tm blog

Wyre Forest District Council’s Land Charges Team hope to be implementing new software in March 2020, which will result in some changes to the information provided on our Local Authority Searches.

Wyre Forest's council's computerised records of Planning Refusals and Planning Withdrawn Applications does not extend back before January 2006 and Building Regulation Information does not extend back before 2012. Therefore, they will not be able to provide this information on any of their Searches.

From 2nd March 2020 the Full Local Authority Search will provide Planning Refusals and Planning Withdrawn applications from 2006 onwards and Building Regulation Information from 2012 onwards They will of course still provide a full Local Land Charges Register which includes all conditional planning approvals from 1974.

For clarification the LLC1 only requests will include the Land Charges Register but not Con29 information including Building Regulation Information as this is not contained within the Land Charges Register.

If you require details of Planning Refusals and Planning Withdrawn Applications prior to 2006 please email tsu@wyreforestdc.gov.uk

For details of building control applications, approvals and completions prior to 2012, in the first instance please refer to the owner(s) of the property. If they do not have details, you may make a request to this Council under the Freedom of Information Act. Please use the following link https://www.wyreforestdc.gov.uk/the-council/transparency-and-freedom-of-information/freedom-of-information.aspx

Please note that copies of building regulation applications, approvals and completion certificates are only available to the building owners or their appointed agents and at the discretion of the local authority. Evidence to prove ownership may be required.

We hope the transition to the new software will go smoothly, however if there are issues which effect the current turnaround times of within 10 working days Wyre Forest council will keep their website updated  https://www.wyreforestdc.gov.uk/planning-and-buildings/land-and-premises/local-land-charge-search.aspx

If you require further clarification or have any queries regarding this matter please email land.charges@wyreforestdc.gov.uk

In the meantime if you have any questions you would like to ask us directly in relation to this change, please get in touch with our friendly Client Support team on 0800 840 5571 or helpdesk@tmgroup.co.uk

Map Search has now been updated to include all of the ‘Data Layers’ found in Case Plan mapping – such as Local Authority Boundary, Listed Buildings, Highways.

You can obtain Indemnity insurance via tmconvey. Within a case under Services you have access to First Title and CLS

Draft quotes can be produced

Once ordered they are ‘on cover’ immediately and payment taken the same way as for searches – no need for separate payment

Contact your Account Manager for further information 

From Monday 16th March 2020 Groundsure will be including the data from the Mining Interpretive follow-on report into the CON29M original order if these risks are identified, giving you everything you need from the start and mitigating the need to order a separate, second report.

Summary of what this means:

•As of the 16th March the Mine Entry Report will no longer be available as a separate report

•Simplified ordering for both the CON29M and MER report - now combined in to one comprehensive product 

• The additional data, interpretation and assessment found in the standalone Mine Entry Report will now be included as standard in the Groundsure  CON29Ms - where required

Will I need to do anything?

All you need to do is order the Groundsure CON29M report as usual and where applicable the mine entry interpretive content will be included seamlessly as part of the CON29M report - for no extra charge.

Further benefits of this integration:

What additional information may now be included in the Groundsure CON29M report as a result:

• The calculated zone of influence (ZOI) around mine entries – the physical extent to which they could pose a risk – is now included as standard

• The Groundsure CON29M will go beyond official Law Society CON29M guidance and flag a risk whenever a mine entry ZOI encroaches on a property even when there is no mine entry within 20m

• Standard practice has previously defined mine entry risk to only 20m - which has historically meant that some risk was going unreported (where a ZOI is greater than 20m in radius)

• Groundsure have calculated this to be a scenario that is true for c.10k properties nationwide

The design and format of the report will remain largely unchanged, but the additional data will be implemented into the intelligence behind the risk calculation and recommendations.

The Water Authorities and Local Authorities have advised of their annual round of price increases – taking effect in April 2020.

These changes will be automatically implemented on the tmconvey platform, and will be reflected in any new orders as the changes take effect.

Which Water Authorities, Coal Authorities and Local Authorities are changing their prices?

We’re working closely with the Water Authorities, Coal Authorities and Local Authorities to ascertain exactly which authorities are increasing their prices and what these new prices will be – and will continue to keep you updated as more information becomes available. 

