Stronger regulation of the high-volume, low-value conveyancing sector will be required to ensure the success of reforms aimed at improving the speed and efficiency of the conveyancing process, says CILEX President Sara Fowler (pictured).
It adds that a review into the current fee structure for conveyancing work is also needed to ensure that the quality of advice is not sacrificed in the move to a more streamlined service.
Substantial pressure
CILEX highlights the “inefficiencies and process bottlenecks” caused by high-volume, low-fee operating models that place conveyancing lawyers under substantial pressure, as well as the “frustration and disjointed communication” that can occur between different representatives in complex chains.
It also wants a review of conveyancing fees to support the reforms, with changes that enable firms not to over-commit to extremely high caseloads and so ensure the consumer is receiving the client care they deserve.
This, it says, alongside other measures, would mitigate against the “unprecedented strain, relentless workloads and tight profit margins” faced by many conveyancing lawyers.
In addition, CILEX is calling for an urgent review of referral fees, claiming many estate agents are not adhering to transparency requirements, to the “detriment of consumers”.
The Government’s proposals offer much-needed change to the sector, but if the reforms are to be a long-term success, we need to see strong regulation and education.”
Fowler says: “We need a faster and more reliable conveyancing process that keeps pace with technological advances, holds all professionals involved to high standards and engenders the trust and confidence of consumers.
“It is imperative that in pursuit of speedier transactions, there is no compromise on quality of service and that consumers get the expert advice they need.
“The Government’s proposals offer much-needed change to the sector, but if the reforms are to be a long-term success, we need to see strong regulation and education, a review of current fee structures and transparency on referral fees to ensure that consumer protection is at the heart of these reforms.”
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