Property

An experienced solicitor who failed to react to a series of red flags on two dubious property sales has admitted to being manifestly incompetent. He and his supervisor were fined.

AI chatbot ChatGPT has a “long way to go” before it replaces conveyancers, according to the head of property at a regional law firm who quizzed it about first-time buyers.

The boss of a Manchester law firm has been fined £12,500 for failing to supervise his trainee properly in conveyancing transactions that “bore the hallmarks of property hijacks”.

A solicitor who facilitated a “secret, snap sale of inheritance property” after which the seller absconded to Morocco with proceeds to which he was not entitled has been fined for missing multiple warning signs.

Average conveyancing fees for house purchases have increased by less than inflation over the past year, with fees for leasehold transactions rising much more quickly, according to new research.

The deputy chief land registrar has called on conveyancing firms to ensure they are not making “avoidable errors” on registration applications.

Small firms in the north-east of England are most likely to do better in the residential conveyancing market than other regions as the dominance of the large firms re-established itself.

It is “difficult to see” unbundled conveyancing services working, even if there is consumer demand for them, the chief executive of the Council for Licensed Conveyancers has said.

The bosses of two of the UK’s largest conveyancing firms, both backed by private equity, said yesterday that growth by acquisition was not high on their agendas.

Some 67 law firms have so far pledged their support for the first ever National Conveyancing Week in March, an initiative which aims to boost the profile and understanding of conveyancing.