The current available details are below:

Water Authorities 

The following Water Authorities have confirmed they will be changing their prices in April 2020. 

Coal Authorities 

The Coal Authority will be pausing planned price increases due on 1st April 2020 for a period of 6 months.  

Local Authorities 

The following Local Authorities have confirmed they will be changing their prices on 1st April 2020. 

Anglesey County Council 
Basildon Borough council
Basingstoke & Deane 
Blaby District Council 
Blaenau Gwent 
Bracknell Forest Council
Braintree District Council 
Bridgend County Council 
Brighton & Hove City Council 
Broadland 
Bromsgrove District Council
Broxtowe Borough Council 
Buckinghamshire Council 
Canterbury City Council 
Castle Point
Chelmsford City Council 
Cherwell District Council
Chichester District Council 
Colchester Borough Council 
Corby Borough Council 
Cotswold District Council 
Crawley 
Dacorum 
Dartford Borough Council 
Doncaster Metropolitan County Council 
East Cambridgeshire District Council 
East Hampshire District Council
East Staffordshire Borough Council
East Suffolk 
East Sussex 
Epsom and Ewell Borough Council 
Forest of Dean District Council 
Gateshead 
Gloucestershire 
Great Yarmouth Borough Council 
Greater Cambridge Council
Guildford Borough Council 
Harborough 
Harlow Council
Harrogate Borough Council
Hart District Council 
Hastings Borough Council 
Havant District Council 
Herefordshire 
Hinckley and Bosworth Council
Ipswich Borough Council 
Isles of Scilly 
Kettering Borough Council
Knowsley
Leeds City Council
Lewes District Council
Lincoln City Council 
London Borough of Havering 
Malvern Hills District Council
Mendip District Council 
Merton 
Mid Kent 
Mid Sussex District Council 
Newark and Sherwood District Council
Newcastle-Under-Lyme
Newport City Council 
North Hertfordshire 
North Kesteven 
North Somerset 
North Warwickshire 
North Yorkshire County Council 
Norwich City Council 
Nottingham Council 
Oadby and Wigston Borough Council
Oxford City Council
Pembrokeshire County Council 
Redcar & Cleveland 
Redditch Borough Council 
Reigate and Banstead 
Ribble Valley Borough Council
Richmond & Wandsworth 
Ryedale District Council
Selby District Council
Sheffield City Council 
Solihull Borough Council
Somerset West and Taunton
South Gloucestershire Council 
South Norfolk 
South Oxfordshire District Council 
Southampton City Council 
Southend on Sea 
Spelthorne Borough Council 
Stevenage Borough Council 
Stratford Upon Avon 
Sunderland
Swindon Borough Council 
Teignbridge District Council 
Three Rivers District Council
Torbay 
Torbay 
Tower Hamlets 
Trowbridge 
Vale of White Horse District Council 
Wandsworth Borough Council 
Warwickshire Council 
Wealden Council 
Welwyn Hatfield 
West Berkshire Council
West LindsayDistrict Council 
West Norfolk 
West Oxfordshire District Council 
West Oxon Council 
Wigan Borough Council 
Windsor and Maidenhead
Woking Borough Council 
Worcester City Council 
Wychavon District Council 
Wycombe District Council 
Wyre Forest District Council 

If you have any questions, please contact our Helpdesk on 0800 840 5571 or email helpdesk@tmgroup.co.uk

In the continued challenge to improve client service standards in the property sector, tmgroup has introduced a new addition to the tmconnect platform that will help law firms to offer an enhanced level of communication with their clients. 

Launched in February 2020, the latest addition to the tmgroup suite of services is the new Consumer Portal. Designed to streamline and simplify the conveyancing process and offer both increased transparency and an enhanced client experience in property transactions, the Consumer Portal is accessed through an online gateway.

There were over 870,000 property transactions in the UK in 2019, with an average case taking up to 20 weeks to completion. The SRA reported that conveyancing received the second largest number of complaints across all legal areas.

Almost 20% of the 7,500 client complaints to the Legal Ombudsman are focused on delays, hidden costs, failure to follow instructions or provide adequate advice or background information by the solicitor. The Consumer Portal has been designed to support firms with these issues by providing total transparency and enhancing the client experience throughout.

