The Conveyancing Association and today's challenges in the conveyancing sector

By Eddie Goldsmith, Chairman of the Conveyancing Association

Over the coming months we will continue to hear about the impact the full implementation of the Legal Services Act will have on the residential property market, including the introduction of ABSs, which could change the way consumers buy their legal services. But this isn’t the only challenge on the horizon; lenders are already beginning to reduce the number of firms on their panels, we are seeing a steady stream of new regulatory and legislative requirements making compliance ever-more challenging and the recent restriction of the solicitors’ PII market has created a perfect storm for change.

The multitude of challenges facing the industry is precisely why the Conveyancing Association (CA) was launched last autumn. We are the only trade body in the sector which specifically represents the interests of both licensed conveyancers and solicitors firms in the UK who fall into the category of ‘Serious Conveyancers’. Since the launch, the CA has developed a significant presence in the residential property sector and has expanded its membership of like-minded companies, which now includes the majority of the UK’s major conveyancing firms. We estimate that our current membership carries out more than 10 percent of conveyancing work relating to property transactions and 67 percent of remortgaging work.

Members of the CA know only too well the pressures facing the conveyancing industry, but as the old adage goes, where there is change, there is also opportunity. In this changing climate lenders and estate agents will want to work with conveyancers who offer a superior service, who can demonstrate high quality standards, competence and probity of staff, financial stability, and good management. Conveyancing firms who are therefore serious about their future, have the opportunity to demonstrate they can readily meet these requirements. This will go a long way in improving the confidence of lenders and consumers in the integrity of services provided by the profession.

But it is easy for companies to get drawn into a debate about the threats and challenges, when what we really need to do is focus on action. The next 12 months will be a busy time for the CA as we prepare to meet with lenders and stakeholders, engage in industry consultations and work to shape the environment we work in. Professionals in the sector whose service delivery includes conveyancing are urged to join us as we continue on our journey in this changing landscape.