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Law Society threatens legal action on conveyancing

Rebel non-lawyer conveyancer Lester Dempster says the New Zealand Law Society's threat to take him to the Privy Council is "bully boy stuff."

Thursday, May 3rd 2001, 10:39PM

Rebel non-lawyer conveyancer Lester Dempster says the New Zealand Law Society's threat to take him to the Privy Council is "bully boy stuff."

The Law Society may seek to overturn last month's Court of Appeal decision which effectively stripped lawyers of their conveyancing monopoly.

That's even though Justice Minister Phil Goff is planning to introduce legislation later this year which will strip lawyers of their conveyancing monopoly in any case. It will also strip real estate agents of their monopoly on selling property.

Law Society president Christine Grice says no decision has been made and the society has sought leave to appeal to the Privy Council in order to preserve its position until it can debate the issue. She agreed a Privy Council appeal would be pricey.

In that debate, which will happen at the society's next board meeting on 15 May, "the timing and the costs will all be taken into account,'' Grice says.

Privy Council appellants normally budget about $100,000 in legal costs.

The Law Society's concern about the development of a largely unregulated system of conveyancing remains, she says.

Dempster, a former assistant land registrar for the government, has been fighting for 13 years for the right to practice conveyancing in New Zealand.

He finally got his landbroker's licence in December 1999 after gaining landbroker registration in Australia and then using the occupational equivalency provisions of the Trans-Tasman Mutual Recognition Act.

Grice calls this a "back door method'' and denies accusations that the Law Society is simply trying to preserve its monopoly.

It isn't opposing Goff's legislation. "The legislation is to provide for a new occupation of licensed conveyors. They will be regulated and subject to a training regime. They will have to be appropriately qualified,'' she says.

"Land brokers are quite a different occupation," she says, adding that Goff plans to repeal the landbroking provisions of the Land Transfer Act at the same time as the new legislation is introduced.

Dempster now heads Auckland-based L.J. Hooker Conveyancing which is backed by Perth-based LJ Hooker Settlements. In Western Australia about 90% of property transactions are handled by non-lawyer conveyancers.

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.45 7.05 6.85
ANZ 8.64 7.99 7.49 7.35
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.39 6.89 6.75
ASB Bank 8.64 7.39 6.89 6.65
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - ▼7.29 ▼6.85 ▼6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.95 7.65 7.45
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 7.15 - -
Co-operative Bank - Owner Occ 8.40 7.35 6.89 6.75
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.85 7.39 7.25
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.69 6.45 6.19
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.85 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.59 7.29
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.35 7.89 7.65
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.35 6.89 6.75
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.90 7.39 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.30 7.89 7.69
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.30 8.89 8.69
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.95 7.45 7.29
SBS Bank Special - 7.45 6.95 6.79
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 7.05 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 8.19 7.55 7.55
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 7.39 6.75 6.75
Unity 8.64 6.99 6.85 -
Unity First Home Buyer special - - 6.45 -
Wairarapa Building Society 8.60 7.15 6.85 -
Westpac 8.64 7.89 7.49 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.89 6.65
Median 8.64 7.45 7.37 6.77

Last updated: 23 February 2024 11:59am

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