Goldsmith Williams has suggested that a ‘perfect storm’ brewing in the conveyancing sector could lead to an a number of firms leaving.
The law firm says moves by the Law Society and Solicitors Regulation Authority (SRA) demonstrate that a hostile environment is developing for smaller firms.
A recent Land Registry report showed that almost one third of firms dealing with the bureau made less than 10 applications in 2010, compared to larger competitors, many of whom were handling thousands of transactions over the same period.
The Council of Mortgage Lenders (CML) has also sought to resist moves by the SRA to remove automatic insurance cover for lenders, while the newly introduced Law Society Quality Scheme is likely to place even further burdens on smaller operators. Goldsmith Williams argues.
Eddie Goldsmith , partner at Goldsmith Williams, said: “There is now a clear and significant disparity between the specialised players and the occasional dabblers in the conveyancing sector.
