Senior Associate, Charlie Davidson – known to his 9k LinkedIn followers as the Hound of Holborn, raises a strong cup of tea to conveyancers up and down the land… the “true heroes of property law.”
In years gone by, the classic conveyancer, no doubt in an office creaking with the weight of dusty deeds, would inspect a property’s title, dictate a report and transfer, and call it a day. But that was then. Today’s conveyancer? Picture a caffeine infused legal octopus, arms flailing, stretching in every direction to manage the unending demands of modern property law.
Once upon a time, conveyancers were the ones quietly reviewing deeds. Now, they’re expected to have the climate expertise of an environmental scientist, the tax foresight of a seasoned accountant, and the AML diligence of a border agent—all while attempting to decipher a lender’s requirement (no doubt devised by an overly timorous accountant armed with an excel spreadsheet from 1994).
Here’s a (quick) look at what the modern conveyancer faces in the modern day trenches of real estate.
Climate Risks: Yes, You’re Buying a House, But Have You Considered the Apocalypse?
Our dear conveyancers are now called upon to think way beyond “legal title”. Should the buyer be fretting over flood risks? Soil erosion? A little Japanese knotweed infestation? Global warming? It is not simply about bricks and mortar anymore; it’s about whether the property might one day float away or crumble into dust. And thanks to guidelines from regulatory bodies, conveyancers now have a duty to give a heads-up on any environmental issues that could alter the property’s value or usability. No more turning a blind eye to that lush yet highly suspicious shrubbery by the back gate. And didn’t that river used to be further away?
Tax Trouble: The Ever-Rising SDLT (Stamp Duty Land Trouble)
It used to be straightforward. Stamp Duty? Just a tax. Today? It’s a labyrinthine Stamp Duty Land Tax system with surcharges, reliefs, exemptions, and penalties for the unprepared. The latest hit is a 5% surcharge for second-home buyers, which means a “dream holiday cottage” now comes with a hefty bill. And who explains this potential financial shock? That’s right, the conveyancer. They’re forced to do tax advising (minus the fancy tax adviser’s fees), lest their client finds themselves owing HMRC a small fortune and wondering where it all went wrong.
Anti-Money Laundering: “Know Your Client” or Else
Conveyancers are now tasked with ferreting out criminal activity like seasoned detectives. AML checks are serious business, and thanks to the UK’s stringent regulations, conveyancers have to ensure their clients’ money isn’t, shall we say, “dodgy”. The stakes are high—fines, reputation damage, possibly even disqualification for our conveyancer if anything dodgy slips through their net. While conveyancers are up to their elbows in ID checks, proof of funds, and source of deposit investigations, the focus isn’t just on getting clients their new home; it’s on keeping the UK’s property market clean and above board.
Family-Gifted Deposits and Joint Ownership: Love, Shared Bank Accounts, and Legal Headaches
For many, the “Bank of Mum and Dad” is the only financier generous enough to float a deposit. But this kind-hearted gift triggers its own avalanche of paperwork. Conveyancers must verify and document these family gifts – to satisfy AML regulations, proving that each £10,000 from Granny’s savings isn’t from a meth lab, but also to satisfy the ever-paranoid high street lender. And when lovebirds buy property together, conveyancers are tasked with explaining the delightful esoteric distinctions between joint tenancy and tenancy in common, so that clients aren’t left asking, “What do you mean, I only own half my own kitchen?”
Leasehold Nightmares: Service Fees, Ground Rents, and the Eternal Leasehold Ladder
The great British leasehold has, of late, come under fire as buyers were faced with escalating ground rents and sneaky fees that make a purchase feel less like home ownership and more like property renting with a lifetime commitment. Conveyancers are on the front lines, decoding these lease agreements for the uninitiated and alerting them to the pitfalls of service charges that rise mysteriously, year after year. In a world where the fine print could haunt you for decades, conveyancers are becoming the only ones who can decipher the true costs of leasehold “ownership.”
A Future Full of Complications
The modern conveyancer is no longer just a facilitator. They’re a translator, a tax advisor, an environmental consultant, a counsellor, a financial detective, and more. The demands are only growing, and with every new regulation, conveyancers find themselves under increasing pressure to be the Swiss Army knives of the legal world—without a corresponding increase in fees.
But one thing’s for sure: conveyancers are rising to the challenge. They’re guiding clients through a wild landscape that’s growing more treacherous by the day, all while staying one step ahead of evolving risks and regulations.
So, here’s to our humble conveyancers—the true heroes of property law who hold it all together with a smile (or perhaps a mildly exasperated eye roll) and a cup of very strong tea.
Contact our Residential Property Team
For more information about Bishop & Sewell’s residential property services please contact Charlie Davidson in the firm’s Residential Property team: cdavidson@bishopandsewell.co.uk or follow Charlie on LinkedIn @HoundofHolborn
The above is accurate as at 15 November 2024. The information above may be subject to change.
The content of this note should not be considered legal advice and each matter should be considered on a case-by-case basis.
