Revealed: Property industry needs to improve the well-being of its workers to thrive, according to research report

The well-being of property industry professionals has taken its toll with the economic downturn and cost-of-living crisis, with over a third threatening to quit the sector within the next five years, as the latest annual tmgroup research report revealed.

Despite initial optimism as professionals emerged post-Covid with greater access to home working and flexible working, the ‘Back to the Future’ report shows that over the past year’s pressure cooker environment, the industry is not going far enough to protect the well-being of its workers and has lost focus on its people in the fall-out.

The report reveals that while workplace initiatives, such as access to home working or flexible working hours, deliver a better work/life balance for a quarter of the report’s survey respondents, the number of workers benefitting from this has fallen from the previous year. Other workplace initiatives which drew the most positive impact on employees’ personal well-being were social events, experienced by 15% of respondents, and increased holidays for 11% of respondents, with HR reports suggesting this is a rising trend across all industries.

However, a quarter of people reported not benefitting from any workplace well-being initiatives at all, particularly within the estate agency sector amongst Sales Progressors, Negotiators and Valuers. This is a concern as the industry is already facing a struggle with recruitment and retention of talent.

There was also a marked reduction in staff receiving well-being calls from the previous year. In light of rising caseloads and more prolonged property transactions, employees are in danger of facing increased isolation, particularly those who work remotely. Workplace initiatives such as these are low or no cost, but can have a huge positive impact on staff who have helped firms get through tough times.

Dan Creed, HR Director at tmgroup comments, “A concern is that the positive intention of well-being programmes and well-being calls are starting to decline. Instead, organisations are replacing human intervention with e-cards or self-help initiatives and I am noticing a decline in overall staff well-being in these companies.”

“It is leading to higher rates of absence as well as talent acquisition and retention issues. This will make it more challenging for businesses to manage workloads and will put additional pressure or stress on existing staff – impacting mental health. To counter this, employers should consider measures such as increasing holiday entitlements beyond the basic legal level and possibly introducing initiatives such as Mental Health First Aiders (MHFAs). According to the CIPD, many businesses now have at least one MHFA per 100 staff.”

With so many property professionals clearly feeling the effects of the previous year and with 2023 looking like it will still be a challenging market, there is understandable demand for change. Solutions are there if business leaders are willing to make big decisions that steer their firms towards a more sustainable future focussing on how well-being initiatives can support their staff.

To find out more about what 850 property professionals had to say about what the industry needs to shape a healthy future in the face of yet more uncertainty, the full ‘Back to the Future’ report is available to download here.

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from The Conveyancing Association https://www.conveyancingassociation.org.uk/revealed-property-industry-needs-to-improve-the-well-being-of-its-workers-to-thrive-according-to-research-report/

Conveyancing Association announce date and venue of 2024 Annual Conference & Charity Dinner

The Conveyancing Association (CA) – the leading trade body for the conveyancing industry – has today (18 May 2023) announced the date and venue for its next Annual Conference & Charity Dinner.

The 2024 event will take place on Tuesday 6^th February at the Hilton Deansgate Hotel in Manchester, and will cover the theme, ‘Moving Towards The Digital Age’, looking at how conveyancing firms can prepare for, and benefit from, digital-focused solutions within the process.

As usual the Annual Conference will feature a number of presentations and panel sessions and will, once again, be chaired by Chair, Eddie Goldsmith and CA Director of Delivery, Beth Rudolf.

It is open to all CA member firms, legal and affiliate, and attendance can also be secured for non-members for a charge. Registration will open in June.

Sponsorship opportunities exist in areas including stands at the accompanying exhibition, plus post-Conference Drinks Reception and the Charity Dinner which will take place in the evening and will once again be raising money for a worthy cause.

The 2023 CA Annual Conference & Dinner took place in London under the title ‘Change is Coming’ and focused on the future of conveyancing industry in respect of regulation, technology, process, consolidation and much more. The Charity Dinner raised over £3,000 in aid of The Children’s Society.

Nicky Heathcote, Non-Executive Chair of The Conveyancing Association, said:

“The CA Annual Conference and Dinner is such an important date in the diary for the conveyancing industry and the wider market that we wanted to provide all stakeholders with as much advance notice of when and where it will take place in 2024.

“After visiting London this year, in 2024 we’re heading back to Manchester and specifically the Hilton Deansgate Hotel where we plan to put on a fantastic day (and night) for all those who attend.

“To say the 2023 Conference was an absolute eye-opener was an understatement, and our plan is to provide all 2024 Conference delegates and sponsors with an engaging array of sessions, focused on the digital opportunities in our sector but also the wider property market and economy, to help conveyancing firms not just survive but thrive.

“Further information will be revealed next month, including sponsorship opportunities, however if you are keen to get involved right now, then please don’t hesitate to contact the CA Secretariat who will be able to help.”

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from The Conveyancing Association https://www.conveyancingassociation.org.uk/conveyancing-association-announce-date-and-venue-of-2024-annual-conference-charity-dinner/

Solutions are already here – we need the whole industry to adopt them

Earlier this week we held our AGM, followed by our Legal and All-Members’ Meetings and I’d firstly like to thank all those who attended, particularly given the somewhat interesting transport situation we currently have.

That said, we had a very full room, particularly for our Legal/All-Member sessions and for me, part of the joy of the CA, is when we see both practitioner members and our affiliates huddled together in various groups discussing the issues they are currently facing and sharing potential solutions.

These can be from the nitty-gritty of conveyancing work to broader industry-wide initiatives, and we were able to cover off a variety of these particularly during our Lender Engagement Workshop and one that looked at the future vision for digital conveyancing, material information and how we might deliver a more consumer-centric home moving process.

As always, and again this has always struck me as another benefit of CA membership, no-one held back in terms of where they felt there were problems to be addressed but also in terms of the suggested solutions, how they were – for example – getting over any communication problems with lenders or what they wanted to see in terms of securing a better service level between the two parties.

It’s our job as a trade body not just to highlight problems, but to genuinely work with all concerned to find solutions to those problems. We all have to feel that change is possible and that we can find a better way of doing things that benefits all involved in this process.

Again, that collaborative spirit was evident in spades during the meetings and I think we have to perhaps be more vocal in terms of the change we can/have secured and the solutions that clearly already exist that perhaps some are not utilising.

I was reminded of this on reading the Open Letter recently sent by a number of key figures in the property industry to Michael Gove. As, it quite rightly, pointed out the lack of speed and certainty within the home buying/selling process is hugely damaging across the piece.

However, what was also evident – and this was commented on a number of times at our meetings – was that the problems the letter identified all had tangible, existing solutions available to address them, in areas such as ‘greater data sharing, more upfront information, and standardised tools across the industry’.

Many of our affiliate members offer these solutions, many CA member firms already use them, and we as a trade body have been pushing for greater use. But, and this is perhaps the real nub of the issue, without Government mandation right across the industry to use them, then we’ll certainly have a two-tier system and one that can still only work at the speed of those not using these solutions.

There are clear wins to be achieved here and the more the industry can promote what is currently available, the benefits, and how the Government can ensure we deliver the changes necessary and provide greater speed and certainty, the better our process will be.

We’ll keep working towards that, and judging from our recent meetings, we have a highly engaged membership base who understand this, and will continue to support us as we strive for that better process.

