Regulatory fee reduction announced by CLC

09 Sep 2019

The Council for Licensed Conveyancers (CLC) has announced plans to reduce the regulatory fees imposed on CLC practices next year to an even lower level than that first proposed during a consultation earlier this year.

In its original consultation on the 2020 practice fee rates, a 20 per cent reduction was mooted for the coming year.

Now, the regulator of specialist property lawyers has applied to the Legal Services Board (LSB) for approval to reduce practice fee rates by 30 per cent. This is in addition to a 20 per cent cut made in 2016 and 10 per cent in 2018.

At the same time the CLC has proposed a 60 per cent cut in compensation fund contribution rates.

The base comp...

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