BUDGET: Castles, genie lamps and conveyancing

Ahead of next Wednesday’s hotly anticipated budget, Stephen Ward, director of strategy for the Council for Licensed Conveyancers (CLC), is keen to see the Chancellor address one of the most archaic legal transactions –  the home buying process.

“An Englishman’s home may be his castle, but purchasing that castle, family home or two bed flat is an archaic process that needs to be updated. The conveyancing market has never been in more need of attention and next Wednesday’s autumn budget presents Philip Hammond with a real opportunity to let the genie out of the lamp and demonstrate a real commitment to innovation in the property transfer process.

We have three wishes for next week, namely:
  • The allocation of a small fund to drive R&D for wholly new approaches that the private sector can then deliver and export in finding solutions for improving the availability and comparability of information on price and service for consumers
  • Incentives for conveyancing providers to invest in new IT to provide better, more secure transactions
  • Help for the industry in preparing for outcome of DCLG work on improving the conveyancing process that will deliver solutions we can export.”

Kindly shared by Council for Licensed Conveyancers