Finally, even though we have just finished our latest meetings, I have a few future dates for your diary, which I think you’re going to want to note down.

First up, is the 14^th September for our next series of member meetings. This time we are heading to York and the Grand Hotel, which is a fabulous venue right in the heart of the City. We will be holding a Dinner after the meetings so I hope you’re able to attend.

After that we’ll be holding our final meeting of the year – how odd to be writing that in May – on the 7^th December and once again it will be hosted by our affiliate member, Howden, in London.

And we are also able to announce the date and venue for our 2024 Conference so please put this important date in your diaries. On the 6^th February next year we will be heading to the Hilton Deansgate in Manchester for our full conference programme, followed by a drinks reception and, as usual, our Charity Dinner.

Our theme for next year’s Conference is ‘Moving Towards The Digital Age’, and we’ll be providing you with further information on this and all of the above meetings in due course.

On that note, may I once again thank you for all your engagement. Look out for future information on a number of webinar and training sessions we’ll be offering, and we’ll continue to work on your behalf over the weeks and months ahead.

Nicky Heathcote is Non-Executive Chair at the Conveyancing Association (CA)

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from The Conveyancing Association https://www.conveyancingassociation.org.uk/solutions-are-already-here-we-need-the-whole-industry-to-adopt-them/

HM Land Registry streamlines ‘front-loaded’ support for complex applications

New hub brings five key specialist support services together in one place on GOV.UK and on Portal, including Ask for Guidance

• Customers can save time and delays by talking to HM Land Registry before they submit complex applications
• Each service has a dedicated contact form to ensure enquiries reach the right person at the right time
• We’ve listened to customers and made it easier to access our range of specialist support services via Portal and GOV.UK
• Specialist teams on hand to assist before submitting large-scale or complex commercial applications, or starting to develop residential estates

HM Land Registry (HMLR) can provide supportive guidance ahead of submission to help ensure applications can be processed more efficiently. From 3 May 2023, we are bringing our five free pre-submission services together in one place.

We have listened to customers and made it easier and more convenient for them to access any help and support they need before lodging large-scale and complex applications, or starting work on developing residential estates.

The new Specialist Support Services Hub is available on Portal as well as GOV.UK and provides links to each of five teams: Application Management Services, Ask for Guidance, Developing Estates, Large-Scale Applications and Large-Scale Voluntary First Registrations. At a click, professional customers seeking help will be directed to the right person at the right time.

We cannot provide legal advice, comment on a point of law or guarantee to accept a registration until the application is made with all supporting documentation. However, using one of these pre-submission services can help customers avoid requests for information (requisitions) and enjoy consistency of service, especially when multiple transactions are involved.

            Specialist technicians Helene Jude and Mike Wilcock said:

“We’re keen to help you through all stages of a large-scale application. We particularly appreciate that these applications can be complicated to lodge so we’re here to help you to work out the best solution for your specific application.”

Efficiency savings

Customers are already benefiting from specialist support, with participants in one service trial estimating it saved them between 30 minutes and two hours per application. They also said it prevented:

• internal discussions on how to tackle the issue;
• dealing with potential requisitions once the application was submitted; and/or
• submitting an unnecessary application, in some cases.

Other benefits cited included greater certainty that the application would be accepted and confidence that it would progress smoothly; the ability to keep to strict legal timescales in undertakings; happier clients as transactions were processed more quickly and with less risk; the opportunity to pass on learnings within the firm; and minimising the impact of fees being ‘eaten up’ in dealing with requests for information (requisitions).

Customers are saying:

“The Estate Plan Approval webform service has been a welcome addition to Land Registry’s offering – it is very easy and intuitive to use, with a quick turnaround of results. The checklist and the automation element ensure that any incorrect applications are much less likely to be submitted, so the overall quality is improved, helping to speed up the process.” – Caroline Wofinden, Freeths

“The ‘ask for guidance’ has been very useful in assisting with more complex issues that arise. The advice is very clear and always delivered in a timely manner. This has become an invaluable tool and believe that it has helped us to avoid requisitions upon subsequent applications for registration” – Kirsty Gibson, Simplify

“Thank you so much for your quick response it is very much appreciated, you have been an absolute pleasure to deal with and your support in this matter has been second to none. In a world where we are so quick to moan or complain and slow to give positive comments, please accept this as my gratitude to you and the wider team, great work and thank you most sincerely” – Michael Burley, BNP Paribas

“I wanted to say a big thank you to both you and your team for your assistance in this matter. The way you have walked us through the whole process and dealt with our application so quickly has been outstanding and is really appreciated, especially in respect of our follow-up email with additional registers to be changed” – Melinda Blackmore, Heart of England Co-Operative Society Limited

The Services

Application Management Services (AMS)

Also previously known as ‘Managed Services’, customers can access AMS for new complex commercial transactions or infrastructure developments, such as complex portfolios with large numbers of similar applications, development sites comprising many parcels of registered and unregistered land under mixed tenure; or multiple applications that must be processed in order, including chains of under-leases.

As long as the application has not already been lodged, the answers aren’t in Practice Guides and cannot be handled by our Customer Support Centre, professional customers can apply using the Pre-submission enquiry service form PSS1 or Application Management Service form AMS1 for free expert help before submitting an application.

Ask for Guidance enquiry service

After a successful year-long pilot, we are rolling out this service – devised in response to feedback – to all of our customers. For those about to start a new piece of work that has complexities not covered in any of our Practice Guides, a member of our specialist team can help navigate registry processes and avoid unnecessary errors. As long as it fits the criteria, professional customers can put their query directly to our technical experts, who will help them avoid unnecessary application errors.

Criteria

• the query is in relation to a new piece of work, not an existing application
• the answer to the query is not already covered in any of our Practice Guides

The information gathered by this service also allows us to update our guidance where appropriate. To date, we’ve updated Practice Guides 29 in relation to charges of part, 31 over discharge of a sub charge and 40 Supplement 5, adding a section about sub-dividing a property title.

 Developing Estate Service

This is a free service for residential estates of six or more plots. Our experts can help simplify the application process and give clarity in advance of plot sales. Using the dedicated form, customers can lodge draft estate plans and transfers or leases, plus other documentation, such as consents or powers of attorney for approval, before starting their development, or in the early stages of the build, to help ensure smooth and seamless registration of plots.

For more information about developing estates, see Practice Guide 41

Large-Scale Applications

Our Bulk Applications Team can assist with large-scale applications, subject to criteria. Qualifying customers can get help in avoiding the complications associated with submitting applications based on a common deed or deeds. This service is available to customers submitting applications for any combination of registered and unregistered titles exceeding 50 in total.

Find out more about large-scale applications in Practice Guide 33

Large-Scale Voluntary First registrations 

Our dedicated team can help customers seeking the voluntary first registration of a portfolio of unregistered properties, land assets or a large landed estate. This free service is available to anyone registering more than 20 individual parcels or units of land and enables more efficient and consistent processing.

Find out more about large-scale applications in Practice Guide 33

 

Accessing Specialist Support Services

Customers can access all five Specialist Support Services using dedicated contact forms that send enquiries directly to the relevant teams. For those connecting to HMLR services directly or via third-party software (Business Gateway access), the forms are held on GOV.UK

Portal account holders can also access the hub via a link on the homepage, which takes them to a dedicated page showcasing each of the services and their criteria, before directing them to the relevant contact forms.

