The number of allegations made against conveyancing solicitors which have proceeded to lead to risk assessments by the Professional Regulator has fallen, with a large drop in the number relating to mortgages and property according to recent figures.

Obviously, if the trend towards a fall in property related allegations continues then this would in theory indicate that the worst of the regulatory problems caused by the credit crunch may be over. Because of this it has been noted that the Solicitors Regulation Authority figures show that the compliance risk assessments fell by 15% in the three months to 30 June 2010 and in relation to lenders this fell by 43%.

The above is of course potentially good news for conveyancers as this could possibly work in favour for the conveyancers out there in relation to obtaining professional indemnity insurance for the firm in the future.

The SRA Figures have also dropped by 27% in the 12 months leading upto 30^th June 2010 in respect of interventions relating to suspected dishonesty in comparison to the 35% recorded for the previous year.

- Nicola