Some two-thirds of the country’s 800 notary firms have written to their professional body urging it to take steps to improve the situation facing notaries (lawyers who deal exclusively with family law, housing transactions and company incorporation).
In particular, the signatories to the letter say the association should be campaigning for minimum fees for property transactions.
The end of fixed fees in 1999 and the ensuing price war, coupled with the recession, have put many notary firms in financial difficulty, the signatories to the letter say.
This year, the average turnover per notary firm has fallen by 25%, while profits have been cut by 70%, they claim.
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