It is me or is everyone getting frustrated with Banks?  We need clarification when dealing with Conveyancing Practitioners.

The Conveyancing Industry in New Zealand has been in effect for 2 years. In Australia the Conveyancing Industry has existed for over 30 years.

In New Zealand the Solicitors also represent the Banks in either a sale or purchase settlement and the Bank pays no representation fee. The fee is incorporated in the fee charged by the Solicitor to the Vendor or Purchaser. Conflict of interest in my opinion.

Anyway the Banks who will allow Conveyancing Practitioners to act are Bank of New Zealand, New Zealand Home Loans, TSB Bank and Kiwibank. It is long overdue the other Banks – ASB, Westpac, and ANZ National Bank of NZ get with the program.

Furthermore it is the choice of the Vendor or Purchaser to use a Conveyancing Practitioner not the Bank to advise who must represent them.

Any opinions, comments or feedback greatly appreciated.