Scottish conveyancers have voted against the introduction of separate representation for borrowers and lenders – having initially called for it. At an SGM of the Law Society of Scotland yesterday, 847 were against a rule change to the conflict of interest rules while 671 were in favour.
Scotland’s largest law firm conveyancer has entered the separate representation debate, critiquing the move as “politically motivated, opportunistic, regressive” and “anti-competitive”, and a “calamity” for solicitors and consumers.
The country’s first alternative business structure and largest conveyancing business revealed strong annual results yesterday. Premier Property Lawyers – which became an ABS on 6 October 2011 – is part of My Home Move, which also has a panel management operation.
The Law Society’s conveyancing quality scheme and lender-specific requirements amount to double regulation of lawyers and there needs to be a sector-wide effort to resolve the problem, the Council for Licensed Conveyancers has urged.
Countrywide plc has reported a “promising first half trading performance” for its conveyancing division, with income up 4% and earnings 12%. Countrywide Property Lawyers is an alternative business structure regulated by the Council for Licensed Conveyancers.
Lender panels, rather than alternative business structures (ABSs), are the main threat to conveyancing businesses, new research has found. Interest among conveyancers in becoming an ABS also appears to be falling.
Online search provider and conveyancing technology specialist, ETSOS, is celebrating the first birthday of its free-to-use Quotation & Referral System (QRS) with news that monthly usage levels have more than trebled in the past six months.
3 Peaks, 25 miles, 7000ft incline in under 12 hours. That’s all it took PSG members to complete the Yorkshire 3 Peaks Challenge.
In-deed Online plc – the first listed company to buy a law firm – is now set to become the first alternative business structure (ABS) casualty after announcing plans to sell the practice back to one of its founders along with the rest of the online conveyancing company’s business.
The defence protecting honest solicitors duped by mortgage fraudsters that was erected by the Court of Appeal last year has been reinforced by the High Court. A law firm can be relieved of consequential liability for a breach of trust if it acts honestly and reasonably.