Evans: Welcome decision
UK Finance has backtracked on its plan to charge conveyancers £50 per user to access the Mortgage Lenders’ Handbook, in the face of a furious reaction.
A spokesman said: “Following further engagement with our members and users of the Mortgage Lenders’ Handbook, we have decided to retain the current approach of providing free access for conveyancers for the foreseeable future.
“We are continuing the work to launch the new and improved handbook in early March as planned.”
UK Finance said earlier this week that a new platform for the handbook would be launched in March, when “generic” logins would be discontinued and access would only be possible through individual user accounts.
During the first three months, until 1 June, access would be free, but after that an annual charge per user of £50 plus VAT would apply.
This was widely condemned by conveyancers and their representative bodies across the UK, with Simon Law, chair of the Society of Licensed Conveyancers, saying: “UK Finance is effectively telling conveyancers: pay us if you want to follow your client’s instructions. This is absurd. No other profession is charged to access mandatory instructions from its own clients.
Responding to the u-turn, Law Society president Mark Evans said he was “delighted” that UK Finance had listened to the sector’s concerns.
“We commend UK Finance for reacting swiftly to the strength of opposition against the proposal to introduce a charge, including from the Law Society on behalf of our members.
“We will now work with UK Finance to support conveyancers as the new system is implemented on 2 March.”
A CILEX statement said: “Our members will be relieved at the swift decision by UK Finance and we’re grateful to them for listening. We now look forward to working with them as the new handbook is implemented.”
The Society of Licensed Conveyancers said the decision “demonstrates the strength and impact of a united profession”.
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