It is unfashionable to suggest that the problem the profession faces in conveyancing is too many solicitors chasing too few transactions.

That is, however, the crux of the matter.

But it does not mean that nothing can be done to improve the situation.The property and commercial services committee issues paper will be hitting your desks this week.

It informs the profession about all the issues and suggestions which have been thoroughly discussed in Chancery Lane over recent months.

Please read it and respond with your views.Many people will be disappointed that the paper does not provide a magical solution to our problems.As the paper was going to press it became apparent that the proposal to strip conveyancers charging below a guideline fee of the cover provided by the Solicitors Indemnity Fund would not provide the answer.

A report by the brokers, Minet, showed that most conveyancing is now done at 'low cost' -- defined as £250 plus 0.5% of the value of the property.

It concluded that the open indemnity market would not touch conveyancing, regarding it as too high a risk.My one big fear is that the only result of the conveyancing debate over recent months will be higher indemnity premiums for conveyancers, making conveyancing even less profitable.

We must try to ensure this does not happenI hope that it will be possible for the Law Society to publish guidance to the profession and the public about fee levels for conveyancing transactions.

I am heartened by straw polls taken at a number of local Law Society meetings recently that practitioners consider such guidance would be useful.

We have every right, as a professional body, to advise our members how to ensure that they are running their practices profitably and to tell our potential clients what is involved in a conveyancing transaction and what it is likely to cost.

Therefore, it is vital that you complete the questionnaire at the back of the issues paper to help us give such guidance.However, there is something we can all be doing in the meantime.

Annex 2 of 'Adapting for the future' sets out guidance for local Law Societies and other groups of conveyancers for meeting to discuss levels of charges.

This advice has been approved by the Office of Fair Trading.

These meetings have proved very helpful in a number of areas.You cannot and must not agree a minimum fee or an agreed scale of fees.

You can, however, discuss what it actually costs to run your practice locally and the time it takes to do an average conveyancing transaction.

Invite any licensed conveyancers who practise in your area.

They are affected just as much and have an interest in remaining profitable.

Do make sure everybody at the meeting has a copy of annex 2 of 'Adapting for the future' so that everyone is clear about what can and cannot be agreed.There is a limit to what the Law Society can do on our behalf.

The solution lies, to a certain extent, in our own hands.

Let us have the confidence to go for it.