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from The Conveyancing Association https://www.conveyancingassociation.org.uk/hm-land-registry-streamlines-front-loaded-support-for-complex-applications/

Osprey Approach and InfoTrack help law firms to be CQS Compliant

Leading case management software provider, Osprey Approach, and award-winning conveyancing technology leader, InfoTrack, announce that they have collaborated with Tracy Thompson of Tracy Thompson Associates, lead assessor for the Conveyancing Quality Scheme, to create a three-part guide and on-demand webinar, designed to help law firms stay compliant with their responsibilities under the CQS.

In Part 1 of the guide, which covers the new updates to the CQS Core Practice Management Standards (CPMS), Tracy details the recent changes to the CPMS and gives advice on how firms can ensure they meet these standards to remain compliant.

In Part 2, firms will discover the legal technology tools available through the dynamic integration between Osprey and InfoTrack, to help law firms meet their CQS responsibilities with ease.

And finally, Part 3 looks at the common compliance pitfalls that most SME law firms face, as well as how to overcome them.

The technology providers also join Tracy Thompson on a webinar to discuss their advice and guidance on CQS compliance, which can be viewed on-demand here.

Chris Pucci, CEO of Osprey Approach, comments:

“We’re excited to have worked closely with InfoTrack and Tracy Thompson to produce valuable guidance for law firms, which will not only save legal professionals time, but will also ensure that they and their firm meet their compliance responsibilities and commitments with confidence.

“A centralised database and effective digital tools help conveyancers easily stay on top of compliance requirements. When you combine Osprey and InfoTrack you have access to a powerful platform that aids compliance, but crucially improves the quality of client service and profitability.”

InfoTrack’s Head of Sales, Lisa Edwards, adds:

“Technology can play a vital role in enabling firms to document their policies and procedures, and it’s important to be able to access and provide digital audit trails to demonstrate compliance.  InfoTrack provides security and certainty through its intuitive technology solutions, to help law firms manage their responsibilities with ease.”

In the absence of definitive guidance on which systems or processes firms should use to meet the standards requirements, Tracy recommends that law firms follow her three-step process to demonstrate compliance:

1. Say as you do – create documented policies and procedures that are bespoke to your firm;
2. Do as you say – ensure those policies are being followed and that all staff receive adequate training; and
3. Provide evidence – make sure everyone is aware of how the standard is being complied with and how you demonstrate that during an assessment.

To find out more about the tools available through integration with Osprey and InfoTrack to help make light work of meeting your CQS commitments, get in touch with one of our legal technology specialists today.

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from The Conveyancing Association https://www.conveyancingassociation.org.uk/osprey-approach-and-infotrack-help-law-firms-to-be-cqs-compliant/

InfoTrack adds improved Source of Funds checks to client onboarding service

Legal technology provider InfoTrack has released a new enhanced digital verification of funds solution encompassing Source of Funds, Proof of Funds, and Source of Wealth to make the whole process easier and faster for law firms and their clients.

Source of Funds and Source of Wealth checks are firmly in the spotlight as regulators like the SRA and the Law Society sharpen their focus on solicitors’ Customer Due Diligence, KYC, and AML responsibilities against a backdrop of increasing legislation.

The enhanced Source of Funds checks are embedded in the eCOS client onboarding platform which streamlines the data collection from individuals and provides solicitors with a single, convenient platform that also includes their Client Questionnaires, TA Forms, ID checks, and AML results.

The use of Open Banking technology means that eCOS can collect authenticated financial data directly from banks and building societies and provide it to solicitors with time-saving analysis and summaries of the individual’s financial position. The system also provides law firms with a digital audit trail of all the checks, data, and results throughout the onboarding process to be able to demonstrate their compliance to regulators.

InfoTrack COO, Sam Jordan comments:

“Our dream is for both our clients and their clients to have one simple, easy, and convenient way to exchange information and complete the necessary checks to make client onboarding faster and better. The enhancements to our Verification of Funds product have been designed in partnership with our clients, and we’re excited to give them more of the tools they need to do their work brilliantly.”  

Law firms have already shared their enjoyment in using the new enhanced Verification of Funds solution, which is saving time and supporting risk management.

Amy Church, Managing Partner at Lucas & Wyllys Solicitors says:

“Enhanced VOF makes getting to the bottom of source of funds and wealth much simpler. The result is easy to understand, thanks to the breakdown on the first page. The result helps us to easily identify where the funds are held, how they were accumulated, and what further checks we need to carry out to complete our risk assessment. It makes the complicated source of funds and wealth task easier and quicker to carry out.”

For more information about eCOS and verification of funds, visit: bit.ly/42BlJSP

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from The Conveyancing Association https://www.conveyancingassociation.org.uk/infotrack-adds-improved-source-of-funds-checks-to-client-onboarding-service/

Redbrick Solutions and Armalytix combine technology to provide essential Source of Funds and Wealth checks

Redbrick Solutions, leading conveyancing case management provider, and Source of Funds and Wealth experts, Armalytix, have combined their technology to intelligently conduct faster and more effective Source of Funds and Wealth checks.

Armalytix is a data intelligence firm that allows consumers to safely share Open Banking and other data to deliver financial insights to firms, helping those firms conduct faster and more effective AML, fraud and financial risk checks. With Redbrick’s partnership with Armalytix, clients have the financial data, evidence and answers they need, effortlessly integrated into their Redbrick workflows.

Armalytix provides legal firms with:

• Upfront financial fact finds
• Market-leading analysis
• Legal Eye endorsed questionnaires
• And much more!

Tom Lyes, Head of Legal and Property at Armalytix, comments,

“Partnerships are incredibly important to us at Armalytix and we’re really excited to be working with the team at Redbrick. Working with them it’s really clear that they understand the Conveyancing landscape and put a real emphasis on increasing ease and efficiency for all parties. Our fast and effective checks fit neatly within that approach and allow Redbrick’s clients to request our market leading Source of Funds reports simply, in just a few clicks.”

Jo Hodges, Director at Redbrick Solutions comments,

“Continuously evolving our conveyancing case management solution is crucial to ensuring our clients achieve maximum benefit.  Our partnership with Source of Funds experts, Armalytix, introduces a seamless process to transform the complex, manual process of Source of Funds and Wealth checks.  We are delighted to be working with them.”

Armalytix provides an essential tool with accurate data to transform the manual process of Source of Funds and Wealth checks into a simple, digital experience for you and your clients.

Discover how your legal practice can manage conveyancing digitally, stay compliant and efficient by contacting the Redbrick team or request a software demonstration.

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from The Conveyancing Association https://www.conveyancingassociation.org.uk/redbrick-solutions-and-armalytix-combine-technology-to-provide-essential-source-of-funds-and-wealth-checks/

Our News Coverage | April 2023

As we motor into Spring and what should hopefully see a pick up in UK housing activity, the CA has been focused on a number of areas which present benefits for both member firms and their clients.

At the start of the month the CA was helping launch the fourth iteration of the BASPI, working with a large number of trade organisations and other stakeholders to help draw attention to the new version and to hopefully increase take-up of its use.

The provision of upfront information remains a key workstream for the CA, and the regular article from Beth Rudolf in Estate Agent Today this month, highlights the progress that is being made, and the pursuit of digital conveyancing.

