Unsold stock at a four year high
Rightmove have released their House Price Index for April 2011 showing that agents are holding unsold stock at around 74 properties per branch, up from 70. It just goes to show that the increased number of sellers coming to market is not being matched by an increase in purchasers’ ability to buy. Property supply is […]
Borrowers race to fix mortgage rates
The latest National Mortgage Index released by Mortgage Advice Bureau and Coreco Group has indicated that the bulk of new mortgage applicants are opting for a fixed rate mortgage. Of the total mortgage applications for March 80 per cent were for fixed rate deals, up 1 percent from February. Borrowers who appear to be making […]
SRA professional indemnity insurance reforms welcomed by Law Society boss
Last week the SRA announced the outcome of its review into solicitors professional indemnity rules. In summary main changes are in relation to the operation of the Assigned Risks Pool (ARP). They are: – In October 2011 the amount of time a firm can remain in the Assigned Risks Pool will be reduced from […]
A missed opportunity say the Association of British Insurers
The Association of British Insurers (ABI) has warned that the Solicitors Regulation Authority (SRA) proposals to reform the Professional Indemnity Insurance market ‘are inadequate and will increase fears for the future of the market. The ABI have reportedly called for the closure of the assigned risks pool this year, instead of October 2013, and have […]
Conveyancing Protocol – Book review
The Conveyancing Protocol is a 160 page softback text that sets out the Law Society’s “preferred practice” for conveyancing transactions for freehold and leasehold property. From the 1st April 2011 the new Conveyancing Protocol has taken effect and will be compulsory for firms seeking to be members of the Conveyancing Quality Scheme (CQS). This […]