LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LondonWallet
No Result
View All Result

CLC seeks views on proposed hike in fees – London Wallet

Mark Helprin by Mark Helprin
July 21, 2025
in Real Estate
CLC seeks views on proposed hike in fees – London Wallet
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

The elephants in the room that could trample the Housing Minister’s ambition – London Wallet

What is currently happening in the UK property market? – London Wallet

The goldfish myth: Why we don’t have shorter attention spans, just higher standards – London Wallet

The Council for Licensed Conveyancers (CLC) has launched a consultation on proposed changes to its fee structure for the upcoming licensing year, which begins on 1 November 2025.

Under the proposals, practice fees and licensing administration charges would rise by 3% to reflect inflation, while individual licence fees would remain frozen for a tenth consecutive year.

CLC says annual reviews of fees ensure that enough revenue is raised to cover its forecasted expenditure. Thanks to its proactive compliance strategy – which focuses on collaboration with firms to uphold high standards and protect clients – the regulator has managed to significantly reduce the average practice fee rate over time, from 1.25% of turnover in 2015–16 to just 0.58% under the latest proposals.

A 6% increase in contributions to the Compensation Fund is also being considered. The Fund safeguards consumers who suffer losses through no fault of their own. The rise, we are told, is intended to keep pace with inflation and reflect increased demands, particularly from firms that have not engaged constructively with the CLC’s compliance processes.

Practice fees and Compensation Fund contributions are calculated on a sliding scale based on turnover. Although these bands are reviewed annually, no changes are proposed this year.

The CLC reports continued robust growth across its regulated community. In 2021, 78 practices had turnovers under £500,000; today, that number has fallen to 38. Average turnover per practice has grown from £1.2m in 2021 to £2m in 2025.

This growth reflects the strong appeal of CLC regulation, particularly among conveyancing and probate practices. The average CLC-regulated practice now significantly outperforms its counterparts regulated by the Solicitors Regulation Authority (SRA) in terms of turnover — a testament to the benefits of CLC’s specialist approach.

Sheila Kumar, chief executive of the CLC, said: “The CLC has worked hard over several years to absorb rising costs and reduce the financial burden on practices, while maintaining high standards of consumer protection.

“We believe the fee proposals set out in this consultation are fair and proportionate and in line with our commitment to supporting a thriving conveyancing and probate industry which is responsive to the needs of its clients.”

The consultation will run until 8 August, following which the CLC will consider all responses before submitting its financial plan to the Legal Services Board for approval. 

To read the full consultation document click here.

 





Source link

Share30Tweet19
Previous Post

Deadline set for unsafe cladding removal – London Wallet

Next Post

Property industry reacts to new Rightmove House Price Index – London Wallet

Mark Helprin

Mark Helprin

Recommended For You

The elephants in the room that could trample the Housing Minister’s ambition – London Wallet
Real Estate

The elephants in the room that could trample the Housing Minister’s ambition – London Wallet

October 10, 2025
What is currently happening in the UK property market? – London Wallet
Real Estate

What is currently happening in the UK property market? – London Wallet

October 10, 2025
The goldfish myth: Why we don’t have shorter attention spans, just higher standards – London Wallet
Real Estate

The goldfish myth: Why we don’t have shorter attention spans, just higher standards – London Wallet

October 10, 2025
Tories pledge reform of Welsh version of stamp duty – London Wallet
Real Estate

Tories pledge reform of Welsh version of stamp duty – London Wallet

October 10, 2025
Next Post
Property industry reacts to new Rightmove House Price Index – London Wallet

Property industry reacts to new Rightmove House Price Index - London Wallet

Related News

Farage urges Starmer to declare a ‘national security emergency’ – London Business News | London Wallet

Farage urges Starmer to declare a ‘national security emergency’ – London Business News | London Wallet

May 14, 2025
Labour denies promising peerages to get MPs to stand down

Labour denies promising peerages to get MPs to stand down

June 2, 2024
Pandemic saw ‘postcode lottery’ of maternal care services in London

Pandemic saw ‘postcode lottery’ of maternal care services in London

April 14, 2023

Browse by Category

  • Business Finance
  • Crypto
  • Industries
  • Investing
  • Markets
  • Opinion
  • Real Estate
  • UK

London Wallet

Read latest news about finance, business and investing

  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2025 London Wallet - All Rights Reserved!

No Result
View All Result
  • Checkout
  • Contact
  • Home
  • Login/Register
  • My account
  • Privacy Policy
  • Terms and Conditions

© 2025 London Wallet - All Rights Reserved!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?