To round out 2025, the Government have been running a consultation on potential changes to conveyancing that could take effect in the new year.
While the outcome of the consultation is yet to be determined, the expectation is that conveyancing will soon be more efficient.
This signals a change in expectations and small law firms should be adapting their processes accordingly.
What is likely to change with conveyancing?
The main focus of the proposed changes to the conveyancing centre around making the process less time-consuming and more reliable.
England and Wales are lagging behind the Scottish approach to conveyancing, where only around nine per cent of transactions fall through.
This is due to binding agreements taking effect much earlier north of the border and it is expected that England and Wales may soon follow suit.
Alongside these changes, there is anticipation that new technology will be used to streamline the process.
Property logbooks and packs may become digitised in an effort to make data more secure and accessible for anyone who needs to engage with it.
This is potentially going to be paired with AI-powered anti-money laundering measures that should enable the same degree of scrutiny to be applied to systems without compromising on security.
Why is conveyancing changing?
The changes are reflective of a growing trend within society where inefficiency is being viewed through a more critical lens.
Rather than allowing old practices to continue due to them being familiar and routine, there is a greater push towards using technology to make things more efficient.
It is predicted that the changes to conveyancing will help the economy in England and Wales, as the housing market is more dynamic in Scotland due to more effective conveyancing practices.
As law firms are often unfairly blamed for the difficulties surrounding conveyancing and the delays that often occur, these changes could go some way to helping improve client relationships with solicitors.
What might the changes to conveyancing mean for small law firms?
As conveyancing gets more efficient, there will be an increased expectation for small law firms to do the same.
It is likely that work will be more rewarding for small law firms that may have previously lost revenue due to problems with conveyancing.
The standardisation of information and the shift towards more streamlined operations should be an inspiration for other legal matters and encourage better practices across the firm.
Smokeball can help small law firms prepare for conveyancing changes and any additional pressures that arise in the future.
As clients are set to receive a better conveyancing experience, your firm can extend that ethos throughout your practice.
Smokeball will help you root out the inefficiencies in your own workflows, ensuring that more of your work has value and that you have better control over your billable hours.
To help your small law firm keep pace with conveyancing changes, book a demo today!
