In an era wherein so many claim data is king, the conveyancing sector finds itself at a crucial crossroads.
As part of our ongoing "Property Matters" series, we invite you to tune into our latest podcast, "Does Data Overrule Sense?: The Fight for Human-Centric Conveyancing," featuring Silas J Lees, a renowned processing innovator, and Hamish McLay, a seasoned conveyancing collaborator. The discussion will be expertly chaired by our regular host, Gareth Wax, producer and director. Join us tomorrow at 1:00 PM.
This episode looks at some of the complexities of the property industry, challenging the increasing reliance on data and questioning its impact on the conveyancing process.
Government bodies and advocacy groups are pushing for greater use of data alongside stricter regulation, citing efficiency and transparency as the key benefits. However, this surge in data usage brings other challenges.
The massive backlogs plaguing areas such as cladding remediation, illustrates how increased data can sometimes hinder rather than help. Shortages of experienced conveyancers and planners is exacerbates delays, leading to a bottleneck in processing planning requests and conducting thorough conveyancing.
With the inadequate supervision over building quality and councils not fully exercising their powers to enforce standards, the property sector is feeling the strain.
Moreover, the rise of high-volume conveyancing processors - often termed as conveyancing "factories" - raises questions about the efficiency of generating excessive queries that slow down the transaction process.
The extended process is further complicated by lenders who frequently change financing rules, and the challenges posed by inappropriate applications of Stamp Duty Land Tax (SDLT).
Our intent with the discussion is not to just highlight problems. We need to emphasise the indispensable role of human judgment and expertise in conveyancing. Getting through these turbulent waters, the question remains: Should the focus be on increasing data-driven practices, or is there a need to reassess and prioritise human touch in our legal frameworks?
Join us for the episode of "Property Matters" and even contribute to a conversation about ways of influencing the future of conveyancing. Whether you are a professional within the property sector, a potential homebuyer, or simply interested in the evolving landscape of property regulations, your insights would be appreciated.