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Solicitors Vote to Retain System of Representation in Land Purchase Transactions

At a Law Society of Scotland EGM on 23 September  solicitors voted to retain the current system whereby the same solicitor can act for the buyer and the lender in a purchase transaction.

The proposal before the meeting was that the Law Society consider introducing a rule to prevent solicitors being allowed to do so, resulting in the lender having to instruct their own separate solicitors.

We believe that the vote to retain the current system is in the best interests of the consumer as it avoids additional cost and time in completion of purchase and sale transactions.