FSA puts end to remortgage boom
The Financial Services Authority (FSA) have delivered another blow to conveyancing solicitors as they bring in tough new rules which will see many homeowners unable to release equity in their properties. Utilising equity in property has long been a “fashionable” way of raising extra funds to pay off debts or funding home improvements but strict […]
Right to Buy boost for council tenants
Council tenants will soon be offered an increased discount of up to £50,000.00 in a Right to Buy scheme shake-up. In some parts of the country this could see discounts trebled. The shake-up is part of an effort by the Government to “ease the struggle and help some of the two million social tenants in […]
Taylor Wimpey forced to bulldoze 24 brand new homes
Bulldozers were brought in to demolish part of a brand new housing development in Cheltenham, Gloucestershire, earlier this month when a group of residents took on the might of Taylor Wimpey and won. Taylor Wimpey had started building on the site, which has planning permission for 124 homes, following their acquisition of the land in […]
SRA urges firms to take care with vulnerable clients
The Solicitors Regulation Authority (SRA) have urged Solicitors to ensure close attention is paid to clients individual needs, particularly the most vulnerable members of society, and ensuring that they deliver a proper level of service. The SRA’s new Principles and Code of Conduct states that “Solicitors should provide a proper standard of service to clients”, […]
FSA secures interim injunctions and freezing orders to protect consumers from unauthorised land banking firms
On Tuesday, 20 December 2011, the Financial Services Authority (FSA) secured interim injunctions and freezing orders from the High Court against companies including St Clair Estates Limited, OFG Investments Limited, Option Land UK Limited, and GIG Properties Limited as it suspects these companies are running a land banking operation. The firms are believed to have […]
“Don’t forget about home owners” warns conveyancer
The recent Government announcement of an initiative to assist new build purchasers has prompted Eddie Goldsmith, partner at Goldsmith Williams, to urge the Government not to forget about home owners. The new mortgage indemnity scheme will allow up to 100,000 potential home buyers in England to get on the property ladder. The initiative will see […]
Land Registry’s local land charges proposals receive significant support
The Land Registry has been carrying out research with government stakeholders and customers with a view to “widening the range of information searches to include searches of the Local Land Charges Register and other information currently supplied by local authorities”. The findings have been released today and as a result the development of these proposals […]
High Street Conveyancing Firms and Estate Agents urged to support Mary Portas
Mary “Queen of Shops” Portas and her recent review highlight some important considerations for estate agents and conveyancers, according to The Bold Group, a membership body of over 120 independent high street law firms. Following the recently released The Portas Review, which provided an independent review into the future of our high streets, The Bold […]
England’s Green and Pleasant land
A definition of a village green is noted in the Countryside and Rights of Way Act 2000 as land ‘on which for not less than 20 years a significant number of inhabitants of any locality, or neighbourhood within a locality, have indulged in lawful sports and pastimes as of right… and continue to do so’. […]
2011 a year of winners and losers
Data from the Land Registry shows just how much things are changing in the conveyancing market. A year ago the conveyancer registering the largest number of transfers for value was Countrywide Property Lawyers who registered 885 applications however a year on whilst the large licensed conveyancer has been surpassed by the first ABS My Home […]
A new search enters the market.
DevAssist, have developed and launched a new conveyancing search. The search informs purchasers, or professionals, of where undeveloped land exists within 75m of a specific property. When asked where the idea came from Paul Addision of DevAssist said” for years I have listened to very upset and disgruntled residents every time I submitted an application […]
House prices remain static but transactions up 4.5%
In defiance of the doom and gloom that currently surrounds the economy, house prices remained static in November but transactions increased by 4.5 percent, according to the House Price Index released by LSL Property Services. In the year to November house prices fell by only 0.7 per cent. In London, however, prices rose 3.1 per […]
A positive year for Equity Release
Equity Release Solicitors’ Alliance (ERSA) carried out research over the last 12 months to establish what awareness and demand there is around equity release. The results show an increase in the percentage of people considering equity release, 38 per cent, up from 20 per cent, which is a staggering 90 per cent increase. The research […]
England’s Green and Pleasant land
A definition of a village green is noted in the Countryside and Rights of Way Act 2000 as land ‘on which for not less than 20 years a significant number of inhabitants of any locality, or neighbourhood within a locality, have indulged in lawful sports and pastimes as of right… and continue to do so’. […]
Legal and More suspended from search code by PCCB
The Property Codes Compliance Board (PCCB) which it the independent body that enforces the Search Code has announced that London based Legal & More Limited has been suspended from the Search Code, after failing to meet the required standards set out by the Code. Legal and More describe themselves as having "An ambition to be the UK’s Premier […]
Eurozone crisis prompts flurry of activity in housing market
Investors looking to reduce the impact of the Eurozone crisis on their finances have boosted buyer figures in the housing market during the last few weeks, according to Marsh & Parsons, a London based estate agency. The increased demand of investors who are looking to purchase quickly has increased ‘under offer’ properties, despite the usual […]
1000 CQS firms
The Law Society accredited its 1000th Conveyancing Quality Scheme (CQS) firm today, less than a year since applications opened. Coventry-based Penmans Solicitors LLP has become the 1000th accredited CQS firm. The total number of law firm branches with the CQS mark in England & Wales is 1548. Applications to join the scheme stand at 1579. […]
Search Code enhancements implemented following changes in the Housing Act
The Council of Property Search Organisations (CoPSO) and the Property Codes Compliance Board (PCCB) have today announced changes to the Search Code which will affect the way it is enforced throughout the UK. The new measures provide improved protection for those who rely on information provided in search reports. Taking the decision to “enhance the […]
Do you Know Your Client?
We as conveyancers deal with all manner of clients including those who we have represented for years and know well, those who live locally and can pop into the office, those who seem legitimate and friendly but we’ve never met them face to face and those who repeatedly instruct us from all over the country […]
Law Society Practice Note “Lender requests for files”
There are some lenders requesting disclosure of information and/or documentation contained in conveyancing files, according to the Law Society and, in response to this, they have issued a Practice Note entitled "Lender Requests for Files". The Practice Note contains useful information about what you should do when lenders request information or documents contained within their […]
