The biggest conveyancing firms have benefited the most from the recession, while the number of practices involved in conveyancing has continued to fall, a survey has revealed.
Over 5,600 law firms have signed up to Lender Exchange, a website which stores information on conveyancing panel firms for mortgage lenders.
The Council for Licensed Conveyancers (CLC) has criticised “quasi-regulatory” conveyancing schemes launched by the Law Society which could be seen as “duplicating” the CLC’s work.
National Accident Helpline has today unveiled its move into the conveyancing market by spending £4.3m to buy a lead generation business specialising in the sector that owns the website of failed alternative business structure In-Deed.
A major survey of 4,500 home movers has found that only 13% chose the conveyancer offering the cheapest fee. The survey also found that people were more likely to recommend their estate agent to friends than their conveyancer.
A third law firm has been fined by the Solicitors Regulation Authority for its involvement in a stamp duty avoidance scheme operated by Inventive Tax Strategies.
The Solicitors Regulation Authority has closed down a Manchester law firm, more than four months after banning its director from conveyancing and ordering him to go on a mortgage fraud and money laundering course.
The Law Society has failed in a bid to block a High Court action against it for negligent misrepresentation, after a bogus solicitor got himself listed on the society’s Find a Solicitor website and stole money from a house purchaser.
The Solicitors Compensation Fund could be hit by a new wave of property claims after a High Court ruling on two test cases relating to a buy-to-let scheme.
The Supreme Court has backed a law firm’s arguments that, following a breach of trust, it should have to pay in damages only the amount which the lender would have lost if the breach had not occurred.