Greater use of digital processes, evolving lender requirements and government measures to improve the home buying and selling process have prompted the Law Society to update its conveyancing protocol for the first time since 2019.
The protocol is the Society’s framework for good practice in residential conveyancing, outlining day to-to-day expectations between firms, clients and lenders throughout a transaction. It is a core requirement for Conveyancing Quality Scheme accreditation.
Key changes include recognition of current digital practices such as identity verification and document exchange, practical issues commonly encountered in leasehold transactions and new provisions to reflect commonhold properties, and stronger guidance on fraud prevention and cyber security.
Proposed updates include telling the conveyancers for the buyer to make clear the matters they will not be advising on. Buyers and sellers should be asked if there are any deadlines or commitments that might affect the sale, such as school moves, new employment, holidays and mortgage expiry dates. Conveyancers should be satisfied about source of funds and wealth.
The Society said the protocol is intended to reflect the realities of modern conveyancing practice. Members’ feedback ensures the protocol remains relevant and useful.
The consultation closes on 14 January.
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