Property

The legal services market will continue to grow in 2024, hitting a turnover of £50bn with a “resilient” corporate law sector boosted by “stronger economic conditions” later in the year.

A Yorkshire alternative business structure founded in 2019 by a solicitor and non-lawyer has grown its turnover from £500,000 in year one to £7m as it expands its range of services.

Conveyancers have “a central role” in realising a digital home buying and selling process but innovation needs to happen at a greater pace, the housing minister said last week.

The Solicitors Regulation Authority has this week issued fines totalling nearly £50,000 to two law firms and a solicitor over various breaches of anti-money laundering rules.

A chartered legal executive who failed to check the identity of a walk-in client who said the firm had acted for him in the past has been rebuked by the Solicitors Regulation Authority.

Upfront information and accelerating the use of emerging technology such as AI are among the priorities that the Digital Property Market Steering Group has pledged to progress this year.

HM Land Registry is working with mortgage lenders to ensure they no longer need to chase conveyancers for updates on the progress of registration applications.

A partner who failed to conduct proper client due diligence in property transactions that had signs of money laundering has been fined £15,000.

A solicitor whose failure to comply with multiple undertaking he gave caused significant losses for investors in two property developments, has agreed to leave the profession.

A law firm specialising in wayleave agreements has obtained Ofcom code powers to support the roll-out of full-fibre broadband through its sister company in what is believed to be the first move of its kind.