The cull by lenders of their conveyancing panels is set to continue.
Conveyancing Alliance, an online conveyancing distributor, said that many local and family solicitors have lost their places on the panels, allowing only specialist conveyancing firms to remain if they can continue to meet standards and deal with significant volume.
Harpal Singh, managing director of Conveyancing Alliance, said: “The conveyancing market is changing rapidly and recent research shows how quickly lenders 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.
“Mortgage 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 panels.”