Friday, October 31, 2008

No more free lunch

Property crash puts future of law firms in doubt

The future of many Northern Ireland law firms could be in doubt after a dramatic slump in conveyancing work. One firm has already been declared bankrupt and staff at others have been laid off or taken pay cuts. The Law Society, the regulatory body for solicitors, revealed that conveyancing work had dropped by two thirds in just six months following the collapse of the residential property market.

Posted by housebear @ 09:33 AM (325 views)
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5 thoughts on “No more free lunch

  • Out of work lawyers. Oh the humanity.

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  • Piledhigheranddeeper says:

    No sympathy- NI solicitors were price fixers (ie instructed to sell for a fixed % of price by their Society). At height of boom NI sellers were charged double GB solicitor equivalent for same work.

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  • Completely agree, not much sympathy here, ever since the final bill for my divorce came through where I was charged £16 pounds for 1 line emails sent from my solicitor to me.

    Solicitors aside, I still have memories of Northern Ireland from when all the troubles were abound, how did they get from completeley undesireable to £260k for a 1 bedroom flat, this is one big bubble that defies all logic.

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  • solicitors are loosing their jobs in the UK as well. It shows no trade is immune.

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  • last_days_of_disco says:

    I suppose there are a few moments of joy in an otherwise depressing situation.

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