The conveyancing train has come to the end of the road. All the ideas of the Mears/Sayer camp have failed and there will doubtless be many in the profession gloating "I told you so".
But as The Lawyer has consistently pointed out, the arguments were fundamentally flawed from the beginning. Times have changed, as has the housing market, and the consumer is a more sophisticated purchaser of services like conveyancing. Robert Sayer has come up with a suggestion whereby conveyancers would be charged indemnity contributions on a "per transaction" basis.
However, this does not tackle the core problem – the changing face of conveyancing. Surely the Law Society should use its powers to work with mortgage lenders and thrash out a long-term strategy on the future of conveyancing work instead of piecemeal reactions.