Financial Services: Conveyancing

Business, Innovation and Skills written question – answered on 7th March 2012.

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Photo of Graham Brady Graham Brady Chair, Conservative Party 1922 Committee

To ask the Secretary of State for Business, Innovation and Skills if he will take steps to ensure that shared equity schemes subsidised by the taxpayer cannot be operated by banks or financial services firms that operate restricted panels of conveyancers.

Photo of Mark Hoban Mark Hoban The Financial Secretary to the Treasury

I have been asked to reply on behalf of the Treasury.

The Government are aware that several banks have recently made changes to the membership of their conveyancing panels.

Commercial decisions remain a matter for the boards of banks and building societies, and the Government do not seek to intervene in these decisions.

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