Many firms struggling with low volumes

Statistics last week produced by Land Registry last week show that 29% of the 4394 account holders firms that made an application for a transfer for value to the Land Registry in May made fewer than 3 applications.  Many more account holders appear to have made no applications at all. As conveyancers will know applications to Land Registry for transfers for value are invariably but not always purchases.   

Just over 3000 account holders made 3 or more transactions and just over 2100 firms conducting more than 5. 

Whilst many conveyancing firms don’t like the word “dabbler” there must be a question about how a firm that conducts so few conveyancing purchase transactions is able to adequately manage the knowledge required not only to be a conveyancer but to meet the regulatory burden of outcome focused regulation.   It would appear that many firms are clinging on hoping that market conditions will improve.

The top ten firms conducted 9.7% of applications and the top 100 firms conducted 26%.  These figures are broadly in line with the spread across the sector in March 2012 which had seen a slight contraction on March 11 in terms of the spread of work. 

For the first time in months Countrywide Conveyancing the large estate agency owned licensed conveyancer overtook My Home Move for the top spot with Countrywide conducting nearly 1300 applications.  Earlier this month Sue Spurgeon their Chief Operation Officer won the Mortgage Introducer Conveyancing Business Leader of the year award. 

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