Too many conveyancers in the industry
Speakers at the conference focused on the threat that negligence and fraud within the process is driving the sector, particularly the lenders, to look at how best to protect everyone’s interest but particularly their own.
JETconvey said: “At every turn we have a change of regulation. If the impact of Alternative Business Structures, the power of the Solicitors’ Regulation Authority, the screw tightening efforts of the lenders, are to be addressed, many conveyancers will need to review their current systems and practices if they are not to become one of a shrinking breed.”
The conference heard how new ways need to be found to protect the interests of all parties and to this end the likes of conveyancing tools such as JET, were welcomed as innovative solutions.
Hudson went on to say that solicitors would need to adjust their prices but at no time must their pricing model ignore the need to embrace the cost of risk avoidance.