At the end of the month, the CA also launched its Building Safety Act and Building Safety (Leasehold Protections) Guidance, which should help firms navigate what is a potentially complex area, given the introduction of the new law.

Finally, we would draw your attention to the CA meetings taking place on the 15^th May which will include the first Lender Engagement workshop, amongst other important and informative sessions.

Full details of all coverage in April can be found below:

 

Trade and representative bodies, including The Conveyancing Association, RICS and SLC, launch fourth iteration of the BASPI

3^rd April

Property Industry Eye

Today’s Conveyancer

The Negotiator

Inside Conveyancing

Legal Futures

Estate Agent Today

Mortgage Introducer

 

Upfront information is here and now – digital conveyancing is next! Regular article from Beth Rudolf

8^th April

Estate Agent Today

 

How to keep you and your clients safe against the threat of mortgage fraud – Regular article from Beth Rudolf

24^th April

Mortgage Solutions

 

‘No conveyancer can be expected to advise on environmental risks of the future’ says Conveyancing Association

25^th April

Mortgage Solutions

 

Conveyancing Association launch new Building Safety Act and Building Safety (Leaseholder Protections) Guidance

26^th April

Mortgage Solutions

Development Finance Today

The Intermediary

Mortgage Finance Gazette

Best Advice

Cherry

Bridging & Commercial

Today’s Conveyancer

Property Reporter

Inside Conveyancing

 

The CA May meetings – a chance to share and learn together

26^th April

CA website

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from The Conveyancing Association https://www.conveyancingassociation.org.uk/our-news-coverage-april-2023/

The CA May meetings – a chance to share and learn together

Despite an extraordinary amount of rain in the last few weeks, Spring is definitely with us, and we are just a few days away from the month of May, which is traditionally a strong period for the housing market.

I’m not sure if there is ever a day/week/month which is not busy for conveyancing firms, and I sincerely hope you are working through strong business volumes and you are overcoming the many challenges that come with working in this sector.

We, of course, at the CA are here to help and support you in those endeavours, especially in areas which can seem particularly complex and in which there are a great deal of myths or misinformation doing the rounds.

In that regard, I wanted to highlight our recently published Guidance document for conveyancing firms which focuses on the new Building Safety Act and Building Safety (Leaseholder Protections) (England).

It’s fair to say there has been a lot of ‘noise’ about this, and from conversations I’ve had, this is in no way an easy area to manage on behalf of clients. Not least because this is a work in progress, the legislation has yet to be tried in court and until it is, there is going to be a level of unknowability about how this might play out in practice.

Hopefully, the Guidance can give you a greater level of insight into this and what you need to consider as a conveyancing firm dealing with such cases. We’ve tried to set out the main issues and dispel some of the myths that have been coming up frequently and it is now available to download from here.

May is a big month for the Association and I want to draw your attention to our series of meetings which take place on the 15^{th of} May – once again kindly hosted by Howden at their offices in London.

These are an important series of meetings not least because we will be holding the CA’s AGM, as well as our Legal Members’ Meeting and also our All-Members’ Meeting.

It is therefore a packed day of sessions, and we would certainly like as many of you as possible to attend.

A big focus for the day, and taking place during our Legal Member meeting, will be our first Lender Engagement Workshop. You’ll recall that one of the big takeaways when we asked member firms what they would like to see more of, was the CA facilitating greater levels of lender engagement and this is one of the first steps in delivering on that.

Meeting delegates will be split into groups to debate various issues, and then we’ll feed back to everyone, but also put specific points via a Panel Q&A which will include representatives from both LMS and the Lender Exchange.

We have a series of questions we’d like to put to member firms about their existing relationships with lenders, what works, what could be better, and where there is an opportunity to communicate and develop the relationship to get better outcomes. And then we’ll have a good honest debate about what we can do in practice to deliver on this.

I also wanted to highlight a workshop session taking place within our All Members’ Meeting entitled, ‘Future Vision for Digital Conveyancing, Material Information and a Consumer Centric Home Moving Process’ where we’ll be discussing recent progress made in this area, what it will mean for conveyancing firms, and how this will really shape the future of the sector.

Anyone who attended our Conference will know just what is at stake here, and we therefore want this to be an outcome-focused workshop that will provide some tangible solutions for firms to deal with all these issues.

There will be much more besides this of course, and this is your chance to learn what we’ve been doing as your trade association, to be made aware of a range of subjects and issues shaping the conveyancing landscape, and of course to network with colleagues and peers to share your collective expertise and knowledge.

You can sign up to attend on the 15^th May by visiting the link here, and we’re all looking forward to bringing together our membership and stakeholders in London next month. See you there.

Nicky Heathcote is Non-Executive Chair at the Conveyancing Association (CA)

 

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from The Conveyancing Association https://www.conveyancingassociation.org.uk/the-ca-may-meetings-a-chance-to-share-and-learn-together/

Conveyancing Association launch new Building Safety Act and Building Safety (Leaseholder Protections) Guidance

The Conveyancing Association (CA) – the leading trade body for the conveyancing industry – has today (26^th April 2023) launched a guidance document for conveyancing firms which addresses The Building Safety Act and Building Safety (Leaseholder Protection) (England) Regulations 2022.

Leaseholder protections outline the need for a Leaseholder Deed of Certificate and Landlord Certificate and apply to buildings at least 11 metres/five storeys, while a new regulatory framework applies to buildings over 18 metres with a special role for the Buildings Safety Regulator.

The Guidance has been created to provide conveyancing firms with details on what the Act and Building Safety Regulations currently contain and what they should consider in light of its enactment into law.

The document covers a number of areas including: what is a relevant building; how to determine height; how to determine the number of storeys; what are the relevant defects covered; who is a qualifying leaseholder; the exception of leaseholder-owned buildings; the Leaseholder Deed of Certificate; the evidence required; leaseholder protection; who else might be responsible; the developer, landlord, superior landlord, or the leaseholders; and the landlord certificate.

Also included in the Guidance is a range of frequently asked questions and answers, plus a list of questions all conveyancing firms should be considering when working on cases with relevant buildings.

The CA has committed to updating the guidance as and when it becomes aware of further changes, given the legislation contained in the Act goes live at different times.

Conveyancing firms can download a copy of the Guidance by visiting the downloads page on the CA website at: https://www.conveyancingassociation.org.uk/downloads/

Beth Rudolf, Director of Delivery at the Conveyancing Association, commented:

“Given the complexity of the Building Safety Act, the Building Safety Regulations and Fire Safety Regulations, we at the CA decided to create this guidance which combines information available on the Gov.uk website as well as from the Department for Levelling Up, Housing and Communities.

“It is designed to provide a precis of what we feel are the relevant parts of the legislation, and hopefully steers conveyancers in the right direction when it comes to carrying out their work for cases which involve relevant buildings.

“That said, it is very much a work in progress, and as the industry gets into the practicalities of dealing with these cases and as we learn more about how this is going to sit within our sector, we will update our Guidance to reflect any changes.

“The normal disclaimers apply, particularly as the legislation has not yet been tested in Court, but we hope this helps set out the main issues and items which conveyancing firms will need to consider and advise clients on, and to dispel some of the myths out there which are making conveyancers’ jobs even harder.”

