As lenders continue reducing the number of conveyancing firms on their panels without consultation, a new trade association warns that this move poses the greatest single threat to the future of the conveyancing industry in the UK.
Commenting, Edward Goldsmith, chairman of the CA stated: “Restricted lender panels are a huge threat for the industry, putting all conveyancing businesses at risk. We want to facilitate conversations with lenders and third parties on behalf of experienced and reputable firms that put conveyancing at the heart of their business.”
Mr Goldsmith also points to the possible implications of the Legal Services Act (LSA) for the industry as a central reason for establishing the new Association:
“In 2011, the LSA will change the rules enabling additional businesses to enter into the market, affecting firms of all sizes in different ways. The possible creation of multi-disciplinary-practices and the flooding of new entrants into the marketplace could significantly change the future conveyancing landscape. I urge industry to take a proactive and collective response by becoming members of the CA at an early stage.”
14 of the largest conveyancing operations are already on board and are represented in industry focused groups. Membership is varied in that there are international, national, regional and local firms spread across every region in the UK, including Optima Legal, My Home Move, Goldsmith Williams, Shoosmiths and Eversheds LLP amongst others.