In the recent Frontiers Legal IT Landscapes 2020 survey from LPM Magazine, to over 80 law firms, client-facing technology, including portals, are seen as business critical to achieve competitive advantage, with all firms facing an increasing challenge to provide effective client communication. 

Practice management and client engagement systems are where the majority of firms store their key client data. However, many firms are disadvantaged by having multiple “on-premise” systems that do not integrate efficiently or effectively. 

The new Consumer Portal is part of the tmconnect platform, currently used by over 100 law firms, which can integrate with an existing practice management system and provides additional advantages, such as:

•Workflow management

•Payment gateways

•Anti-MoneyLaundering (AML)

•Searches

•Milestone management

•Post completion

Firms using the product gain access to a host of features and automated processes designed to address the challenges at the core of the complaint issues and provide a connected property community of law firms, estate agents and lenders. 

Consumer expectations of being able to transact immediately and digitally are now part of everyday life. This is why the Consumer Portal has been equipped with mobile capability, providing instant remote accessibility for clients at their convenience. Other features include: 

•Increased transparency and clarity on both sides of the property transaction

•Enhanced value-added customer experience and benefits

•"On the move" communication and updates

•Two -way integration with tm client systems and consumers

•Full regulatory compliance and encrypted document sharing

•A trusted supplier partnership with ongoing support and development benefits

Consumer Portal offers futureproofing capability with secure and robust client confidentiality included as a standard from an ISO27001 accredited supplier . Automated “intelligent forms” provide increased efficiency and reduced manual data entry, leaving law firms with more opportunity to concentrate on client relationships.

For further information or a demo of the Consumer Portal or other tmgroup services, please contact helpdesk@tmgroup.co.uk or call 0800 840 5571 or speak to your local account manager.

Click here to book a demo

“Following our decision to use the tmconnect platform, the Consumer Portal is the obvious next step for TPS to continue driving efficiencies and provide clarity at every stage of the process for our clients. 

It provides a single point of communication and connects our network of estate agents, their clients and our panel of solicitors and conveyancers perfectly which will make a difference to their experience of using us, which is critical for our relationship with them.

The automation features will help us to save time and cost in our processes with transparency and accuracy for our clients. This streamlined approach is what really helps to set us aside in the market. 

Our partnership with tmgroup also gives us confidence to know that we’ll have total support on the journey from someone who really understands our business and our market.”

Phil Irving, Managing Director, Team Property Services

Jonathan Achampong, Partner at Wedlake Bell LLP discusses the impact of technology on the home buying process and how law firms can embrace change to benefit consumers. 

In an interview with Modern Law magazine Jonathan Achampong, Partner at Wedlake Bell LLP discusses the impact of technology on the home buying process and how law firms can embrace change to benefit consumers. 

Over the past two or three decades, the use of technology has dramatically changed the way we live and work. From the laptop on our desk to the smartphone in our hand; or from the way we manage our bank accounts to our ability to work remotely, technology has changed the way we communicate and get things done.

Today’s world dictates that businesses must be ready to adopt the necessary procedures, practices and technologies that will allow them to provide a fast, efficient and high-quality service.

In recent years, many commentators have speculated about how legal proptech innovations – such as machine learning, artificial intelligence and blockchain – are likely to revolutionise the home buying process. However, in the mind of a busy conveyancer, such future gazing can sometimes trigger a sense of scepticism regarding the practical application of these innovations. After all, understandably, a conveyancer might be more concerned about meeting an ambitious exchange deadline on a new build flat than they are about facilitating the execution of a smart contract.

Today’s home buyers are increasingly tech-savvy

Newcomers to the process are often stunned by how mysterious and antiquated the conveyancing process appears to be. In a service-driven 

“Newcomers to the process are often stunned by how mysterious and antiquated the conveyancing process appears to be. In a service-driven business such as conveyancing, practices that fail to respond to clients’ needs are almost certainly doomed to struggle”

“However, the collaboration between conveyancers and technologists means that within the next five years, we are likely to see increasingly practical ways that legal proptech will assist conveyancers”

Business such as conveyancing, practices that fail to respond to clients’ needs are almost certainly doomed to struggle. To put it another way, it’s easy for law firms to take the view that they have achieved success without aggressively adopting new technologies but being closed-minded about the benefits of legal proptech is unlikely to be a strategy that leads to long-term success.