The post Conveyancing Association launch new Building Safety Act and Building Safety (Leaseholder Protections) Guidance appeared first on The Conveyancing Association.

from The Conveyancing Association https://www.conveyancingassociation.org.uk/conveyancing-association-launch-new-building-safety-act-and-building-safety-leaseholder-protections-guidance/

Is your firm up to speed with April’s AML changes?

The 2022 Money Laundering and Terrorist Financing (Amendment) (No.2) Regulations, effective from 1 April 2023, will require businesses subject to the MLRs to conduct checks of the register of overseas entities (ROE) at Companies House for dealings with corporate entities.

For dealings with trust entities, businesses subject to the MLRs will have to comply with checks of the trust registration service (TRS) maintained by HM Revenue and Customs (HMRC).

These changes are intended to improve transparency and combat money laundering and terrorist financing, and failure to comply with these requirements could result in significant penalties for businesses. Legal experts are urging UK businesses to pay close attention to these changes and ensure that they are in compliance by the deadline to avoid potential legal and financial consequences.

Whether we like it or not, all of us in the legal profession, including its Regulators, are firmly in the spotlight of public opinion and must be seen to ensure our AML processes are where they need to be. With this added and stringent provisions, our Regulators will be under even greater scrutiny to continue to review compliance amongst firms calling in a variety of documents on a regular basis and those like the SRA will continue to apply pressure through its Thematic Review regime.

So, are you prepared for a Regulatory review? Have you conducted, or had an external Independent AML Audit? Are your Policies, Controls and Procedures in good order? Do you, and more importantly, your staff know your AML risks? What is the new Regulation 18C? What are some of the key issues for 2023?

Legal Eye has put together this comprehensive guide for you to download and use.

What’s inside:

• New legislative requirements for 2023
• SRA Thematic Report on MLCO and MLRO roles
• Independent AML Audits
• Risk assessment key points
• Technology
• Developments in Crypto Currency
• Conclusion
• Your key questions answered.

Download this thorough 27-page AML Update booklet  here

The post Is your firm up to speed with April’s AML changes? appeared first on The Conveyancing Association.

from The Conveyancing Association https://www.conveyancingassociation.org.uk/is-your-firm-up-to-speed-with-aprils-aml-changes/

Can legal case management support your firm through uncertain UK housing market conditions?

The cost-of-living crisis and high mortgage rates we have seen so far this year have inevitably weakened UK market conditions.  The uncertainty in the current housing market is bound to impact important business decisions, especially decisions that implement constructive change within a law practice.  Reports from Nationwide confirming ‘March saw a further decline in annual house price growth, with prices down 3.1% compared with the same month last year,’ should not distract a law firm from wanting to future proof the practice and introduce ease and productivity.

Law firms considering implementing legal case management software should certainly weigh up the benefits of using a new solution and whether the software provider aims to keep law firms compliant, efficient, and profitable.  Reputable conveyancing case management provider, Redbrick Solutions, offer numerous cost-effective benefits including a unique pay as you go business model, meaning firms are only charged on a transactional basis for every active matter.  Additionally, Redbrick’s unique payment method gives firms the ability to pass transaction fees on as a disbursement.  Quotes are not charged for, enabling firms to quickly send out initial client documentation, chase up quotes and capture client details without the risk of being out of pocket should the client not proceed to instruct you.  Redbrick also offer the option of a fixed per user per month fee if you are unable to pass on a transactional fee.

Redbrick provide the assurance of a cost-effective conveyancing case management solution with further additional benefits of frequent upgrades at no cost, plus free support and maintenance.  Redbrick believe in future proofing law firms with a unique business model ensuring clients stay productive and profitable.

James Hadley, Director of KingsGuard Legal, comments:

“Redbrick’s legal case management software is user friendly, easy to navigate, and the Redbrick team go above and beyond.  Redbrick’s support services are exceptional and responsive, so any queries are resolved promptly, and the platform is constantly being developed in keeping with industry changes.”

Remaining profitable is key across all businesses and in the doom and gloom of the current UK housing pressures Nationwide have stated, ‘Conditions should gradually improve if inflation moderates in the coming months as expected, easing pressure on household budgets.’ Implementing constructive change and future proofing your law firm ahead of the upturn in transaction volumes would be wise.

Redbrick clients can also benefit from our partnerships with leading conveyancing panel management providers, TPS and Yourkeys, enabling clients to access additional transactions during quieter periods.

Discover how your firm can manage conveyancing matters digitally, and stay compliant and profitable with Redbrick Solutions conveyancing case management by downloading our brochure or request a software demo.

The post Can legal case management support your firm through uncertain UK housing market conditions? appeared first on The Conveyancing Association.

from The Conveyancing Association https://www.conveyancingassociation.org.uk/can-legal-case-management-support-your-firm-through-uncertain-uk-housing-market-conditions/

How to give an M&A deal the best possible chance of success

As more and more law firms look to merge, acquire departments, or downscale, a robust approach to planning and mitigating risk is critical. Not least because, without adequate due diligence (DD), the hopes and ambitions of those involved in any merger or acquisition can be shattered.

Deals fail due to many reasons, including cultural differences, lack of vision, integration issues, the chemistry of the key players, and other factors. Indeed, according to one source, when it comes to legal M&A, “only 1 in 10 initial conversations create enough interest to advance to formal discussions”. But there are things firms can do to give any potential deals the best possible chances of success, and our number one recommendation would be to preparation, preparation, preparation.

But what does this look like in practice?

Prepare all necessary Law Firm information

There is a plethora of information needed during the M&A process, and it’s vital that firms contemplating an acquisition know what information to ask for in the early stages of the process. There is no point wasting everyone’s valuable time if something that should have been established upfront later comes to light and derails the deal. Likewise, selling firms should establish what documentation they must supply throughout the process and ensure that this information presents them as an attractive merger or acquisition prospect.

For law firms, the M&A process is likely to involve the following documentation:

• File reviews
• Client care documentation & regulatory requirements
• Risk management framework (office manual) & associated policies
• Business registers
• Business plans
• Other compliance requirements (e.g., insurance, etc.)

To give your deal the best chance of success; consider appointing an independent expert to audit this information and highlight any red flags. Doing this will allow you to take corrective action before it becomes problematic.

At Legal Eye, our comprehensive on/off-site M&A compliance audit delves into the detail and ensures that any risks identified during the DD process are spotted and remedied.

We also offer a preparation for sale compliance audit to ensure everything is in order before proceeding with the final deal.

Gather the other necessary information

As well as the standard documents used by law firms, a vast range of other information and factors will affect the M&A process. This includes:

• Whether there is any IP or technology, this includes patents, registered and common law trademarks and service marks, copyrighted products and materials, confidentiality agreements, IP disputes, etc.
• Any existing business contracts (material contracts) and any potential issues relating to these (e.g., contracts that would have a negative impact if terminated)
• Whether there is any current, settled or potential for litigation against the seller
• Any property owned or leased by the firms
• And more.

Get your finances in order

Any firm buying or merging with another business will want to ensure they understand the target firm’s historical, current, and predicted future financial position. As well as helping to determine whether a deal is viable, this data will help to establish the appropriate structure of any contract, a fair price, and whether any guarantees are needed.

