tm blog

Yesterday saw the first live CPD event of our educational programme, which was hosted by TM Group and Lockton Companies at Clifton Pavilion - a wonderful Victorian building that adjoins Bristol Zoo.

Property Law; A Risky Business was a complimentary CPD event designed to ruminate upon the forces at work in conveyancing that pose the biggest risks to your firm.

Our selection of expert speakers also offered advice on how to prevent and deal with those risks. The day was a complete success and indeed, some interesting early feedback from one of the delegates confirmed that the session had been "scarily useful!"

Supply and Demand

As we enter 2014, the property market is looking its healthiest for years. Persistently low interest rates, falling unemployment and the Government’s ‘Help to Buy’ scheme have unleashed a generation of pent-up first-time-buyers on the market and HMRC are reporting that transaction volumes are at their highest since 2007 (graph below) whilst the Bank of England’s forward guidance sees interest rates remaining at record lows.

Lockton Companies have joined forces with TM Group to present

Property Law; a risky business

Thursday 13th February 2014

Bristol Zoo, Clifton, Bristol BS8 3HA
 

Residential and commercial conveyancing accounts for more claims than any other work-type.

Residential and commercial conveyancing work undertaken by solicitors accounts for more claims against the profession, by number and value, than any other work-type.

This is not some statistical bias arising from the sheer volume of property transactions. Claims consistently account for a higher percentage of fees earned than any other practice area, by a significant margin. Lockton’s Work-type risk profile chart – which is compiled using data from a range of solicitor PI insurers – consistently places Commercial Property and Residential Property work as the two highest risk areas of practice.