How long should my firm retain archived conveyancing files?

My firm is moving to smaller premises and we need to reduce the number of files stored. Is there any guidance setting out how long we need to retain archived conveyancing files in storage?

There is no specific Law Society guidance on how long a conveyancing file should be retained in storage.

You will need to decide how long you wish to store closed files taking into account relevant statutory provisions such as:

• limitation periods
• VAT provisions
• the Money Laundering Regulations 2017
• any lender requirements

Section 14 of the UK Finance Mortgage Lenders' Handbook states:

"Your Mortgage File

S14.3.1 For evidential purposes you must keep your file for at least six years from the date of the mortgage before destroying it. You should retain on file those documents as specified in these instructions, and/or our individual instructions, and any other documents which a reasonably competent solicitor/conveyancer would keep.

Microfiching, data imaging or material held electronically constitutes suitable compliance with this requirement. It is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is important to retain these documents to protect our interests."

In your client care letter, you should advise the client how long you will retain the file and outline what will happen to the file after that time.

You should also advise the client of any costs relating to:

• storage
• retrieval
• additional copies of papers requested by the client

If you intend to store documents in an electronic format, you should first consider whether the absence of paper documents might be detrimental to the client's interests before you agree such storage methods with your client.

You should also consider any file retention requirements of your professional indemnity insurers when assessing the appropriate length of time to retain files.

For more information, see our practice note on client information requirements.