Calls between clients and conveyancers jump 20% in June: Moneypenny

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The business communications firm says that sales progression calls were up by a fifth in June compared to the previous month, “as clients panicked about missing the extended deadline and risked being overlooked for the tax break worth thousands of pounds”.

It adds in the final seven days running up to the deadline of 30 June, the overall call volume lifted by 5% compared to the previous week.

On 1 July, the stamp duty nil-rate threshold was reduced from £500,000 to £250,000 until the end of September.

From 1 October, the threshold will return to £125,000 – or £300,000 for first-time buyers purchasing a property worth up to £500,000.

Before the pandemic, the report estimates there were a minimum of six inbound calls per week, per case from stakeholders including estate agent, client, vendor’s solicitor and mortgage broker.

It says: “The increase in requests for updates on transactions has affected productivity and customer experience, as many firms failed to get a handle on changing demand.

Customer expectations were further complicated by estate agents forecasting optimistic exchange and completion times, as well as lenders, search companies and surveyors all experiencing operational difficulties.”

Moneypenny head of legal sector Bernadette Bennett says: “The stamp duty holiday deadline combined with an industry-wide shift in working style has created pressure on an already groaning system, with consumers relying upon conveyancers operating remotely, many without effective communication technology.

With the prospect of hefty savings on offer, clients were understandably desperate to reach their conveyancers and push transactions along the chain.

As a result, a law firm’s ability to respond requests became more important than ever.

Quality of call handling, speed of response and efficacy of message taking have all been placed under scrutiny.”

CY Training Works conveyancing founder and consultant Clare Yates adds: “A conveyancer has an average caseload of 100 matters, which mounts up to 600 inbound calls per week.

For some law firms with caseloads of 150 or more, the volume could reach over 1,000 and that’s on top of inbound emails requesting the same information.

Many have already increased their fees, reduced their caseloads and are looking at the best ways to communicate with all stakeholders.”