Conveyancers must enact 'radical' change to survive, says Chancery Lane
The Law Society has warned conveyancing solicitors that they will need to consider ‘radical’ change – such as increasing their liability – to ensure they retain a ‘sustainable commercial role’ in the property market.
Pledging Chancery Lane’s support for conveyancing solicitors, chief executive Des Hudson questioned whether the market would continue to pay lawyers’ rates for work related to the transfer of title.
Hudson told delegates at the Society’s property section conference: ‘We’re looking at what [we] can do to create a sustainable commercial role for conveyancing solicitors in the rapidly changing climate of the 21st century property market.’
One option, he suggested, might be for solicitors to take on more liability by increasing the role they played in certain due diligence aspects of the conveyancing process, which he said would make them pivotal to the Land Registry and to lenders.
‘There is a lack of clarity regarding a solicitor’s duties to the Land Registry and others in respect of identification and other conveyancing issues. It seems to me that this a need the market wants to see addressed.
‘Rather than simply assume we do not want to increase our liability, one option would be for solicitors to take on a greater role in these aspects of the process,’ he said.
Hudson said it was a difficult area that would require detailed consideration: ‘It is clear however that taking on additional risk cannot be considered without appropriate compensation.’
He said the Society, which has just published the findings of its consultation on improving the homebuying process, is also looking into whether there should be separate representation for buyers and lenders.
Comments
Radical change for conveyancers
I don't know where Mr Hudson has been in the past few years. If he had been working in conveyancing and had attended his requisite CPD training hours, he would have understood the amount of responsibility which is placed on conveyancers, by lenders, the courts, indemnity insurers, the law society, and others, not to forget the clients!
The attempt to make conveyancing purely a "tick box exercise" is doomed to fail, and deservedly so. The law society needs to spread the word about the invaluable service which qualified conveyancers (solicitors and experienced legal executives) provide, not make practitioners feel that everything they do is wrong.
Radical change for Conveyancers
I agree wholeheartedly with the comments of Catherine Evans.
Having worked for three years at a factory firm where they attempted to carry out "tick-box" conveyancing on the cheap with unqualified inexperienced staff, with no consideration for customer service or accuracy, I can categorically state that is not the way for the profession to go. The Law Society should be giving more consideration to backing up those Firms within the profession who do carry out the whole conveyancing process professionally and competently, and look to reign in those Firms who seek volume over service.
Experience tells me that if they decide to try and go with the "quick" route, then Conveyancing will become a free for all and the Solicitors monpoly will be lost. As will many experienced competent conveyancers. I have more than 25 years experience, but the shocking things I saw at my last employers told me that if that is the way the profession is going, I want no further part of it.