Distressed law firms on the rise
Corporate recovery specialists, Begbies Traynor, have released their latest quarterly Red Flag Alert, a benchmark of company distress, which shows a year on year increase of 24 per cent of companies facing “critical” levels of financial distress during the last quarter of 2011. Professional Service businesses, most of which are said to be legal businesses, […]
Plenty look but few buy
Rightmove recently announced that they had received a record number of visitors to the site, over 34 million pages of traffic, in just one day. This is the not the first time Rightmove have broken their own record, they reached 33.4 million pages on January 3rd. Rightmove holds the largest market share of the top […]
Part exchange offers life line to home owners
Part exchange can remove much of the stress and cost that selling a home brings with it and this could prove to be a key selling tool for developers in 2012, according to Stubbings Property Marketing. Stubbings are a specialist agency providing dedicated marketing and sales support for developers and land owners in the UK. […]
Asda set to rival Tesco Bank
It is thought that Asda are making plans for a launch into mortgage lending following their registration of an “Asda Money” trademark. Asda have neither confirmed nor denied the reports that it will launch into mortgages, simply stating that they “register trademarks all the time”. If the reports regarding mortgage lending are correct it would […]
Stamp Duty loophole targeted by Osborne
Tax avoidance schemes are costing the nation billions of pounds in lost revenue but Chancellor George Osborne is expected to unveil plans that will close the loophole which currently cheats the Treasury out of around £500 million in stamp duty and £1.3 billion in inheritance tax, say experts. In Central London alone more than £100 […]
AIB Group (UK) Plc v Mark Redler & Co (A Firm) [2012] EWHC 35 (Ch) (23 January 2012)
Introduction This is an important case for all solicitors acting for lenders taking security. It also provides a salutary lesson when dealing with redemptions and has a useful summary of the law relating to breach of trust claims and the appropriate remedy. Here the lender was seeking to recover the balance of an advance which […]
Potential buyers positive about prospects in 2012
House buyers are said to be “upbeat” about their prospects of purchasing a property this year, according to research carried out by Santander Mortgages. Director of Santander Mortgages, Phil Cliff, commented: "Given the tough economic climate people are becoming more upbeat about their prospects of purchasing a new home this year. It’s been a tough […]