November House Price Index statistics released
November’s Land Registry HPI data shows a negative monthly house price change of -0.6 per cent. This is the third consecutive month in which the figure has been below zero. This brings the average house price in England and Wales to £164,773. The annual house price growth rate has continued to decline for the sixth […]
Spotlight on…..Eclipse
Today’s Conveyancer has interviewed Darren Gower Marketing Manager of Eclipse and asked what they provide to conveyancers that use their systems. Eclipse is a provider of integrated case management, workflow, and process management software. Their Proclaim system is in use by over 13,000 professionals in a vast range of sectors, incorporating legal, commercial, charitable and […]
Seasonal decline for November Mortgage lending
The Council of Mortgage Lenders has reported that gross mortgage lending in November was an estimated £11.1 billion, a 5% drop from £11.6 billion in October. Reflecting the distorted figures for lending towards the end of last year’s stamp duty concession, the November figure is 10% lower than the £12.3 billion advanced in November 2009. […]
Property Millionaires increase by 6% in 2010
Conveyancers who target high net worth clients might not be doing quite as badly as the rest? The latest figures released by Zoopla show that the housing market is not all doom and gloom with:- – 12,811 more property millionaires now than at end of last year – Equivalent to 35 new property millionaires created […]
Another subdued year for the housing market?
With the chequered performance of the property market in 2010 highlighting fundamental challenges that now face the sector RICS report that they believe the story for 2011 will remain the same. 2010 saw:- – Prices (at a headline level) remain somewhat elevated notwithstanding the modest declines recorded on most indices in the latter part of […]
BSA survey – Is now a good time to buy property in the UK?
According to the BSA Property Tracker survey in December just over a quarter of respondents, 26%, disagreed that now was a good time to buy property in the UK, broadly the same as September but much higher than just one year ago. In contrast, 43% do believe it is a good time to purchase property, […]
PCCB suspends registration of search firm
The Property Codes Compliance Board (PCCB) on Friday announced that it has suspended the registration of Ms K & Mrs J Burridge t/a Search Pack UK and Epcworx (also/previously known as Fasthipsuk also trading as Southwest Energy Assessors, Hipsearchuk and Myhipsearchuk) after it failed to meet the Board’s compliance requirements and thereby comply with PCCB’s […]
Homelessness on the rise
Not everyone will be looking forward to Christmas this year, spare a thought for the reported 11,840 households who are accepted as homeless across the Country, as reported by the Department for Communities and Local Government (CLG), this is an increase of 17% from the previous quarter. For the third quarter in a row the […]
Sheffield firm set for administration; BDO called in
The Lawyer reports that Administrators BDO was appointed on Friday on the administration of Ashton Morton Slack, which had a turnover of £7.5m in 2008 and which also advises on business, personal injury and private client work. BDO partners Dermot Power and Graham Newton are advising. The news of the current financial troubles comes three […]
House prices slip further
RICS latest UK Housing Market survey shows that activity in the housing market has continued to slow during November, with house prices slipping further.PARA It is reported that 44 per cent more chartered surveyors say that prices fell in November, a slight improvement on October’s net balance of -49 per cent. First-time buyers are still […]
Law Society says get PII overhaul right
The planned consultation by the SRA on the future of Professional Indemnity Insurance does have some sensible proposals but the Law Society believes that removing work for financial institutions from the scope of the minimum terms and conditions of cover would hit conveyancing Solicitors hard. A significant number of solicitors believe that the single renewal […]
Rightmove forecasts 2011 falls as December sellers drop asking prices 3%
Following the release of Rightmove’s December House Price Index it has been reported that December sellers have cut asking prices by 3% (£6.969) meaning we have now had falls in 5 of the last 6 months and Rightmove are forecasting more of the same for 2011. Sellers will continue to drop their prices with the […]
In the bleak (conveyancing) mid winter?
To understand the implications of the current economic climate with regards to lending and conveyancing it is important to look at how we got to be in the state that we are in and where we are heading in the future. The article focuses on the residential property market and on problems and prospects for […]
Mortgage lending decline for October
The Council of Mortgage Lenders (CML) have released data showing that an expected decline in mortgage lending has become apparent. With 46,000.00 loans for house purchases in October (worth a reported £6.7 billion), down by 6% in value from September’s figures, the total value is 12% lower than October 2009. Figures in the final quarter […]
Elle Macpherson wins landmark ruling against insolvent bank
City law firm Speechly Bircham has secured a landmark ruling for supermodel and entrepreneur Elle Macpherson against the liquidated Isle of Man bank Kaupthing Singer & Friedlander (KSF), which brings a little-known legal principle dating back 300 years into the spotlight. The case saw Miss Macpherson take the liquidators of KSF to the Isle of […]
Law Society to Discuss a Change to Professional Rules
Solicitors, particularly those in smaller practices, are concerned as to the way some mortgage lenders have reduced the size of their conveyancing panels. The Law Society have said that they are being very active in trying to engage with the lenders on this issue in order to try and dissuade them from taking what appears […]
The Land Registry launches consultation on land registration legislation.
The Land Registry have launched a consultation on proposed changes to land registration legislation to take account of changes made by the Legal Services Act 2007 The Legal Services Act 2007 makes provision for the regulation of persons and bodies who carry on certain legal activities and lists and defines what activities constitute reserved legal […]
SRA propose changes to PII
The SRA has announced that it is proposing to remove the single renewal date for Professional Indemnity Insurance (PII) for firms from October 2011. This means that firms would be able to renew cover at any time of the year. These changes, and other longer-term proposals, are set out in a consultation paper, which follows […]
New service to avoid negligence claims for updates to CML Part II
Conveycentric and Landmark have issued the following press release which we think our readers will value reading in its full form. Insurance-backed search available from the CML website provides solicitors with immediate access to Handbook updates Conveycentric has joined forces with Landmark Information Group and its Quest business, and theCML to launch the new LENDERmonitor […]
SRA to review approach to Conveyancing
Legal Futures has reported that the SRA is considering significant changes which may impact conveyancers. Specifically in respect of the holding of mortgage advances and insurance renewals. In July 2010, the SRA commissioned Charles River Associates (CRA) to undertake a “root and branch” review of the current financial protection arrangements and in particular to look […]
