Conveyancing complaints and fraud

The Legal Ombudsman has highlighted the benefits of good practice in handling conveyancing complaints; and the National Fraud Authority outlined a new approach to mortgage fraud
Conveyancing is the second most common type of legal service complained about to the Legal Ombudsman, members of the Conveyancing Association (CA) heard at their meeting last week.

Fifteen percent of the complaints received by the Legal Ombudsman concerned residential property transactions, lower only than family law.

Katie Leslie, senior projects manager for the Legal Ombudsman, was speaking at an All-Members Meeting of the CA in central London last Thursday.

She said: “Were the housing market in better shape we would expect to see conveyancing topping the list. Hidden costs and unclear rights and responsibilities relating to properties – such as the maintenance of footpaths or hedges – have the potential to alienate customers and lead them to seek the help of the Legal Ombudsman.

 

Read More - http://www.mortgagefinancegazette.com/legal/conveyancing-complaints-and-fraud/

Panel selection greatest threat to conveyancing

Solicitors expect the main threat to their industry in the next year to come from lenders’ panel selection decisions, a survey from SearchFlow reveals.

More than half of conveyancing firms (51%) believe the recent controversy over panel management has caused lenders to worry more about fraud, and this will have a potential impact on business levels. But at the same time solicitors report that despite initial fears ABSs have not made an impact yet, with the threat of competition from ABSs (14%) ranked behind a weak property market (22%) and the increasing cost of insurance (15%).

When questioned as to how they plan to adapt to the arrival of ABSs almost half of conveyancers (48%) said they would be making no changes to their business, with 15% saying they would be increasing their marketing spend. Only 12% said they would change their practice areas and just 10% said they would begin to offer fixed fees.

Read more - http://www.mortgageintroducer.com/mortgages/244351/5/Industry_in_depth/Panel_selection_greatest_threat_to_conveyancing.htm