Stamp Duty Holiday ends – what does this mean for conveyancing specialists

Lauren Watson

It’s safe to say that conveyancing teams have been buried under a mountain of work for the last year.

Getting to the end of June may have felt like Frodo and Sam’s journey to Mordor (or at least like watching the Director’s Cut of the full Lord of the Rings film marathon with no breaks).

 

Managing late night and weekend phone calls and emails with demanding clients has been hugely stressful, and we’re confident that there’s more than a few conveyancing specialists who will be celebrating with a glass or two of bubbly and a few days off!

Legl’s software enables firms to track how many new clients are opening files for conveyancing matters in our Insights dashboards

We’ve spoken to conveyancing teams across the UK who have been working an unprecedented number of files throughout the pandemic as property buyers rush to make use of the Government’s temporarily reduced rates. 

 

Legl’s software enables firms to track how many new clients are opening files for conveyancing matters in our Insights dashboards, so we’ve seen first hand the massive increase (an increase in excess of 300% for some of our law firm clients!) in conveyancing work that teams have managed over the last 12 months. 

 

The speed of file opening times has been a massive area of focus for our customers – removing admin and unnecessary delays has helped to alleviate stress for conveyancing and compliance teams alike. With Legl’s solution, top 20 conveyancing firms like Glover Priest have onboarded 75-85% of clients in less than 24 hours. Imagine if Frodo and Sam had been able to skip ahead through their challenging journey via Rohan and Gondor etc and got straight to Mordor? It probably wouldn’t have made for such an epic story… but we’re hoping for no epic sagas when it comes to managing legal work – we’re optimising for simplicity and speed instead! 

93% of consumers in the UK believed that it was important that their lawyer used technology to deliver high quality services easily and affordably

With the restrictions due to the covid-19 pandemic making face-to-face interactions near impossible, client demand for fully digitised legal services has soared. Pre-covid our Customer Trends in Legal Services report showed that a whopping 93% of consumers in the UK believed that it was important that their lawyer used technology to deliver high quality services easily and affordably. We wouldn’t be surprised if these numbers now looked closer to 100% (we’ll be releasing an updated Consumer Trends in Legal Services Report later this year so watch this space…)

 

So what’s the upshot of our learnings from the last 12 months?

 That’s why we’ve revamped our Insights dashboards to help law firms to leverage data insights.

But what happens next? Finally conveyancing teams have a chance to take stock and reassess processes and technology that can help to remove admin and manual work. From onboarding new clients to taking digital payments, there are quick wins that can help conveyancing teams to win a competitive advantage. At Legl we’ve seen first-hand that conveyancing departments have often been the driving force behind tech changes at firms, and we’re keen to help to further improve the digital processes at your firm. 

We’d love to hear from you, please don’t hesitate to get in touch [email protected] or if you’d like to see Legl’s solution in action, you can book in a quick product tour here:

About the author

Lauren Watson is Head of Legal Partnerships at Legl, the end-to-end client onboarding and firm-wide insight solution helping law firms succeed in a digital-first world.

She works with law firms across the UK from high-street practices to top 100 multinational law firms and is an expert on LegalTech for client due diligence, remote onboarding and online payments.

Lauren is passionate about how technology can improve access to legal services and help law firms to operate effectively and compliantly.

Get in touch with Lauren

More great articles

Digital-payments-legl

Digital Wallets have come to legal

We live in a time where convenience and flexibility are the driving forces behind most consumer choices. Which is why…

Read Story
Legal Futures Innovation Conference Legl

Five takeaways from the Legal Futures Innovation Conference

This year’s Legal Futures Innovation Conference brought together hundreds of lawyers, technologists and industry experts innovating legal services. In case…

Read Story
SRA STaRs Legl blog

What’s all the fuss about the SRA’s new rules?

On 25 November 2019 the SRA’s published its new Standards & Regulations (STARs) and it has got people talking. Not…

Read Story
Arrow-up