The Council of Mortgage Lenders’ director general Paul Smee has reiterated the CML’s support in helping build a healthy Scottish housing market of the future.
However, speaking at the CML Scotland Annual Conference yesterday in Edinburgh, Smee (pictured) also highlighted concerns about the Law Society of Scotland’s plans to introduce separate representation.
He said: “We did not ask the Law Society of Scotland to change its rules and I can think of many reasons why this is the wrong way forward. I do not understand why mandatory separation is in consumers’ interests.
Following the announcement by the Law Society of Scotland last week of a review into residential conveyancing, Smee added: “My concerns were redoubled yesterday when I heard of the Law Society’s review of residential conveyancing. Surely so fundamental a shift as the move to separate representation should not be contemplated in advance of this review.
“And I gladly offer CML involvement in the overall review so that our Lenders’ Handbook can reflect its conclusions.”
The 2013 CML Scotland Annual Conference was chaired by CML Scotland chairman, Iain Malloch, while the keynote address was delivered by Margaret Burgess, Scottish Government minister for housing and welfare.