Connells subsidiary becomes first estate agent ABS
Conveyancing group makes preventive move against possible referral fee ban
Conveyancing Direct Property Lawyers, a wholly-owned subsidiary of the Connells Group, has become the first firm owned by estate agents to be authorised as an ABS.
Headquartered in Hastings, CDPL chose the Council for Licensed Conveyancers as its ABS regulator.
In addition to trading under the Connells brand, the group includes locally well-known estate agents such as Barnard Marcus, Fox & Sons, and Roger Platt.
A spokesperson for CDPL said there were no specific plans yet as to how the business would leverage its ABS status other than to 'provide greater flexibility and scope for future growth into other areas of legal services'.
Connells Group conveyancing services director Roger Wilson said CDPL's new ABS licence would 'put CDPL and the Connells Group's conveyancing operation in a stronger position to adapt or rapidly expand our in-house operation should the need arise'.
He went on: 'For example, should a ban on referral arrangements be re-introduced in the conveyancing arena, it will enable us to adjust our business structure accordingly and continue to meet the demands of our customers for conveyancing services.'
Connells offers conveyancing services via a panel of 18 firms across Britain, plus its own in-house firm Conveyancing Direct Property Lawyers in St Leonard's on Sea, Cardiff and Burton Upon Trent.
Five of the panel firms are volume licensed conveyancing firms, the remaining thirteen are solicitors firms.
The CLC awarded three other conveyancing firms ABS licences last week. These were Runnett & Co, owned by online conveyancing business In-Deed, Advantage Property Lawyers and Red Legal, which has offices across the Midlands.