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Suzanne Townley

News Editor, Solicitors Journal

CLC warning

60 Seconds
CLC warning


The news in 60 seconds

The Council for Licensed Conveyancers (CLC) has recommended firms should stress test their businesses for resilience against a significant fall in work volumes. According to the CLC, the 2007-08 recession saw a more than 40 per cent drop in conveyancing transactions year on year. Turnover of CLC-regulated firms fell by 27 per cent before largely recovering the following year. The total turnover of CLC-regulated firms in 2009/10 was £85m; by 2020 it was £277m. The year to April 2021 saw a further 26 per cent growth in turnover to £349m.