitor to cover the bank’s interests.
The Law Society, which represents solicitors, is meeting with the Abbey to raise its concerns with the bank.
For the moment, it would be wise for potential Abbey customers to check whether their intended conveyancer is currently on the Abbey’s list of approved solicitors.
