Risk Management – the cult of the trusted partner – 2nd June 2010
Over the last ten years I was lucky to work with a panel manager that enabled me to go into many conveyancing firms from the largest to the smallest and look at the way that they operated and how they managed their risk. In the first of an occasional series on risk management I focus […]
April Land Registry figures show which firms made the most applications – 31st May 2010
Data obtained by Today’s Conveyancer shows that 226,000 applications were made to Land Registry in April by account holders. This figure included commercial work, social housing and applications such as name changes by lenders. Some of the biggest applicants were banks and commercial businesses with Trowers and Hamlins heading the list. Click here to see […]
Expected CGT rises and HIP Suspension bring more properties to market – 30th May 2010
The weekend press has been full of comment about the impact of the suspension of Home Information Packs and also the expected announcement of an increase in the rate of Capital Gains Tax from 18% to 40% in the emergency budget on the 22nd June 2010. Estate Agent Today has already reported that some agents […]
Purchase Mortgage Approvals Slightly Up, Remortgages Down – 26th May 2010
The British Bankers Association has reported that in April mortgage approvals for purchases have risen from just over 35,000 transactions in March to 35,729 mortgages per month, less than one additional transaction for every conveyancing firm in England and Wales. The figures are adjusted for seasonality. Clearly at a time when consumers were anticipating an […]
Legal Services Consumer Panel calls for Referral Fees to be Revealed and Regulated – 26th May 2010
The Legal Services Consumer Panel has produced a report this morning calling for key changes to referral payment rules. Focusing on conveyancing and personal injury the report has found that nearly a quarter of consumers are referred to their lawyer but only 20% of solicitor firms in England and Wales having referral arrangements in place. […]
Land Registry cancels marketing tender – 24th May 2010
PR Week has reported that Land Registry has cancelled a marketing tender and contract that it had planned to create a single marketing strategy for its whole business operation. Today’s Conveyancer has spoken to a spokesperson at Land Registry and understands that this cancelled tender is part of the review of operations in light of […]
Land Data calls for end to Personal Searches – 24th May 2010
Land Data issued a press release last Thursday supporting the swift decision by the coalition to suspend Home Information Packs but went on to ask for "official authoritative searches to be made compulsory in all covneyancing transactions." Jan Boothroyd, Land Data Chief Executive, said that "Home Information Packs almost immediately became synonymous with price and […]
Report Highlights Internet Trading Success – 24th May 2010
Greenlight the award winning full service search marketing agency has conducted a report into the most successful internet legal services businesses. By using industry data to classify 1000 of the most popular search terms that consumers use to find legal services an indication of audience size and profile of how Google users went about their […]
HIPs are history – 20th May 2010
Communities Secretary Eric Pickles and Housing Minister Grant Shapps today announced that with immediate effect, they are suspending the requirement for homeowners to provide a Home Information Pack (HIP). Pending primary legislation which would be required for a permanent abolition, Mr Pickles today laid an Order suspending HIPs with immediate effect. This action follows […]
The Home Information Pack (Suspension Order) 2010 and related EPC Regulation – 20th May 2010
A link to the full order The Home Information Pack (Suspension) Order 2010 No. 1455 And The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) (Amendment) Regulations 2010 No.1456
Ashley King – Failure to Consult on Suspension of HIPS a disgrace – 20th May 2010
Ashley King Managing Director of Simply HIPS and a key industry figure in the development of the exchange ready HIPs has expressed his "utter disappointment" at what he considers to be the disgraceful way in which the Conservatives have suspended HIPS. Ashley King stated that Grant Shapps as Shadow Housing Minister had promised not to […]
Rightmove Sample Indicates a Rise in Unsold Houses – 17th May 2010
Rightmove House Price Index for May has measured a substantial jump in unsold stock per estate agency branch increasing from 68 to 71 between March and April a three month trend of increasing stock. Given the election and promise in the Con Lib pack to abolish HIPs the future of housing stock and prices […]
House Purchase Numbers Substantially Increase in March says CML – 17th May 2010
The CML monthly report for mortgages indicate 45,000 purchase loans in March with 28,000 remortgages. This is a significant month on month increase and year on year increase for house puchases. The home purchase mortgage figures indicated a 25% growth on February 2010 and the remortgage figures up 23% with first time buyer activity being […]
LSB Report – Referral Fees Save Money for Consumers – 17th May 2010
The Legal Services Board has produced its long awaited report into the impact of referral fees on the market for legal services with what some may see as surprising conclusions. In a detailed report it concludes that there is no evidence that referral fees increase the price of conveyancing for consumers and do not reduce […]
SRA New Rules Enable Fines on Solicitors – 17th May 2010
From the 1st June 2010 the LSB has approved the new SRA’s Disciplinary (Procedure) Rules [2010] The SRA will be able to exercise its new statutory powers to give written rebukes and/or impose a penalty of up to £2000 where there has been professional misconduct or a breach of regulatory obligations. The standard of proof […]
High LTV Mortgages Return to the Market – 17th May 2010
Last week the Post Office launched a 90% loan to value mortgage. Britannia and Coop also have similar products. As of tomorrow Skipton Building Society is reported to be launching a 95% loan to value mortgage. The Skipton website has no information on any mortgage products awaiting the launch of the new mortgage range. […]
Shapps appointed as Housing Minister – 13th May 2010
Grant Shapps has been appointed as Housing Minister. Shapps is well known for his clear dislike of HIPs and has not missed an opportunity to vow make it one of his highest priorities if he were to become Housing Minister to abolish HIPS within a few weeks of a Conservative Government coming to power. […]
SRA due to meet the ABI over PII rules – 13th May 2010
Malcolm Tarling a Spokesman for the Association of British Insurers has informed Today’s Conveyancer that there are on going discussions between the ABI and the Solicitors Regulatory Authority to try to address the growing concerns associated with the solicitors professional indemnity insurance market. A meeting next week would hopefully constructively address some of the concerns […]
Lessons from the Law Society Survey in Professional Indemnity Insurance Renewal – 8th May 2010
The Law Society Survey into last year’s Professional Indemnity Insurance renewals has been reported on. It reveals some interesting results that all solicitors should consider. Despite all the reports about issues for firms 4 out of 5 appeared to have “no difficulty” in renewing their PI, however 3 out of 5 indicated that premium prices […]
20% Off Offer To Redeem Some Mortgages – 5th May 2010
According to The Telegraph, Toscafund, a financial management firm has been inviting some borrowers to redeem mortgages at between 15% and 20% below the "normal" redemption figure. Apparently Toscafund has been busy spending £255M on buying up portfolios of mortgages at below their normal value to enable banks to raise capital. The Telegraph indicates […]
