Press Release

Law Society proposes IT revolution for residential conveyancing process

30 June 2009

In a landmark move the representative body for solicitors is conducting a consultation into the handling of conveyancing transactions from start to finish. The aim is to establish ways to improve the process to benefit the public.

The move comes at a time of unprecedented challenges in the housing market as a result of the economic downturn. These challenges combined with the creation of alternative business structures, increasing anti-money laundering requirements and separate security demands from the Land Registry, changing client expectations and new technology, are changing the environment within which solicitors practice.

The consultation seeks the views of solicitors on how the conveyancing process can be improved. Solicitors have a pivotal position in residential conveyancing, with their professional duties at the core of a process that demands action in the best interests of sellers, buyers and lenders and which retains the confidence of all parties. Solicitors are in the best position to bring the necessary legal expertise to this complex process.

The Law Society is continuing to support solicitors by providing representation and practical support, which is particularly vital at a time when many of its members have been impacted by the slowdown in the housing market. The Law Society is keen to support solicitors in maintaining their leading role in conveyancing by enhancing the process with an effective IT solution.

The Law Society is building on its unique experience and expertise in the home buying and selling process by reviewing the way in which some of the elements of the process work, such as moving away from the principle of "caveat emptor" or "let the buyer beware". It is considering the provision of estate agency services alongside conveyancing services and, developing ways for a solicitor to take on a role where they can help combat fraud and identity theft in the housing market.

The Society is suggesting that by refreshing its highly regarded and well established protocol and forms into a bespoke membership scheme provisionally called "TransAction Plus", it would meet the modern requirements of consumers. The scheme, supported by an electronic conveyancing portal, would maintain and enhance quality for the longer-term. The consultation paper explores all these options and asks solicitors a series of questions.

Paul Marsh, Law Society President, said: "It is essential to the security and smooth operational working of the home buying and selling process that solicitors remain at the heart of residential conveyancing. Building on the high standards of solicitors, embracing technology and moving ahead of the times will help to achieve that aim. The Law Society is considering some radical ideas which need to be faced head-on. Solicitors have demonstrated their versatility and commitment to change. It is important that we build upon the services provided by the profession in residential conveyancing, and challenge some basic assumptions, whilst continuing to ensure that consumers have access to the integrity and expertise that underpin the whole process. The profession should continue to shape the future of the home buying and selling process by embracing the opportunity to develop new solutions to help the consumer. There are challenging questions for the profession. We urge all conveyancing solicitors to utilise their wide experience to join in this debate. "