A conveyancing body says it wants the government to allocate “a small fund” in next week’s Budget to promote research into how house buying can be reformed.
The Council for Licensed Conveyancers demands the government addresses “one of the most archaic legal transactions - the house buying process.”
The organisation does not specify how much public money it wants to see put aside, but a statement from its director of strategy, Stephen Ward, calls for three outcomes from Wednesday’s Budget.
“[Firstly} The allocation of a small fund to drive R&D for wholly new approaches that the private sector can then deliver and export in finding solutions for improving the availability and comparability of information on price and service for consumers;
“[Secondly] Incentives for conveyancing providers to invest in new IT to provide better, more secure transactions;
“[Thirdly} Help for the industry in preparing for the outcome of Department of Communities and Local Government work ....... Ward adds that: “The conveyancing market has never been in more need of attention and next Wednesday’s autumn Budget presents Philip Hammond with a real opportunity to let the genie out of the lamp and demonstrate a real commitment to innovation in the property transfer process.”