Conveyancers and lenders – a tricky relationship?
The recent Conveyancing Matters chat about what conveyancers do and our follow-up poll on the lender’s Certificate of Title generated interest and comment and prompted Stu and Lorraine to think about the relationship between conveyancers and lenders.In most conveyancing transactions the conveyancer will also act for their buyer client’s lender. But with the increased risk on many conveyancing files and our duty to report to lenders, should we regularly be acting for buyer and lender in the same transaction? Or is the prospect of a conflict-of-interest just too great?Do you ask your buyer clients if they have been put on furlough or are facing redundancy prior to exchange of contracts?Do you decline to act for a lender if you recognise a conflict-of-interest? Lenders are our clients as well, but Stu and Lorraine wonder whether we are reaching the point where separate representation might be more appropriate.What do you think?Remember, this is just a chat and our opinions, not advice!Find our podcasts on YouTube, Spotify and apple podcasts. http://www.adaptlaw.co.uk/http://www.pcslegal.co.uk/