So, what’s on the horizon? 

It’s probably fair to say that the aspirations of proptech providers range from wildly ambitious to sensibly pragmatic. While there’s a sense of inevitability to the use of smart contracts and blockchain, most conveyancers are more likely to be immediately assisted by the benefits derived from increasingly sophisticated case management systems that streamline processes and help to keep clients in the loop about the progress of their transaction. 

However, the collaboration between conveyancers and technologists means that within the next five years, we are likely to see increasingly practical ways that legal proptech will assist conveyancers. For example, there are platforms that exist today that enable property lawyers to have access to instant and rich property datasets that help to speed up the conveyancing process. 

Going forward

Without wishing to trigger the aforementioned scepticism, conveyancers should be aware that advances such as smart contracts, blockchain, property logbooks and tokenised property will almost certainly transform the process of legal due diligence for property transactions. Accordingly, law firms should remain open to and embrace change where this is likely to help them work more efficiently and deliver a better service to clients.

Jonathan Achampong is a Partner at Wedlake Bell LLP

We look at the guidance provided by the SRA in their most recent research around improving measures for better information for clients in the legal services market.

There were 870,000 property transactions in the UK last year, for some consumers, this will have been their first interaction with a law firm.  This presents a huge business development opportunity for law firms to make a lasting first impression. 

Correlate this with the fact that almost 20% of complaints, over 7,500 in number,  to the Legal Ombudsman last year were around hidden costs, failure to follow instructions or provide adequate advice or background information by the lawyer and it’s clear to see that even with the recent improved measures on transparency and pricing from regulatory bodies, there’s still more work to be done. So when did it become apparent that regulation could help with improving the client journey and where were the main issues?

Beginning in 2014, the ‘Looking to the Future’ programme started to ensure that solicitors and law firms were regulated in the right way. This was intended as a much more human focus on providing legal services and removing the bureaucratic constraints which hindered law firms in their pursuit to deliver the services needed by their clients. Key to improving this was actually understanding what the needs and requirements of the public were and what they would want to know when choosing their legal advisors.

Back in 2016, the Competition and Markets Authority (CMA) report  commissioned to define these requirements, found that a lack of clear information is making it difficult for the public and small businesses to access legal services. Only one in ten people at that time, were using a regulated professional when they had a legal problem, and it was becoming more difficult for potential clients to make informed choices. This was having a clear impact on competitiveness in the sector and reducing real access to justice. 

In September 2017, the SRA issued a consultation paper, Better information, more choice, which proposed making information about law firms, the services they offer, the prices they charge, the complaints they receive and the protections they have in place more easily accessible. In addition to their baseline research, they also commissioned two pieces of key research, one of which was focused on Price Transparency in the Conveyancing Market, published in January 2018. This covered all aspects of pricing models and the availability of pricing to consumers to allow them to make informed choices when choosing a legal adviser. This was also coupled with an online test of pricing transparency to over 1,000 users of legal services across 15 different areas of law. 

The research looked specifically about their awareness and understanding of their regulatory protection and also what information they felt they needed to help them to make their decisions. This project was also in collaboration with the Legal Ombudsman.

Katrina Sporle, Property Ombudsman commented “As Ombudsman, I continue to see rising numbers of complaints year on year when it comes to the buying and selling of houses.  Complaints are many and varied and each will have a unique set of circumstances which we investigate prior to adjudication. Accurate, reliable, relevant information is needed before a transactional decision is made by a prospective purchaser.  Everyone involved in the sector needs to collaborate to make that a reality.”

A key recommendation of the CMA’s report was for regulators to assess the impact of policies aimed at increasing transparency in the market. The main methods used in this research were randomised controlled trials, which are widely considered as the gold standard for policy evaluation and behaviourally-informed research.

The research produced an in-depth picture of consumer perceptions of legal services, what type of information they look for when choosing legal providers, and most importantly, gathered robust evidence regarding how SRA reforms can help firms to win more clients, and help consumers to make more informed choices.

Some of the key findings of the research were:

• When choosing a legal services provider, most people (85%) want information before making their decision, usually relating to price (53%) and quality (37%). 27% of respondents wanted information on regulatory protections.

