Nationwide denies conveyancing panel cuts
Following on from Santander’s drastic panel cuts, Nationwide has also been criticised for making increased demands of firms in order to stay part of its conveyancing panel.
Unlike Santander, Nationwide have denied the accusations.
The building society has said they have not changed their criteria in the last three months.
Reports suggested that criteria had been tightened, asking for one case a week to be placed with the mutual.
Rules put in place, earlier in the year by Nationwide, state firms must carry out four cases a year in order to remain on the panel.
A Nationwide spokesperson denied that they have sent any letters removing firms from their panel since April and that they don’t know where the recent stories have come from.
They confirmed that they regularly review their solicitor panel. They said: “We want to consolidate our relationships with conveyancing firms who regularly act on our behalf, enabling us to better manage business risks, whilst still being mindful of the need for customer choice.”
They said that they make exceptions for rural or isolated areas.