Diary of a High Street Conveyancer – Specialisation lends itself to increasing fees
Summary
The article argues that conveyancing firms should resist cutting fees in a slowing market and instead invest in staff, processes and specialisation. It highlights increasing regulatory pressure, stricter AML expectations, lender requirements, proposed updates to the Law Society Protocol, and anticipated reforms affecting commonhold and reservation agreements.
Why it matters
Residential property surveyors work alongside conveyancers in transactions that are becoming more complex and process-driven. Changes in conveyancing practice can affect transaction timescales, enquiry handling and the overall efficiency of property sales and purchases.
Key points
- Market slowdown is prompting some firms to reduce fees, but the author argues this is counterproductive.
- Conveyancing is becoming more specialised due to regulation, AML requirements and lender demands.
- The Law Society is updating the Protocol, with proposed changes to enquiries noted positively by the author.
- Commonhold reform and possible reservation agreements may require staff training and process investment.
- The article recommends charging appropriately and investing in staff to reduce pressure and improve long-term resilience.
Organisations:
The Law Society, Today’s Conveyancer
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