Legal

Competition needed in conveyancing sector to ease process of buying a home, says watchdog

New report suggests that a series of reforms are needed to make the creation of a conveyancing profession viable

Thursday’s research comes following a selection of reports into the consumer experience of conveyancing services, with one survey finding that delays in the process resulted in mortgage loan offers frequently being withdrawn. Picture: Getty

A new conveyancing profession must be introduced as soon as possible to end the “solicitor monopoly” on the service, the consumer watchdog has said.

The Competition and Consumer Protection Commission (CCPC) said competition in conveyancing would drive a quicker, cheaper service and make it easier to buy houses or switch mortgages.

“Without action by government now, Irish consumers may be waiting decades before they see the end of this monopoly on conveyancing,” Brian McHugh, chairman ...