• Over half (57%) of respondents thought that all legal services providers were regulated, not always the case. Of those who have used a regulated provider in the past:

• 24% are aware of the SRA Compensation Fund.

• 36% are aware their provider is insured.

• 41% are aware of the Legal Ombudsman.

•Despite this, when they were provided with clear information regarding regulatory protections:

• People’s awareness increased.

• They engaged with it and used it to make decisions.

• In general, people stated that they wanted more information on price, the quality of the service, and the provider’s regulatory protections.

• In one of the trials, firms that used an SRA regulated logo were significantly more likely to be selected by consumers (14% increase), providing a commercial benefit for firms using the logo.

• 79% of consumers said they felt more comfortable selecting providers that had a logo.

• 86% of consumers felt that it would be useful to be able to click on the logo to find more information on the firm’s protections.

• Finally, when people were given access to information on price and protections, they made informed decisions.People were willing to trade off between the type of provider, and their associated regulatory protections, and the cost of the service.

• 54% of participants said that they would be willing to pay more to have more regulatory protections.

• The research showed that protections and price are both important, and people do not simply choose the cheapest option.

From a conveyancing perspective, a lot has been learnt from the research and guidance available, with law firms looking to technology to help with the pressing issues that have been highlighted. According to the latest LPM Legal IT Landscapes report law firms are utilising technology to facilitate automation, CRM and client-facing tech such as client portals which are predicted to have the most impact on the client journey over the next 12 months.  Firms that don’t adapt to new technologies are likely to separate from those that do, recognising that changes in structure and culture may also be needed to remain competitive in the market.

 Access to the full SRA report can be found here:

An annex to the report can be found here:

This year’s Legal Practice Manager Frontiers Legal IT Landscapes report has just been released. We take a look at the results and key market indicators of intention from law firm leaders in practice management. Focussing on the technologies they believe will help them in the continued drive for differentiation in the market and delivering the best client experience possible in a world of ever-increasing competition.

Automation and integration top the list of this year’s tech focus in LPM Magazine’s Legal IT Landscapes Report.

The latest Legal IT Landscapes Report from Legal Project Management (LPM) Magazine has been released, with feedback from 85 law firms, a considerable tranche of the SME legal tech market.

The report, sponsored by tmgroup, Accesspoint and Thomson Reuters , shows existing trends in the sector and provides an insight into the top technologies law firm leaders see as being pivotal to their development in competitiveness and efficiency for the coming year.

This year’s results show a clear surge in process delivery automation and integration, particularly around case management systems and client facing technologies, such as consumer portals, as a clear driver of competition to achieve a more effective customer journey.

Those firms taking a holistic approach to aligning strategy and innovation are likely to move forward quickly, with the report warning that systems that do not talk to each other, lawyers resistance to change and the traditional partnership model being the greatest potential barriers to progress.

Kayli Olson, Editor of LPM said “Firms that do not move to adapting cloud technology will be left behind and this is likely to create an SME split between those firms that do and don’t move forward. Fewer on-premise tech solutions are being used and in the next five years in the majority rather than the minority.”

Almost a third of the firms see consumer portals as pivotal in delivering an improved client experience. This comes at a time when 20% of client complaints to the Legal Ombudsman focus on delays and hidden costs or failure to provide adequate advice or information.

In order to remain competitive with larger firms, 34% of law firms consider automation as the key to efficiency gains. What is a concern, is that investment in legal IT has remained at a static 5% of turnover over the last five years with 49% of firms surveyed believing that they are not investing enough in new technologies to benefit their clients.

Cyber security has dropped in focus since last year’s survey, but more likely because it has become standard practice rather than an additional agenda item. However, tech adoption could be driving tech fear, with conveyancing seen to hold the biggest risk potential among 43% of firms. Pricing and scoping of work in conveyancing is also seen as the worst potential area for profit generation, from 32% of firms, but conversely, the best area, with 23% of firms, next to Family law. This shows that there is huge potential for firms who get it right to stand out in the market.

