The success of local independent businesses is key to the growth of the economy
Dear Sir,
Big Banks Bad for Local Business
I wish to protest about the lenders recent decision to remove small local High Street law firms from their residential conveyancing panels. This means for many of the local residents in small towns buying a property with a mortgage, the local solicitor cannot act for them. They will have to use a bigger firm from another town or use an online conveyancing factory which does not offer the same level of service or value for money. I am therefore concerned about decisions that are being made in my name ‘The Consumer‘ that are affecting my right to choose.
This is not only bad news for consumers, but also for a town’s economy wherever a firm has to close down.
You say local independent businesses are vital to the growth of the economy therefore please consider separate representation mandatory for all conveyancers in order to keep local law firms in the High Street, or at least a public consultation on the conveyancing process and the role and responsibilities of the various stakeholders. If things continue as they are, many small town High Streets will soon be void of law firms. While access to justice is already a growing issue, where then will people go for accessible and affordable legal services?
Yours faithfully
Big Banks Bad for Consumer Choice & Local Business 
Kills local economies we s desperately need help
This is just another example of small local businesses being disadvantaged and many times driven out of business by the ‘big boys’. SAMS – small and micro businesses – need to be heard more by central and local Government. Bizitalk has a fast growing following of SAMS and we are doing our best to help them spread their message. Too much lip service is paid and not enough action. SAMS are the backbone of the UK. Ignore them at your peril.
Apart from the above comments which I totally agree with there is another very important factor. My local law firm will have alot of inside knowledge about the local area which could affect a person’s decision to buy. We had exactly that situation when we first moved to Cornwall and if we hadn’t used a local solicitor for the conveyancing we would never have known about future development, rights of way, ransom strips and so forth. The decision you are thinking of taking is yet another way the banks hope to profit from us. It is time they were reined in. Jenny Jefferies.
Another way in which banks are squeezing ordinary people and small businesses.
We have also been refused a re-mortgage (by 20+ banks/bsoc) on our property which includes a holiday let because if the banks had to foreclose they are afraid that we could prevent them because they could be accused of denying us an income even though the loan represents just 20% of the value of the property. This ruling could have a devastating effect on the south west in particular.
I am having to re-mortgage at a ridiculous interest rate because Lloyds are forcing me. They couldn’t run their bank without public help and yet they charge extortionate rates for mortgages, loans, valuations etc. and this time of year you can’t get to speak to alot of these people because they are at Christmas parties which are hosted by the banks at our expense. We need freedom to chose our representatives in life and not be pushed around by the local network cartel.
banks should not hold so much power? has no one in government learnt this yet?
The banks are holding this country to ransom, move your money to the Co-Op, at least they invest ethically!!
The banks have got to be reined in. They assume and have huge power over the people of this country. Government must step in and restrain their activities that they only carry out for their own interests and certainly not the interests of the average man in the street.
Why are lenders deciding which lawyers can provide legal advice to their customers?
Why are banks allowed to eliminate small law firms from the process altogether?
Is this fair competition? Is it in the interests of the home buyer?
What are the long term implications of banks encouraging cut price conveyancing by volume providers located miles away from the customer?
After all the problems with big banks, their illegal actions and dodgy investment decisions, why should they be allowed to offer legal services at all let alone prevent qualified, experienced law firms from offering the same?
As a practising accountant, I totally disagree with this policy for solicitors. No doubt we accountants will be next in line . . . and you want our votes at the next election ?????
We are lucky to live in a wonderful community in Lostwithiel, local businesses, doctors, dentist, library,etc. We treasure our community and as a local shopkeeper I try to support other business in this small town. Our local law firm is now under threat due to a new ruling being proposed to use law firms proposed by banks for mortgages. Please don’t pull the rug out from under these hardworking people who are so necessary to the wholeness of our town.
We need helpful, small firms where we can turn to locally in often not easy and personal circumstances. AP solicitors is such a firm, local solicitors are vital for the high street.
We have a small farm and self catering business near Lostwithiel. All small business likes ours help the communities to work together. Never forget small firms generate a good healthy life stile in Communities. Do not put another nail in the coffin and cut the small solicitors out as they play a huge role in supporting with their legal knowledge.
Don’t let the small Communities in rural areas die.
This is just another step towards our country becoming a nanny state. Why on earth would anyone trust a firm of solicitors to act fairly and honestly in their best interests when the solicitors have been forced onto them by unfair, dishonest, greedy banks who are only interested in protecting their undeserved excessively high wages and bonuses?
We should be allowed the right to choose for ourselves and the banks should remember that the small businesses are their paying customers just as much as the larger ones.
This should not be allowed to happen.
Once again the autocracy of government has spoken. Who do you really think your electorate is? Oh yes, sorry, the corporations and institutions, the government are ‘in bed with’, some of them don’t even pay tax, while politicians line their own pockets. The little man can only take so much before the worm turns. Legislate now before the erosion of decent hardworking communities, if you want our support at the election then you must return the favour by giving something back. Help the honest people and all local businesses, before it’s too late!
I have been on the receiving end of this policy and although we managed to get our solicitor accepted it involved time and paperwork to do so slowing up the process and just making life difficult.
As a consumer I resent this reduction in choice and the fact that once again Banks are calling the tune. This will undoubtedly have a knock on effect for local businesses and consumers are unlikely to receive the level of service they are entitled to.
Small businesses are the backbone of our economy and provide employment, active high streets and a focal point for local communities. If the Big Banks restrict the market available to consumers, everyone loses apart from the banks. Local businesses have local knowledge – very important when making the biggest purchase of your life!