Month: September 2010

Conveyancing

CML warns of drop in house prices if FSA plans

The Council of Mortgage Lenders (CML) have worried conveyancers with its warning that proposals by the Financial Services Authority (FSA), to encourage responsible lending, will cause house price falls. The financial watchdog is currently consulting on ways to stop "excessive" mortgage lending and has already proposed affordability tests for all mortgages to ensure that lenders […]Read More

Conveyancing

BBA reports another drop in mortgage lending

The British Banker’s Association (BBA) reported yesterday that mortgage lending has fallen for the third month to 31.767 mortgages approved in August, down from 34,219 in July. Gross mortgage lending of £8.1bn in August was 7.6% lower than a year ago. However, high street banks continued to see fairly strong mortgage repayments, so that net […]Read More

Conveyancing

CML reports fall in August lending

August saw gross mortgage lending fall by 14 per cent, new data shows. The latest figures from the Council of Mortgage Lenders show that gross mortgage lending was an estimated £11.4billion in August, compared to £13.3billion in July. August lending was down six per cent year-on-year, from £12.1billion in August 2009. The figures for August […]Read More

Conveyancing

Double dip or summer decline? Rightmove House Price Index

Rightmove has this morning issued its September House Price Index. Rightmove’s House Price Index is compiled from the asking prices of properties coming onto the market via the estate agency branches listing on Rightmove.co.uk, representing around 90% of properties on the market.  Rather than being a survey of opinions as with some other indices, it […]Read More

Conveyancing

Landmark to provide anti-money laundering services to Co-op Legal Services

Landmark Information Group today announced a deal with The Co-operative Legal Services (CLS) to use its Anti-Money Laundering (AML) and Financial Asset Search (FAS). James Sherwood-Rogers, Managing Director of Landmark Legal & Financial, said:  “CLS provides a comprehensive suite of consumer legal services and we are delighted they have selected Landmark’s Anti-Money Laundering tool and […]Read More

Conveyancing

RBS launches a £4.7Bn securitisation

Royal Bank of Scotland is launching a £4.7bn issue of securities backed by its mortgages in its first securitisation deal of this type since the financial crisis began. RBS said it planned the mortgage-backed bond issue as part of a bid to "diversify its funding sources". The move may also suggest that there is finally […]Read More

Conveyancing

The RICS August Housing Market Survey

The RICS August Housing Market Survey has been released, confirming reports of a wide disparity between the health of the northern/southern housing markets. In broad terms, a further increase in housing supply has pushed the net price balance of property deeper into negative territory. Transaction activity remains steady albeit at relatively low levels and the […]Read More

Conveyancing

CML report subdued mortgage market for July.

The CML have reported the July lending figures. Volumes of house purchase loans were up 7% on June at 56,000 with remortgage volumes unchanged at 28,000 transactions.  First time buyer loans declined by 2% from June to 19,400 loans in July. Conveyancers generally seem to be reporting that a lot has happened since July and […]Read More

Conveyancing

Ntegrity update solicitors on the PII renewal season.

Ntegrity the professional insurance broker firms have issued an update on the solicitors’ professional indemnity market and allowed us to reproduce it. We think you might find it interesting 2010 SOLICITORS’ PROFESSIONAL INDEMNITY UPDATE  13 SEPTEMBER 2010 WHAT’S HAPPENING SO FAR? It is still early in the campaign but based on our experience and feedback […]Read More

Conveyancing

What should solicitors do if the SRA has issues with

Brian Rogers, a non-lawyer partner at Lewis Hymanson Small, who specialises in regulatory and compliance issues, discusses the best course of action for firms contacted by the SRA with Today’s Conveyancer. Over the past few years any contact from the Solicitors Regulation Authority (SRA) has given firms cause to panic, mainly due to the perception […]Read More

Conveyancing

CLC remind conveyancers of the ongoing risk of fraud.

The Council for Licensed Conveyancers have reminded conveyancers of the increasing risk from fraud.  Their latest advice is published below and should be read and considered by all conveyancers. The Continuing Fight against Fraud August 6 2010 Recent meetings attended by the CLC confirm that all legal professionals need to be ever vigilant against criminal […]Read More

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