Buyers will request access to substantial financial data as part of the M&A due diligence. As such, any firm involved in a merger or acquisition should audit and prepare the necessary information in advance; this includes supporting financial policies and documents.

Checking accounts, ledgers and balances, Legal Eye provides a M&A financial compliance audit that helps law firms to spot and fill any gaps. Please note we do not review tax provisions or give tax advice.

Make sure the vision, culture and personalities fit

Misaligned visions, cultures, and personality clashes are two key reasons why many law firm M&A don’t go ahead. And, of course, they provide good reasons for ending a potential deal without going into too much detail.

While it is only sometimes possible to resolve matters if there is a clash, it is worth establishing whether there’s a strategic fit early on to save time.

Things to consider in relation to this include:

• Service areas
• Clients and approach to acquisition
• Employees (current structure, plans post deal, management teams, levels of engagement etc.)
• The personalities at the top
• Digital capabilities (where the firms operate dramatically differently)
• Approach to environmental issues and CSR

Even when all this is considered and prepared for, there is no 100% guarantee of the deal’s success. But, by being vigilant about the possible pitfalls and going into the process as informed and prepared as possible, the feasibility of the M&A is greatly improved.

The post How to give an M&A deal the best possible chance of success appeared first on The Conveyancing Association.

from The Conveyancing Association https://www.conveyancingassociation.org.uk/how-to-give-an-ma-deal-the-best-possible-chance-of-success/

Helping clients choose their conveyancer

Marketing can lead the proverbial horse to water – but how on earth do you make it drink?

I think the answer is twofold. Data and clients.

I say twofold – in fact both themes are closely interrelated. Data around conveyancing performance is now emerging in a format that clients can understand and compare which is great news. The Conveyancing Map offers firms the chance to give clients an objective insight into their market presence and their operational efficiency. Instead of platitudes around putting clients first, firms can now demonstrate, using objective data, why they should be instructed. For example, evidence of their Market knowledge (e.g. more cases in the area than anyone else), that they are specialists in a particular area (e.g. greatest percentage of leasehold or new build cases) and their operational efficiency (e.g. post completion performances).

The second is clients’ own data. The bombshell that has landed is the new world of client reviews – and this is where I think change will also be driven. Companies like Trustpilot and Review Solicitors are now using data to give an aggregated voice to consumers that has never been heard before and which is proving immensely powerful in all walks of life including legal services. Hearing how former clients have fared is hugely influential for prospective clients unsure of their next steps.

In fact, the conveyancing market could have been designed specifically to maximise the impact of client reviews. Conveyancing is an intangible service that is poorly understood, infrequently used and opaque at the point of engagement. Set against that, Trustpilot’s own research has shown that 92% of consumers read reviews and 90% trust a site more that includes reviews. The company has 55 million reviews and adds 1 million every month. This, together with objective performance data is the new force that conveyancers will be wise to embrace as clients share their experiences of conveyancing.

Without doubt, as new, objective data becomes available and accessible to clients, this heightened transparency will be gratefully received by prospective clients thirsty for differentiators to help them decide where to place their instructions. Firms who embrace this will immediately take a metaphorical step closer to their clients by demonstrating that they appreciate it’s a difficult decision they’re being asked to make and that they want to help. Firms who don’t, can continue to rely on price.

Redbrick clients using Conveyancing Data Services (CDS) can benefit from Conveyancing Map’s invaluable solution. Learn more about how Conveyancing Map can benefit your firm in our webinar on Thursday 20th April 2023 at 11:30am, register your FREE place here.

Richard Hinton, Director at Pitsford Consulting

The post Helping clients choose their conveyancer appeared first on The Conveyancing Association.

from The Conveyancing Association https://www.conveyancingassociation.org.uk/helping-clients-choose-their-conveyancer/

InfoTrack launches “The Roxys” Property Report Cover Competition

London, 13 April 2023.

InfoTrack is putting a smile on their clients’ faces this Spring with the launch of a competition to find the best Property Report front covers. The promotion encourages users of InfoTrack’s Property Report solution to celebrate their creativity by showing off the best front cover for Reports on Title within the platform. Each month the best examples will win an award dubbed ‘a Roxy’, named after InfoTrack’s Property Report Product Specialist, Roxanne Bailey, who will be judging the competition.

Roxanne said of the initiative:

“Property Report allows conveyancers to create beautiful reports that their clients love. With The Roxy’s we want to acknowledge the care that goes into creating these important documents while also demonstrating how easy it is to build a professional, branded Report on Title which is both easy to digest and looks great for homebuyers.”

The Roxys, which launched this week, will be awarded to the firm judged to have entered the best document cover each month, with those winners being entered into a public vote later in the year.

For more information, visit https://www.infotrack.co.uk/the-roxys/

About Property Report

Property Report is InfoTrack’s data-driven Report on Title solution which automatically extracts matter-specific data from Local Authority, Drainage & Water and Environmental searches, as well as providing a dynamic content library, to enable Reports on Title to be created in as little as 15 minutes.

About InfoTrack

InfoTrack are pioneers in digitising legal processes. We provide a powerful suite of solutions across client onboarding, identity verification, e-signature, and conveyancing services. Our services help to assure compliance, enhance your client experience, and improve productivity within law firms. We take on the burden of paper-intensive, demanding administrative tasks within a single, award-winning platform. We empower firms to focus on delivering an exceptional client experience with every transaction.

Contact:

Chris Lund, Head of Marketing – chris.lund@infotrack.co.uk – 0207 186 8090

Bronwyn Townsend, Senior Marketing Manager – bronwyn.townsend@infotrack.co.uk – 0207 186 8090

The post InfoTrack launches “The Roxys” Property Report Cover Competition appeared first on The Conveyancing Association.

from The Conveyancing Association https://www.conveyancingassociation.org.uk/infotrack-launches-the-roxys-property-report-cover-competition/

In a Digital World, Don’t get Left Behind in the Analogue Age

Upward shift in demand means firms are now queuing to get access to our services.

Early adoption is often seen as a risk – in an increasingly digital world, it’s common knowledge that the first build is often the weakest, and that the bugs tend to be ironed out a little while down the road. We ascribe at least part of the relatively slow initial uptake of SDLT Compass to this, with firms waiting to be convinced of the worth of the technology, and even of the existence of an issue with Stamp Duty at all.

But in the time since Compass launched, the industry has seen a lot of changes, and a great deal of upheaval.

We’ve had alterations to the Stamp Duty thresholds, both temporary and more long term. We’ve seen alterations to the way in which Stamp Duty is charged on purchases by non UK-based buyers, continued confusion over the application of the 3% surcharge and alterations to HMRC official guidance.

We’ve also seen a rise in claims made against firms for ‘missed’ reliefs and incorrectly assessed SDLT on historical cases, with Multiple Dwellings Relief, Mixed Use relief and others making their way blinking into the harsh light of day and the microscope of so-called ‘claims farms’.

Finally, we’ve seen amendments to the Law Society’s CQS guidance which firmly shifted yet more responsibility both for the assessment of SDLT liability and the formation and maintenance of systems and procedures for firms to ‘check their working’.

In light of this constant stream of changes, it’s perhaps unsurprising to note that Compass has also evolved, going through numerous updates which have kept pace with the alterations and allowed our users to keep abreast of the game. Indeed, notably following Kwasi Kwarteng’s now infamous mini budget last year, Compass was updated in line with the new changes within 24 hours, contrasted against the ‘official’ HMRC calculator which took over a fortnight to be adjusted and useable.

