When issues arise that are outside of the control of the profession, firms must assess risk and ‘do the lawyering’ using the appropriate tools says the new Managing Director of Newport-based Convey Law.
Following the Barclays outage on Friday 31st January 2025, Janine Wellington said she was ‘surprised’ to hear of firms unwilling to move clients into their new homes using the Standard Conditions of Sale 5th Edition in which Clause 5.2 allows for early occupation, on a licensee basis, pending completion on the terms set out within that clause.
“When matters are outside our control, as Conveyancers, we must assess risk and do the lawyering, using the law and tools available to us. What was great on Friday was that the vast majority of our fellow Conveyancers reacted immediately and appropriately, and in their clients’ best interests, and organised their occupation of their new properties, pending the arrival of funds.”
“I was surprised to hear that a few Conveyancers were I have used Clause 5.2 confidently and successfully (perhaps with the addition of a legal undertaking here and there) on many such occasions during my conveyancing career. The clause covers what is needed to protect the parties to the contract and allows for immediate occupation of the property in such circumstances.”
“When, not if”
Wellington went on to praise the resilience of the profession and the response of conveyancers; highlighting banking failures have been more common and firms must be prepared for future outages.
“It was truly inspiring to see the industry come together to ensure that a banking glitch did not spoil the moving day experience for our clients and cause huge inconvenience, upset and additional costs. I dare say that Barclays will have a very large compensation bill to pay for late completions, and in support of those few Conveyancers who didn’t use Clause 5.2 for their clients or their purchasers.”
“Let’s hope that, should (or ‘when’) a banking system fails our conveyancing transaction next, we once again all pull together, use our legal heads, and provide immediate, practical short-term remedies for our clients – Clause 5.2! Well done everybody and thank you for your wonderful support on such a difficult conveyancing day!”
