The bush telegraph is buzzing with stories that Lloyds Banks are to reduce the number of solicitors on their conveyancing panels on the basis of turnover. This is what was done in England earlier this year but with the assurance that there were no plans for a similar cull in Scotland. Instead we were to jump through a largely pointless hoop called ARTL which we duly did. This story will no doubt be updated in due course but members are invited to intimate to this page any news or views relating to the issue.
8th November 2010
We have now been told that the ARTL process is far from pointless but is the best and possibly the only way ahead for the conveyancing process because of its capacity for speed, economy and, most impoprtant of all, security. However, ther pointlessness remains in respect that, in July, Lloyds announced that there would be no removal of solicitors from the Scottish panel on grounds of low turnover but that Scottish solicitors wishing to remain on the panel would have to sign up for ARTL whereas Lloyds have now announced that solicitors will now be removed on gounds of low turnover which, for many, is simply a temporary (we trust) consequence of the same recession which took Lloyds into public ownership. It would therefore appear to have been pointless to have signed up for ARTL in order to remain on the Lloyds panel if one is to be removed from the panel on grounds of low turnover.