and this time it's Barclays that's determined to cause more hassle and time-wasting for clients looking to buy properties.
For years, when it came to buying properties, solicitors have had to represent both their clients' interests and the lender. What must have seemed a good idea at the time, has rapidly descended into frustration and conflict with clients often frustrated that their requirements may not match the needs of their lender.
However, in recent months, the landscape has changed and banks, determined to exercise even more control over the property market, have decided they are going to dictate to clients which lawyers they can use to represent them.
HSBC broke ranks in January, by selecting about 40 companies across the country that could act for them. The result has been slowed transactions, frustrated clients and even more frustrated solicitors who are attempting to get deals through. The upshot of this, is that when estate agents hear clients mention that fateful four letter word, they prepare themselves (and their clients) for a protracted and painful process.
However, despite the bad press that HSBC have been receiving, it seems that Barclays (who are themselves no stranger to making controversial decisions) have decided to follow a similar route. They have taken the decision on Monday (although not officially yet) that they will dictate which law firms can represent them independently.
However, they make HSBC's choice of 40 lawyers look remarkably generous, compared to the number that they are alledgedly allowing to represent them. Namely, ONE. Yes - only one firm will be handling all Woolwich mortgage cases where the lender is not being represented by the client's solicitor.
Given the delays and backlogs caused by HSBC's actions when they had 40 law firms, we think that possibly, Barclays might be a little optimistic when it comes to processing their cases through a single firm.
And the final kicker - Barclays have decided that this new procedure will apply to ALL existing cases.
Need we say more?
