Goldsmith Williams scraps broker introductions

In a note to brokers the firm said: “Following a recent review of operations we have taken the decision, in the best interests of our clients, to re-focus on lender-introduced business only.

“Whilst this means that we will unfortunately no longer be able to take instructions directly from brokers and introducers, we will continue to work alongside the broker market through our lender connections.”

Eddie Goldsmith, partner at Goldsmith Williams, said: “We’ve recently reviewed our operations and recognised that we now have an opportunity to continue to develop our services so that they are even more closely aligned to the lender’s and in so doing deliver a highly specialised service in the areas of residential conveyancing, remortgage and bridging.

“We believe that this decision is in the best interests of our clients since it will enable us to overcome any future capacity issues.”

Goldsmith’s key partner is Precise Mortgages but the firm has also been approached by two “emerging” lenders looking to bolster their legal support.

Goldsmith added: “By refining our proposition this way we will continue to provide a specialist service to brokers and packagers across the industry.”

Harpal Singh, managing director of Broker Conveyancing, said: “Whilst I am surprised it is not a complete shock. Some conveyancers are in a position to pick and choose their introducers as the market has improved.

“But I believe that brokers are extremely important conveyancing introducers and I’m sure all of the firms in our panel agree.

“To be blunt, we wouldn’t have a business without mortgage intermediaries. I do not believe many conveyancers will follow Goldsmith Williams’ example.”

And David Gilman, partner at conveyancing firm Blacks Connect, added: “While we continue to thrive and grow through our lender, estate agency and commercial conveyancing relationships, our doors are very much still open for our brokers and introducer’s - both existing and new.

“We look forward to continuing to grow our relationships with Introducers following the successful launch of Blacks Connect in 2012.”

Goldsmith Williams says it will honour all instructions where the mortgage has been issued.

Brokers with an application with a lender which has not yet been issued (and where the instruction is to come from the broker and not the lender themselves) will need to change solicitors.

The firm was founded in 1984 by Edward Goldsmith and Christopher Williams. In 1986 Simon Cottrell joined the firm as its third partner.