It’s also unsurprising to note the increased demand for our services. News travels fast in the conveyancing community, and more and more firms are becoming aware of the need for a better solution to the challenges presented by SDLT, and the comprehensiveness of solution provided by SDLT Compass.

With demand slowly rising again in the conveyancing sector, even as rate rises cause uncertainty and price drops, firms need an edge in order to compete. Fewer conveyancing firms exist now than a decade ago, but demand for their services only ever goes upwards.

Against that backdrop, it’s no exaggeration to say that firms trying to stick to the old, analogue way of doing things risk drowning under the flood of work, to say nothing of storing up potential liability which could come back to haunt them financially and professionally in the years to come.

Call us today and get to the front of the queue, or risk getting left behind.

The post In a Digital World, Don’t get Left Behind in the Analogue Age appeared first on The Conveyancing Association.

from The Conveyancing Association https://www.conveyancingassociation.org.uk/in-a-digital-world-dont-get-left-behind-in-the-analogue-age/

Impressive double accolade celebrated at family-run law firm

A family-run Staffordshire law firm is celebrating as one of its specialist team continues to carve out an impressive career with a double accolade.

Lichfield-based Adcocks Solicitors is delighted to announce that trainee Solicitor Maddie Williams was admitted to the role of solicitors on April 1st following the end of her training contract on 31^st March.

Maddie will take up her role as a fully qualified Solicitor with immediate effect, joining the Private Client and Family team full-time.

And that’s not all. Maddie has also won praise from Greater Birmingham Chamber of Commerce after being named as the Sutton Coldfield, Lichfield and Tamworth and Cannock Chase Young Professional of the Year.

Maddie praised by award judges for going “above and beyond” for clients

Judges said Maddie had “gone above and beyond for often vulnerable, elderly clients” and had “taken the initiative to reform and reshape policies and procedures to give a more seamless client journey.”

Maddie, who specialises in private client work, creating wills, lasting powers of attorney, and trusts, said she was “incredibly proud” to have achieved her goal in qualifying as a solicitor.

She added: “I thoroughly enjoy the work that I do on a day-to-day basis.

“It can be very rewarding assisting the elderly and sometimes vulnerable clients in matters that can often be daunting or distressing to them.

“I always endeavour to make the process as smooth as possible for them, so it is a huge honour to be recognised for my efforts with this award, which also puts me in good stead for my future career.”

“Hard-working and dedicated” – Maddie continues to carve out impressive law career

Maddie joined Adcocks Solicitors in June 2018. Having achieved a BA degree in English from the University of Nottingham and LLM Master of Laws from Birmingham City University, Maddie was taken on as a permanent member of the Adcocks’ team.  Maddie went on to pass her Legal Practice Course (LPC) with a distinction and began her training contract in 2021.

Head of Adcocks’ Private Client and Family department Kerry Davies, who has supported Maddie on her journey as her training principal, said: “Maddie is extremely dedicated and hard-working and has always gone over and above in her commitment and service to our clients.

“Qualifying as a solicitor, and receiving this prestigious award, are well-deserved milestones for Maddie, who is a great asset to Adcocks and our Private Client and Family team.”

For more on Adcocks, whose specialist areas include Enfranchisement and Leasehold Property and Residential and Commercial Property please visit www.adcocks-solicitors.co.uk, call 01543 442100 or email info@adcocks.com.

The post Impressive double accolade celebrated at family-run law firm appeared first on The Conveyancing Association.

from The Conveyancing Association https://www.conveyancingassociation.org.uk/impressive-double-accolade-celebrated-at-family-run-law-firm/

Our News Coverage | March 2023

March saw the inaugural National Conveyancing Week and the CA, and representatives, took a full part in the range of events that took place throughout the five days.

There was a great deal of focus on the provision of upfront information and the CA’s Director of Delivery, Beth Rudolf, presented at the HBSG’s Upfront Information Roadshow which outlined what is here, coming down the track and how the provision of upfront information can be a game-changer both conveyancing firms and the consumer.

For more information on upfront information, please look at articles from Beth which featured this month in Mortgage Solutions and Today’s Conveyancer, while there are a variety of news stories which cover National Conveyancing Week listed below.

Finally, at the end of the month, the fourth iteration of the BASPI form was launched, with support from the CA and a host of other trade and regulatory bodies.

Full details of all coverage in March can be found below:

 

Conveyancers urged not to compete with technology but build on the solutions it provides – 2023 Conveyancing Association Conference

1^st March

Inside Conveyancing

 

The rapid remortgage dream will soon become a reality – Beth Rudolf article

3^rd March

Mortgage Solutions

 

#BCAwards2023 Sold-out awards to recognise industry excellent – mentions Beth Rudolf/CA

13^th March

Today’s Conveyancer

 

MyIdentity scheme set to revamp ID checks for new home sales – mentions the CA

13^th March

Today’s Conveyancer

 

National Conveyancing Week hopes to ‘shine light on home-moving issues’ – mentions Beth Rudolf/CA

14^th March

Estate Agent Today

 

More positive consumer outcomes expected in 2023: James Bawa – mentions the CA

15^th March

Mortgage Strategy

 

All property market stakeholders urged to attend HBSG Upfront Information Roadshow during National Conveyancing Market

17^th March

Cherry

The Intermediary

Today’s Conveyancer

Inside Conveyancing

Estate Agent Today

 

The need for upfront property information prevails – Beth Rudolf article

17^th March

Mortgage Solutions

 

Boost for digital conveyancing after Framework opens up LPE1 enquiries – comments from Beth Rudolf

20^th March

The Negotiator

Estate Agent Today

 

Property professionals prepare for National Conveyancing Week – mentions Beth Rudolf/CA

20^th March

Estate Agent today

 

National Conveyancing Week: upfront information ‘myths’ debunked – mentions Beth Rudolf/CA

22^nd March

Law Society Gazette

 

The Conveyancing Association: Celebrating National Conveyancing Week – Beth Rudolf article

24^th March

Today’s Conveyancer

 

Over half of HM Land Registry’s new entries could take longer than a year – includes comments from CA Exec members/mentions CA

27^th March

Mortgage Solutions

 

Trade association launches ‘conveyancing first’ register of logbooks, – includes comments from Beth Rudolf/mentions CA

27^th March

The Negotiator

Estate Agent Today

Property Industry Eye

Today’s Conveyancer

Inside Conveyancing

 

High-rise lending still hindered by fresh certificate obstacle, conveyancers warn

28^th March

Mortgage Solutions

 

Borrowers stuck on 7% default rates as Land Registry backlog ‘beyond a joke’ – includes comments from CA Exec members

28^th March

Your Money

 

The ides of March were all about conveyancing – regular Nicky Heathcote blog

29^th March

CA website

 

Trade and representative bodies, including The Conveyancing Association, RICS and SLC, launch fourth iteration of the BASPI

31^st March

Mortgage Strategy

The Intermediary

Mortgage Finance Gazette

Cherry

Mortgage Solutions

Financial Reporter

 

The post Our News Coverage | March 2023 appeared first on The Conveyancing Association.

from The Conveyancing Association https://www.conveyancingassociation.org.uk/our-news-coverage-march-2023/

Trade and representative bodies, including The Conveyancing Association, RICS and SLC, launch fourth iteration of the BASPI

Trade and representative bodies representing the legal, surveying, estate agency and property management sectors, including the Conveyancing Association (CA), RICS and the SLC, have today (31^st March 2023) launched the fourth iteration of the BASPI – Buyer’s and Seller’s Property Information form.

