Next month I will be extremely proud to become the president of the Law Society of England and Wales. Holding this position of responsibility means I can help the profession that has given me so much. It is something that I will never take for granted. The Law Society is privileged to be able to speak to decision makers about matters that effect solicitors such as the home buying and selling market.
Some can undervalue, or underestimate, the work that conveyancers do in bringing together the many different and complex pieces of the home buying and selling jigsaw. We often remind these people of the reality of conveyancing. Each property is different, whether it be freehold or leasehold, and title investigation can also reveal various entries that affect the property.
The conveyancing process is often referred to as clunky, slow and complicated. There are many factors that can cause delay and complication, not least the number of parties involved. The transaction often starts with estate agents and then can involve managing agents, financial advisors, mortgage lenders, valuers, surveyors, search providers, insurance providers, Companies House, HM Revenue and Customs, HM Land Registry and of course conveyancers.
There is often duplication of work, and issues may not be identified until later in the process. Technology has an important role to play in improving the process, but it is just one part of the conveyancing puzzle. Improving technology without addressing other factors will not deliver real gains for clients or conveyancers.
Another complication that can arise in property chains is where people work to different timescales. Plus, people can change their minds about moving for many reasons and our system allows both sellers and buyers to withdraw or renegotiate at the last minute.
By the time a conveyancer is instructed, weeks and often months may have passed since the property was placed on the market, and a sale is finally agreed. Conveyancing work is complex with multiple requirements, including many regulatory burdens. Sometimes expectations can be unrealistic, or issues that could have been addressed or disclosed at an earlier stage cause delay. For example, conveyancers are required to verify proof of funds, however this should have been checked at the outset by estate agents, mortgage brokers and lenders.
Matters are further complicated by lenders’ different requirements. Overnight changes to Stamp Duty Land Tax in England or Land Transaction Tax in Wales create a surge of pressure on conveyancers to meet tight deadlines. There are also inconsistencies in reporting among local authorities and delays at HM Land Registry.
It is usually the conveyancer who has to pass on any bad news, and as a result gets the blame for simply reporting on issues that should have been clarified or disclosed earlier.
If you are a conveyancer reading this, I am sure that I have not told you anything new, but we need to continue reminding others in the home buying and selling process of the reality of residential conveyancing.
The Law Society works for conveyancers and their clients, in collaboration with both the English and Welsh governments, and all those involved in house buying and selling, to improve the process. We argue for greater integration of multiple sources of public information, for conveyancers to be instructed as early as possible, and for those involved at the start of the process – estate agents and managing agents – to be properly regulated.
The conveyancing process is complicated, and conveyancers face a lot of pressure, but it is often one of the most important parts of the legal profession for the public. Despite all the enjoyment I get from carrying out my role at the Law Society, nothing beats the rewarding experience I used to have when telling a client they can pick up the keys to their new home.
As an office holder I have been privileged to meet many of our conveyancing members at conferences and events. I am acutely aware that there are differences of opinion within the sector and I hope to move the discussion away from social media and speak directly with our membership during my term of office so that all views and opinions can be expressed. I will encourage our members to get involved and join our new Member Advisory Forum when it launches.
Mark Evans is vice-president of the Law Society of England and Wales
