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I have been dealing with conveyancing transaction on a sep rep basis for some time now, and apart from some hiccups, have on the whole found the arrangement entirely satisfactory. I am much more comfortable that the lender has its own lawyers, and their interest are being looked after by someone else. I have always maintained that claims against solicitors are on the whole lender led, and therefore cannot understand the reluctance of the powers that be to continue the present arrangement.
as to the consultation that seems to have been carried out by the Law Society before determining to continue with the status quo, it would be interesting to know who they consulted with. I certainly was not consulted.
In view of the culls of lenders panels in the recent past, I am sure that a lot of smaller practices are already acting solely for borrowers and dealing with separate lender's solicitors.