Law Society criticises Santander panel membership charges

Law Society criticises Santander panel membership charges

We reported earlier today that Santander would be re-opening their conveyancing panel membership and introducing annual fees for compliance checks.  You can read the story here.
A spokesperson for the Law Society comments on our story:
“It is deeply disappointing that Santander has taken this decision to charge firms a fee to apply to its panels with the minimum level of discussions about alternative solutions. This is an area where, in the interests of all parties, there needs to be uniformity of approach throughout the lending community.
Santander has yet to take up the Law Society’s offer to discuss how the information they are seeking from firms could be gathered, ultimately through the Conveyancing Quality Scheme, without cost implications. The wider mortgage lending community has shown a genuine commitment to working with the Law Society over the issue of panel membership.”
What do you think about lenders charging fees for panel membership?
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