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The lenders should not be able to introduce an arbitrary limit unless they have statistics to back up the decision. Can they show that firms below this limit create losses for the lenders? I doubt it.

Yet another decision by senior managers with no real knowledge of the conveyancing process or the firms which carry it out. They are acting irresponsibly and they are not interested in giving good service to the public.
Taking small firms off their panel will cause considerable disruption to the conveyancing process, as many clients will only discover that their favourite conveyancer cannot act for the lender when the mortgage offer is issued.