November mortgage activity boosted by first time buyer demand
A Connells Survey and Valuation ‘Housing Market Activity Report’ shows a monthly increase in mortgage activity in November, thanks to first time buyer demand. Valuations carried out during November increased by 3 per cent, when compared to October. Increased first time buyer activity was a “key factor” in increased mortgage activity for November, with the […]
Email marketing and why it’s a no brainer
Paul Hajek at Solicitors Marketing System says that email marketing for small law firms is a no brainer. Paul lists the 5 reasons why email marketing is a no brainer and if you think about it logically he is right. Most of you, even if you don’t agree with the other 4 points, would have […]
Society of Licensed Conveyancers experience significant growth
The Society for Licensed Conveyancers represents licensed conveyancers in the same way that the Law Society represents solicitors. Since the creation of the concept of licensed conveyancers consumers have faced a choice as to whether to use a solicitor or a licensed conveyancer to conduct the conveyancing reserved services. Whilst many of the largest […]
Groundsure launch Home Environmental Liability Insurance
Enviromental searches have long formed an important element of the search packs used by conveyancers and solicitors when acting on both residential and commercial property transactions. In 2001 the Law Society provided guidance on contaminated land so that unsuspecting purchasers, with the assistance of their solicitors, could avoid the liabilities, as set out in Part […]
SRA publishes case study into “gross recklessness” of solicitor involved with land-banking scam.
The SRA has issued a warning to solicitors stating “We are concerned about a relatively new type of practice that targets the public by misleading them into investing in land for future development under false pretences. You should be wary of getting involved in any transactions of this kind.” With the FSA indicating that , […]
Lloyds say sole practitioners have a place on their panel
At a time when most lenders seem to want to maintain a professional distance from conveyancers Lloyds Banking Group yesterday went out of its way to engage conveyancers by speaking at the Conveyancing Association’s Christmas Reception. Eddie Goldsmith the Chairman of the Association described the group as the “best of breed” conveyancers and the “who’s […]
Sale and Rent Back warning
The SRA (Solicitors Regulatory Authority) has issued a warning to conveyancers to be on their guard even if you do a single sale and rent back transaction. The warning states “Since 16 September, anyone who conducts SRB business–even a single transaction; must be authorised by the FSA, unless they are related to the customer. To […]
Today’s Conveyancer campaign against unnecessary enquires.
Peter Rodd the Chair of the Law Society Property Section and senior conveyancing partner at Boys & Maughan in Margate has written an article in the Gazette criticising firms for failing to use the new Conveyancing Protocol. Despite the fact that it is already eight months old and supposed to be adopted by all CQS […]
Celebrations at Conveyancer of the Year Award
In what was a day full of razzamatazz Estate Agency Events filled one of the largest hotel venues in London for their award ceremony. Throughout the day the atmosphere buzzed with anticipation. Starting early in the day I attended the Leadership forum in the morning and was able to see the latest advances of Rightmove’s […]
SRA warning about firms “branch” office
The SRA have published the following warning to solicitors. “Information received by the SRA indicates that an office at 219-221 Alum Rock Road, Alum Rock, Birmingham, B8 3BH appears not to be a legitimate branch office of the solicitor’s practice AA Law of 6B Skegness Business Centre, Heath Road, Skegness, Lincolnshire PE25 3SJ. It appears […]
New Executive Director for SRA
Richard Collins, the Solicitors Regulation Authority’s (SRA) Director of Policy and Standards, has been promoted to Executive Director. Collins will now be responsible for Regulatory Policy, Standards, Strategy and Research and will sit on the SRA Senior Management Team (SMT), overseeing management and development of these areas. Antony Townsend, SRA Chief Executive, comments: "The changing […]
Samarenko v Dawn Hill House Ltd [2011] EWCA civ 1445 (01 December 2011)
Introduction This case raised an important yet common issue. If a purchaser failures to pay a deposit on time under a contract for the sale of land does that lead to a repudiatory breach of contract entitling the seller to terminate the contract? In law if the answer is no but the contract makes time […]
What can I do to stay on lender panels?
Last week we heard from a medium sized firm of solicitors conducting about 70 transactions per month that was removed from a large lenders panel and they had no idea why. The letter told the conveyancer that they had no right of appeal and that the decision was final. This lender represented over 25% of […]
Rule 8.5 of the new SRA Code of Conduct and how it relates to letterheads and websites.
The Solicitors Regulation Authority (SRA) new Handbook and Code of Conduct came into effect on 6th October 2011 after being agreed in June. This represents a big change in the way that law firms are regulated, moving away from a much prescribed rule-based approach towards a more flexible outcomes-focused regulation. The Handbook creates 10 Principles […]
Gazumping, Gazundering and Gazanging could be a thing of the past
Glaisyers Solicitors LLP, a Manchester-based law firm, has advised Tim Price on the launch of a product which is set to “revolutionise” the home buying process. Entrepreneur, Tim Price, founder of AssuredSale, a new online platform that aims to “increase the momentum of the sales process and reduce the rate of failure for buyers, sellers, […]
Sharia compliant buy to let mortgages from Islamic Bank of Britain
Islamic Bank of Britain, the first UK FSA approved Islamic bank, has recently entered the buy to let market with the launch of the Sharia compliant Buy to Let Purchase Plan (BTLPP). Sharia law prohibits the payment, or acceptance, of interest or fees for monetary loans. For many British Muslims this meant that owning their […]
What work should conveyancers chase now?
In the Autumn statement last week we all know it was confirmed that the Stamp Duty Land Tax break for first time buyers would end next March. Conveyancers like Fidler and Pepper and others have already started waiving the marketing flag to encourage first time buyers to accelerate their plans to buy before the deadline […]
Estate Agent prosecuted for DPA breaches may create an opportunity
Last week an estate agent pleaded guilty to the offence of failing to notify the Information Commissioner’s Office (ICO) that his business processes personal data. The Data Protection Act 1998 requires every organisation or person who is processing personal information in an automated form to notify, unless they are exempt. Failure to notify is a […]
Co-op warns Draft EU legislation may penalise buy-to-let landlords
The Co-operative Legal Services team has joined the throng of commentators on the challenges that the EU may present to the buy to let market by requiring lenders only to consider earned income when considering affordability of buy to let lending. At the present time buy to let mortgage lenders are not subject to the […]
Bank of England: Forbearance masks true figure of mortgage arrears
The Bank of England’s latest Financial Stability Report has looked at the issues surrounding official arrears figures and the fact that they are “being ‘significantly’ masked”. The review by the Financial Services Authority, at the request of the bank, looked at the potential scale of the problem due to increasing concern that the true picture […]