Joe Pepper, CEO of tmgroup commented on the results, “These findings corroborate our own experience, we’ve seen more clients than ever have looked to use our automated services in the past 12 months, such as post completion activity in the residential conveyancing market. Unsurprisingly, time and efficiency remain a core demand of new technology solutions and the secure communication and sharing of data between these law firms, their clients and partners will be critical in protecting them in the years ahead. 

For more information: report >>Download the full Legal IT Landscapes 2020 report here.

Where are we now and what will make the biggest difference? Our expert panel discuss the issues in question and what’s being done to make changes to benefit service providers and their customers: 

Automation and client portals – challenges and developments around customer experience - Lauren Stanley, Private Property solicitor, Thrings

Challenges and developments in customer experience generally centre around two things: price transparency and technological advancements (automated systems and client portals). 

With the arrival of alternative business structures and online firms, we are seeing a rise in fixed low pricing and ‘no move no fee’ arrangements. This model naturally lends itself to focusing on volume and profit, to the detriment of service quality. 

Generally, online firms that quote a fixed price will add on extras throughout the transaction. This tends to spark a ‘race to the bottom’ when it comes to conveyancer fees and creates frustration among customers when the approach to pricing isn’t communicated at the start of the transaction. 

The price transparency rules that came into force in November 2018 should go some way to addressing these problems and enhancing the customer experience - although the practical consequences are yet to play out. 

At a minimum, the rules should allow customers to make an informed decision on the basis of costs and will make them aware of any referral fee arrangements. The rules do not, however, help the customer decide on the basis of a firm’s capabilities, processes and ability to provide an excellent service.

Expectations of service levels among consumers are only getting higher. With instant access to information becoming the norm in areas of the services sector, the pressure for conveyancing solicitors to meet consumer expectations is also high. Firms are reviewing their processes and procedures to better meet those expectations. 

Automation in conveyancing has the potential to drive efficiencies by firms on both sides of the transaction. The important thing is to ensure these investments in technology are made to enhance client service, not just reduce costs and expert input. The quality of service and reassurance that come from working directly with qualified and experienced conveyancers is invaluable during, what is often, the most expensive transaction an individual or family will ever undertake. 

More regulation and collaboration to raise standards - Katrine Sporle, Property Ombudsman

The primary focus of the Property Ombudsman is to ensure that consumers do not suffer detriment when receiving services from property agents – be they buying, selling, letting or managing agents.  All of these activities require mandatory redress when undertaken by a property agent.  We also provide redress services to search providers who have signed up with the Property Ombudsman on a voluntary basis.

I wish I could say, hand on heart, that all property agents set out to do the right thing.  Unfortunately, that would not be true, which is why TPO is a staunch supporter of the need for a Regulator and for mandatory professional qualifications.

On the other hand, I am also firmly of the view that the vast majority of property agents do want to do the right thing.  Mistakes occur because there are not clear enough standards and there is no modern digital property database on which to rely.

The industry is working hard to raise standards and TPO is entirely supportive of the moves to make properties not just market ready, but sale ready.  By that we mean that absolutely everything about a property is clearly available from the point a property is marketed – including the local search information that a planning permission has been granted for a chicken farm 250 yards away from the property, for example.

Accurate, reliable, relevant information is needed before a transactional decision is made by a prospective purchaser.  Everyone involved in the sector should collaborate to make that a reality.

Consumer portals would be a welcome addition, but not a substitution for managing client expectations – Eduardo Reyes, The Law Society Gazette

Lawyers already tell me about client expectations that they will communicate with them, update them and take instructions through a platform of their choice. Conveyancing solicitors are having to screen shot messages sent on instant messaging apps to provide the paper trail they need. 

So, if we see a growth in online portals to manage transactions, to which clients can be steered, that will be a welcome change for lawyers, while providing the immediacy clients are expecting. The frustration for regulators though is going to be around price competition - when consumers fail to respond to price competition, and they frequently do 'fail' on this front, the assumption is that competition and the market is not working logically. In reality, consumers choose by location, service, recommendation - feel, even. Regulators in all fields are obtuse on this point, so expect more interference to try and make perfect competition 'happen'. 

