Land Registry has provided Today’s Conveyancer with a list of the number of applications per firm for transfers of value in September. For a link to the top 25 in the list click here
Whilst nearly 5700 firms made application to Land Registry only 2865 made more than 5 applications in the month to Land Registry. Once again this demonstrates the fragmented nature of the conveyancing sector.
With the advent of Alternative Business Structures next year, the additional costs of the Law Society Conveyancing Quality Mark, panel pressure generally and the cost of insurance we do wonder how quickly this sector is now likely to consolidate.
Heading the applicants by number were licensed conveyancers owned by Countrywide the estate agency business and My Home Move the private equity backed business which uses off shoring to India to support its business. These two firms made significantly more applications than their competitors with 846 and 694 applications respectively.
The largest solicitors practice was O’Neill Patient Solicitors from Stockport who made 327 applications in September. Sue Brown of O`Neill Patient said “like many firms we have found the last couple of years tough but it is good to see that we are clearly providing an excellent quality of service as we continue to make a good number of applications to Land Registry each month.”
It is also interesting to see Friday’s Property Lawyers who have recently recruited Tom Horrocks conducting over 200 applications as they source virtually all of their work from the internet.
With a total number of transfers for value in the month of September only just exceeding 64,000 applications it is clear that the market remains significantly depressed and many firms are operating at sub optimal levels of work.
If you want to receive a full copy of the list please email [email protected]
who will provide the full list each month for a year at the cost of £30 plus VAT.