What next for the conveyancing market?

Unanticipated property market impediments and compliance crackdowns are here to stay, predicts Lynne Lister, MD of X-Press Legal Services

The property market downturn has begun with repossessions likely to spike later this year. This, combined with government crackdowns on economic crimes, the ongoing NPPF consultation and newly announced changes to leasehold is making conveyancing in 2023 more complex than ever before.

“A fall in house prices was inevitable but the level of announcements and legislation impacting the property, conveyancing and legal industry currently coming out of government is extraordinary,” commented Lynne.

“Remaining compliant is not easy amid such turbulence and it is understandable why some larger law firms have now launched entire compliance departments to manage changes in legislation. As a property partner, we are evolving faster than ever before to give our clients access to the most innovative digital products available, helping them to efficiently manage their caseloads. Our aim is to keep local marketplaces buoyant, and we can only do this by ensuring independent conveyancers are fully supported, compliant and able to reduce delays in transactions wherever possible.”

With locally owned offices throughout England & Wales, X-Press Legal Services is an independent property partner specialising in data and e-conveyancing. Its latest digital product, QMP is a cloud-based Quotation Management Platform supporting conveyancers from onboarding through the entire conveyancing process.

This innovative platform enables professional networks to efficiently manage communications between property partners such as estate agents and mortgage brokers and their clients. Its bespoke technology also enables conveyancing professionals to better manage workflows all within a cyber secure, SRA compliant environment.

“Right now, there is no average day in conveyancing,” added Lynne. “Professionals are under immense pressure to complete transactions without falling foul of the SRA or AML regulations. We have tools available to alleviate some of that, ensuring our clients can continue to deliver the level of service which their reputations have been built on, however turbulent the industry may get.”

For further information or to find your local X-Press office visit www.xpresslegal.co.uk