Professional Indemnity Insurance Hike Closes Conveyancing Firms

Conveyancing is a high risk area of law. This is reflected by our Professional Indemnity Insurance (PII) premiums.

The consistent rise in operating costs means the profession must charge higher fees. So there have been nation-wide fee increases.

Year on year the regulatory requirements expand to assist the government in combatting ID theft, property and mortgage fraud.

Conveyancers spend their days navigating the maze of anti-money laundering and source of funds legislation. Due-diligence and compliance the millstone around our necks.

We cannot do all of this for the same fees charged decades ago.

https://www.lawgazette.co.uk/news/firm-shuts-citing-unmanageable-rises-in-pii-costs/5112992.article