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Thanks Chris.

I missed one important point: small firms will be excluded from lender panels if these proposals go through, reducing consumer choice and forcing clients to accept a lender's nomination of solicitor or pay two sets of fees.

The Minimum Terms and Conditions give lenders comfort which they will not derive from top up insurance (a) because the firm may not have that level of cover when a claim is made after the policy year in which the work is done and (b) may contain onerous provisions, for example only covering claims made and notified during the policy year, or excluding cover where a member of the firm has concealed their error resulting in failure to notify circumstances.

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