The BASPI, developed by the upfront information working group of the Home Buyers and Sellers Group (HBSG), is a ‘single source of truth’ dataset, designed to include all the information required on a property when it is put on the market for sale.

Split into two parts, Part A covers the disclosure of material facts required by Regulations, while Part B includes additional information required for the legal process. Information provided in the BASPI allows the seller to ensure their property is both ‘Market Ready’ and ‘Sale Ready’.

Part A asks for information regarding disputes and complaints, alterations and changes, notices, specialist issues, fixtures and fittings, utilities and services, insurance, boundaries, rights and informal arrangements, and any other issues affecting the property. Part B covers legal ownership, legal boundaries, services crossing other property, energy, guarantees, warranties and indemnity insurances, occupiers, and completion and moving.

This new version of the BASPI introduces eight new questions to be answered with the aim of making it easier to pre-populate the forms used by stakeholders in the home moving process.

The major change in this iteration comes with a move away from a specific question on building safety regarding the EWS (External Wall System) form, to a wider question on overall building safety and remediation to capture anything within the seller’s knowledge about building safety since the publication of the Building Safety Regulations under the Building Safety Act.

As the BASPI is completed by the seller it will be verified via the Leasehold Property Enquiry Form (LPE1) by the Lease Administrator but should provide a heads up to conveyancers much earlier in the process.

Other changes to the BASPI include requests for more information as a direct result of the National Trading Standards Estate & Letting Agent Team (NTSELAT) guidance on mandatory material information to be provided at the point a property is put up for sale. The NTSELAT is working through a three-phase project on improving the availability of upfront information in the conveyancing process.

Beth Rudolf, Director of Delivery at the Conveyancing Association, commented:

“Every year we conduct a full review and industry consultation to ensure the BASPI is up to date and reflects any changes in law, and ongoing updates that may be required. This is the fourth iteration of the dataset and it includes a number of changes that will ensure it remains fit for purpose and it retains all the information required for a property sale at the outset.

“This is all about ensuring stakeholders secure the information they need to be able to confidently provide it to consumers allowing them to make a fully-informed decision about the property and whether they want to proceed with plans to purchase. Our work within the HBSG will continue and we aim to ensure the BASPI remains relevant and up to date, and I would like to thank all those who have taken the time to work on this project and help us deliver this next-generation BASPI dataset.

“Our thanks in particular go to RICS and to the Property Data Trust Framework Sub-Group of the HBSG who are updating the Schemas to ensure the data captured by the BASPI can be used interoperability between systems and the provenance of that data can be authenticated.”

Simon Law, Society of Licensed Conveyancers (SLC) Chairperson, said:

“The SLC is entirely supportive of the principle of upfront information and use of the BASPI, which continues to evolve and develop in an ever-changing world. It is an important tool that estate agents and vendors can use to help deliver important information early in the process to better inform potential buyers and speed up transactions.”

Mairéad Carroll, Senior Specialist, Property Standards at RICS, said:

“RICS is pleased to support the work to develop and update the BASPI. With the push towards getting more upfront information at the start of the sales process, integrity and accessibility of the data will become essential to ensure transactions progress smoothly, benefitting both the buyer and seller.”

The post Trade and representative bodies, including The Conveyancing Association, RICS and SLC, launch fourth iteration of the BASPI appeared first on The Conveyancing Association.

from The Conveyancing Association https://www.conveyancingassociation.org.uk/trade-and-representative-bodies-including-the-conveyancing-association-rics-and-slc-launch-fourth-iteration-of-the-baspi/

The ides of March were all about conveyancing

March has been a very interesting month in the world of conveyancing, not least because we at the CA – and I’m sure many of our member firms – took a full part in the first ever National Conveyancing Week (NCW).

 

I was very disappointed to not be at the NCW as I was on the other side of the world, but there was a great deal of involvement from the CA and we had lots of buy-in for it. 

 

It was clearly a major moment for our industry and I should give a huge ‘shout out’ to Rob Hailstone, David Opie and all those who helped put together the week-long series of events which I think went a very long way to highlighting the conveyancing sector, supporting firms as they seek to navigate a changing market, and indeed drawing much greater attention to the role of conveyancing and conveyancers in the buying/selling process.

 

As many have said to me before, conveyancing tends to be the least understood of all parts of the process and yet, arguably – although I admit many would disagree with me – the most important. If conveyancers don’t carry out the work then no-one gets to buy or sell. It’s really that simple.

 

Which is why we at the CA have been very supportive of National Conveyancing Week, and it’s my hope this will be repeated year after year, because I think we would all agree, the central role of conveyancing in the process does need to be highlighted, and we as a property market – and all stakeholders – need to come together regularly to push forward those initiatives and measures which will improve the experience for all.

 

There were a lot of events through the week, and I know member firms also opened up their doors to industry contacts, old and new. However, if you were not able to fully immerse yourself in all the events, then I would just draw your attention particularly to the Home Buying & Selling Group’s Upfront Information Roadshow at which our Director of Delivery, Beth Rudolf, presented on one of the CA’s key workstreams.

 

The link above takes you to the full video of the session, and – if you haven’t already – I would advise all CA members to watch it and to see how the provision of Upfront Information is progressing, what difference it could make to the home buying and selling process, and what is coming down the tracks that all practitioners and property market stakeholders need to be aware of.

 

It is looking like a significant game changer for the market, and perhaps most importantly, the consumer who should hopefully have greater certainty, transparency and fuller information about the property they are interested in, rather than only finding this out when they are already financially and emotionally committed.

 

And there is widespread cross-sector support for it, as you will identify from the Roadshow which included contributions from a large number of those who see the full benefits and what it could mean for their specific part of the market – advisers, agents, lenders, etc. From my perspective, it is must-watch.

 

And if you would like to see what else happened at National Conveyancing Week, then please head over to the website here, where you’ll find a lot more information.

 

Talking of events in the future, I also want to draw your attention to forthcoming CA member meetings which are taking place throughout the rest of the year, and which we’d love to see you at.

 

The first takes place in London on the 15^th May and once again Howden are kindly hosting us at their offices. We then have further meetings in September and December, and our Annual Conference will take place in February next year.

 

These are a series of meeting for member firms, Affiliate members and other stakeholders within the industry, and we’ll shortly be announcing the agenda for the next meeting. As always, there will be the opportunity to network amongst many of your fellow professionals, colleagues and peer group, which I know many of our members find absolutely invaluable.

 

If you feel there is benefit to be had by others in that regard, please put them in contact with our Secretariat who can outline the different types of membership we offer, and what you get for that membership.

 

Anyway, it has been an incredibly important month for conveyancing and we at the CA plan to build on this with our next series of meetings. We hope to see you all there.

 

Nicky Heathcote is Non-Executive Chair at the Conveyancing Association (CA) 

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from The Conveyancing Association https://www.conveyancingassociation.org.uk/the-ides-of-march-were-all-about-conveyancing/