21st June is a key talking point recently, but what about 30th June?

Posted in Latest News on 3 Jun 2021

Whilst a large proportion of the country, and the media are transfixed on 21st June and the next phase in the roadmap out of lockdown, many legal professionals, particularly those in conveyancing are focused on 30th June.

Whilst the SDLT break has given a much-needed stimulus to the market, and the increased activity has given legal firms a degree of confidence to bounce back and trade strongly through the pandemic and lockdown, what does this mean for the future?

From a cost perspective, we’ve seen some firms increase the charge for a transaction. This increase has been justified in some cases by the pressure put on conveyancers by those wanting to take advantage of the break in stamp duty costs. Undoubtedly, we’ve seen fee earners working elongated hours, and battling against much increased workloads. It has also been suggested that the average cost has been positioned too low for some time. If the volume of work does return to a more stable and manageable level from July, there are sure to be decisions to be made on cost, and indeed the long-term view of an acceptable workload. Obviously, this responsibility doesn’t lie solely with legal firms, but also puts a spotlight on the government to look at potential reforms to SDLT charges to stabilise the market.

Another key consideration that surely must be addressed is the strain on the mental health of those that have been on the coal face of this surge in activity. Needing to react so quickly to such an increase in workload could understandably lead to burn out. As we all appreciate, those wanting to complete quickly in order to save money aren’t always the most patient or tolerant.

Obviously, there has in some cases been a risk of the quality of service delivered to clients suffering. Whilst this is often unavoidable, the impact of criticism of service may add to the stress and toil already growing due to the increased workload. In a stable market, the focus on quality of service becomes of paramount importance and cost then becomes a factor.

Over the course of the last 18 months, several important questions have been raised, how the best firms move forward, being aware of how employee care is of great importance, how client satisfaction is key and how market conditions affect profitability.

As the 30th June approaches, we’re working continually with legal firms, and legal candidates looking to explore opportunities, not only in conveyancing but across the market. We’re in a strong position to share information on how some employers have already started adjusting working practices. 

Get in touch today, click here.

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