Weak mortgage data fuel fears of consumer spending collapse
Fears grow of a further collapse in consumer spending, as new figures on mortgages and personal lending are released by the Bank of England. Mortgage approvals slumped to a six-month low in August, leading some commentators to anticipate the possibility of a “double dip” in house prices. Any fall in prices is bound to have […]
Market activity sees September pick up.
Transactions in September increased by 3.4% in the month, up 11.5% compared to last September, reveal LSL Property Services/ Acadametrics House Price Index. Average house prices registered a 0.2% increase in September. Over the last six months, house prices have registered a modest 1.0% growth. Year on year house price growth slowed to 7.0%, and […]
LSB rules out ban on referral fees
The Legal Services Board (LSB) has confirmed that it does not back reinstating the ban on referral fees but suggested that instead all agreements between lawyers and their introducers should be made public The LSB said today that there is insufficient evidence to make the case for a ban, but that transparency and disclosure need […]
Law firms and joint ventures with financial services providers
With conveyancers being pressured on every side, Allan Carton of inpractice has reminded firms about the opportunities that will arise over the coming months from providing services that aren’t legal but are linked to the legal services sector. Explaining that the number of law firms providing in-house financial services in England and Wales has dwindled […]