CML urges re-think by Scottish solicitors on separate representation
Published: 19 June 2013 | Author: Bernard Clarke
The CML has highlighted its concerns over plans by the Law Society of Scotland to require the buyer and the lender in the same property transaction to be represented by separate solicitors.
Speaking at the CML Scotland annual conference in Edinburgh last week, CML director general Paul Smee said:
"We did not ask the Law Society of Scotland to change its rules and I can think of many reasons why this is the wrong way forward. I do not understand why mandatory separation is in consumers' interests."
Referring to the announcement last week by the Law Society of Scotland of a review into residential conveyancing, Paul Smee said:
"My concerns were redoubled yesterday when I heard of the Law Society’s review of residential conveyancing. Surely so fundamental a shift as the move to separate representation should not be contemplated in advance of this review. And I gladly offer CML involvement in the overall review so that our Lenders' Handbook can reflect its conclusions."
During his speech to the conference, Paul Smee re-iterated the CML’s support in helping to build a healthy Scottish housing market for the future. The conference was chaired by CML Scotland chairman, Iain Malloch, and the keynote address was delivered by the Scottish minister for housing and welfare, Margaret Burgess.