ABS newcomer eyes conveyancing panels
A conveyancing sole practitioner has become an alternative business structure – in a bid to get on to lenders’ conveyancing panels. Nicola Phillips, who has run her own firm in Horsham since 2008, told the Gazette that her status as a sole practitioner has excluded her from panels including those of Santander, HSBC, Northern Rock and Bristol & West.
Phillips said she has made her mother, who has worked at the firm doing consultancy and management, a partner.
Phillips is currently in the process of applying for the Law Society’s Conveyancing Quality Scheme accreditation, which she hopes will also help her expand her business. If things go well, she hopes to be able to employ another solicitor.
Since last week there has been one other ABS licensed: Cheshire-based personal injury firm Accident Advice Solicitors. This took to 29 the number approved by the Solicitors Regulation Authority.