The Building Safety Act (BSA) remains a major issue for conveyancers with many not prepared to act on matters where the BSA may apply in some way. A poll at the recent Society of Licensed Conveyancers (SLC) Conference identified that over half of the delegates no longer take on matters where the BSA may impact the transaction.
The poll chimes with a Today’s Conveyancer survey in April 2023 which identified that 52% of respondents had ceased acting on matters which involved the “car crash” legislation. Amendments to the act are currently working their way through Parliament.
Discussing the challenges raised by the Act, legal trainer Ian Quayle, Ed Donne of Howden and Matt Jupp from UK Finance all provided their interpretations around what conveyancers should do, and more importantly should not do, when taking on matters which involve the BSA in any way. The sentiment shared by the audience was that mortgage lenders simply want to pass on all risk and liability in respect of the BSA to conveyancers through the Lenders Handbook, a notion Jupp refuted. However the subsequent poll provides some insight into the depth of feeling, and risk, the Building Safety Act presents to the profession
The BSA was one of a number of practical issues discussed at the conference which saw a record attendance this year. Artificial intelligence (AI), anti-money laundering (AML), professional indemnity insurance (PII), workplace wellbeing, Building Safety Act and more were all covered by speakers from the Council for Licensed Conveyancers (CLC), the Legal Ombudsman (LeO), Legal Services Board (LSB) and UKLTA.
On AI Lauren Watson, Chair of UKLTA spent some time explaining generative AI and the possibilities it presents to becomes a “strategic differentiator” for law firms. “It won’t replace us any time soon, but it will be a really powerful tool” she added.
Delegates also quizzed the panelists on the proposed change of regulation for CILEx members, the costs that LeO passes on to practices through the CLC, and the cost of PII which is typically 50%-60% lower for CLC regulated firms than SRA regulated firms according to Howden.
The 2023 Conference included a student stream for the second year in a row led by SLC Board Member John Jones, and is expected to become an ever-greater feature of SLC Conferences in the future.
Commenting on the day Simon Law, SLC Chair said
“This was perhaps the best event that the SLC has ever held, and the feedback from everyone I spoke to was extremely positive. Conferences only add value when those attending can return to the work place with enhanced knowledge or ways of working, and I for one have taken away both from this year’s event. My thanks to all our sponsors, speakers and of course the delegates who make SLC Conferences so special and memorable.”
