Conveyancing solicitors are divided over the impact of being able to choose a regulator, after the Legal Services Board approved an application by the Council for Licensed Conveyancers (CLC) to regulate ABSs.
The SRA has unveiled a set of radical reforms including scrapping the single renewal rate for professional indemnity insurance, removing financial services work as a compulsory insurance element, and reducing the time firms are allowed in the assigned risks pool – all of which are due to come into effect from October next year.
Property lawyers have welcomed the idea of a new accreditation scheme for conveyancers but some are already doubting whether a scheme intended to raise professional standards and help the profession fight off new entrants will have any effect in practice.
Family law reform featured high in the Conservative manifesto, along with tax reform, civil litigation costs and referral fees. Our regulars review the situation in the wake of the Lib/Con coalition
ABSs could deliver genuine benefits but there is just no way of knowing at this stage whether the model will be suitable for your firm, says Jonathan Smithers
There has been welcome convergence in the mortgage lending industry, but isn't it time for a rebalancing of the lender-conveyancer relationship, asks Jonathan Smithers