First Direct Conveyancing Panel
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First Direct Part-Exchange Purchases: What Conveyancers Must Report
First Direct changed its developer incentive reporting requirements on 30 September 2026. For a purchase involving part-exchange of the buyer’s existing property, the financial incentive reporting threshold is now 3% of the purchase price. Where there is no part-exchange, the threshold remains 5%. The change appears in First Direct’s England and Wales Part 2 answer…
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CLC Firms Achieve Parity When it Comes to First Direct Panel
The Council for Licensed Conveyancers (CLC) has confirmed that the First Direct conveyancing panel is now open to Licensed Conveyancers on the same basis as solicitor firms that are members of CQS. Transaction value limits are as follows: Sole practitioners: up to £350,000 Two-partner firms: up to £2m Four-partner firms: up to £3m Separate legal…