The Legal Services Act comes into force tomorrow and whilst we shouldn’t all need reminding of the need for high standards the fact remains that many are still burying their head in the sand.
Eddie Goldsmith, the Chairman of the Conveyancing Association (CA), has today called for serious conveyancers to ensure their standards are raised. The likely outcome if standards aren’t raised is that firms will be “left behind by the sweeping changes facing the industry”.
We are all aware of the mounting pressure for lenders to reduce the risk of mortgage fraud and as such Eddie believes that lenders will look for more assurances from conveyancers, as well as existing accreditation schemes such as the Conveyancing Quality Scheme.
“It’s now more than ever that firms who are serious about conveyancing need to sit up and take action. Lenders, insurers and the Solicitors Regulation Authority are all demanding more from our members at a time when volumes are low and competition is likely to increase. So it’s not enough to sit back and take a ‘wait and see’ attitude.
When we launched last year we recognised the challenges in the industry and we have since been joined by many more firms over the last 12 months to help them navigate the thorny problems they face in the current economic climate, from the Legal Services Act to new regulatory approaches.”
“The CA has been working constructively with all the organisations involved in these changes to mitigate the threats to our members and their businesses. We will continue this work in our second year and aim to increase the recognition among stakeholders of the quality work that our members perform.”
With the members of The Conveyancing Association continuing to grow 95 per cent of remortgage work is now carried out by CA members.
Will you be left behind or are you “sitting up and taking action?”
Today’s Conveyancer, bringing you the latest conveyancing news and updates.