Something to watch as any service becomes more automated or 'moves online', is that functions that were helpful to the process, in this case buying and selling property, tend to disappear. Think of online-only estate agents, who do the marketing of properties, but who have dispensed with roles such as 'transaction progressors'. And if you have accessed a service or advice via a chatbot, you will know that getting to the thing you want takes much more of your time as a citizen, consumer or client. That extra time is robots giving us extra things to do. Clients want immediacy and access to information and advice - some technology we are seeing in professional services environments (such as information portals and automated searches) provides that, while other tech does the opposite. In doing so, the latter erodes trust.

A week might be a long time in politics, but a year in conveyancing passes in the twinkling of an eye….  Richard Hinton, The Conveyancing Map

How slowly the wheels turn! The Price & Transparency regulations were introduced in December 2018 to a conveyancing industry at best unconvinced of their benefits. This lack of conviction that seems to have been shared to an extent by the Law Society, has in my view, left the initiative struggling to achieve its aims.

The sponsors of price and service transparency long for a better-informed decision by clients but conveyancing practitioners have either metaphorically ticked what they see as a compliance box and moved on or have simply parked the issue.

The Competition and Markets Authority (CMA) is set to review the position shortly and this divergence between compliance and added value for clients will be apparent. The SRA’s own review of a sample of firms in June 2019 found that 25% of firms were fully compliant and a further 58% were partially compliant. 

Our own survey of conveyancing specifically, found only 5% of firms provide a personalised online estimate of fees without the need to supply an email address – the preferred end game for the CMA. At the same time, only 9% of firms promote client reviews collected by an independent third party – another key indicator for the CMA.

These statistics illustrate starkly the dislocation between the two drivers of compliance and client value.

Nor is there any sign that firms are flocking to sign up with comparison sites – probably on the sensible premise that other than price, there’s nothing much to compare anyway, there are no agreed standards or metrics and should they sign up, then no doubt they’ll be charged for the privilege.

Moving this agenda forward, on anything other than an attritional, incremental basis needs a new alignment between the rule makers and the rule takers, and, I’d suggest, more proactive, enabling behaviour from the regulator community that gives the profession the tools and reference points it so desperately needs.

Until then, firms will profess correctly that they’ve done what has been asked of them and clients will be left with only a marginally better understanding of the purchasing decision they’ve made.

Greater transparency brings changes afoot for 2020 and beyond - Rob Hailstone CEO, Bold Legal Group

It’s likely that 2020 will be a slow burn for conveyancers. By that, I mean the year will begin relatively quietly with no new major changes or issues for conveyancers to deal with. However, that shouldn’t allow firms to get lulled into a false sense of security. There are a number of initiatives that are bubbling away under the surface and conveyancers need to keep a watchful eye on them for the impact on them and their clients. They include:

Providing pricing information on websites; Firms should be complying with the Transparency Rules introduced in December 2018. The SRA will be policing them more effectively from now on.

The proposals to educate and regulate estate agents; It will be interesting to see if this initiative results in some Estate Agency businesses becoming more involved in providing conveyancing services and its impact on the market and client service in the future.

A possible Referral Fee ban; Depending on what your referral fee view is, there is a concern on their impact on the current lack of transparency in the transaction and the need for consumer choice.

The emergence of Property Logbooks; Property Logbooks are coming, and not only will they benefit the consumer, they will also benefit the conveyancer. 

Reservation Agreements; The Governments ‘proposed’ pilot, if approved, will take place this year. The Ministry of Housing, Communities & Local Government (MHCLG) is commissioning behavioural insight research to help with the design of it, prior to a field trial. This research looks at issues such as how much money each party would have to commit and the circumstances under which they could withdraw from the transaction without losing it.  We are still watching with interest how it will evolve.

The provision of Up-Front Information; The old chestnut! Not quite a full HIP replacement but, in my opinion, getting close to it. It has been proven by some conveyancers and estate agency groups that the provision of Up-Front Information can take weeks off of the home buying and selling process.

On top of these, conveyancers will need to be aware of the upcoming April changes to Capital Gains Tax (CGT), get to grips with the new questions on the TA6, become aware of more sophisticated frauds and scams and as always, expect the unexpected. 

The ongoing challenge of managing these issues while still keeping client experience at the forefront of your firm’s obligations will be enough to be going on with for now. 

Get in touch with our marketing team on marketing@tmgroup.co.uk to find out more or if you have any questions