Home Builders Federation show early success of NewBuy
The Home Builders Federation has released figures showing that 400 new homes have been reserved through the NewBuy scheme since its launch nine weeks ago in March. This figure comes as statistics show a 15% fall in the number of housing starts in the first quarter of 2012, compared with 2011. Over the first […]
Peppermint Platform delivers COFA and COLP toolset
Peppermint Technology has unveiled its COFA and COLP toolset which delivers continuous risk management and reporting tools as part of the Peppermint Platform. As firms are getting ready to nominate their compliance officers as part of the new outcomes focused regulation approach from the SRA, they should also look at the tools around to help […]
House Building falls during first 3 months of 2012
Data released by the ONS shows that during the first quarter of 2012 the number of house building starts was 24,140. This is a fall of 11% compared to quarter four of 2011 when there were 27,240 starts. This is 50% lower than the peak in quarter four of 2005. The greatest fall in new […]
Minimum salary for trainee solicitors scrapped by SRA
From 1st August 2014, firms will no longer be obliged to pay trainee solicitors a minimum salary above the national minimum wage, it has been announced by the SRA Board. The change will mean that trainees could be paid as little as the national minimum wage, which is currently £6.08 an hour. This would […]
Grant Shapps launches £30m fund following surge in self-build market
Housing Minister Grant Shapps has announced that Kevin McCloud has been appointed self-build industry champion by the National Self Build Association. His main roles will be to raise public awareness of the benefits of self-building a home and helping the self-build industry to promote the services available for first time self-builders. Kevin McCloud is […]
Building Societies Association publishes toolkit for self-build market
The BSA has published a toolkit to provide information to encourage more lenders to offer mortgage finance to self-build projects. It claims that one in 10 new homes built in the UK are self-build projects, which generates £3 billion every year for the UK economy. It estimates that self-build properties accounted for two out […]
The Housing Hub launched to promote wider access to home ownership
The BSA has launched a new housing initiative called The Housing Hub, which it sees as an opportunity to bring lenders and housing associations together. It believes that by co-operating more closely it will allow alternative home ownership models into the mainstream, allowing more people to own their own homes without the barrier of finding […]
Surge of activity in mortgage market in March
CML figures released last week showed that there was a surge in activity in March. The largest increase was in lending to first time buyers, as they rushed to beat the stamp duty holiday. First time buyers took out 24,000 loans in March, with a value of £3 billion. The amount of loans taken […]
Report says Government failing to tackle housing crisis
A joint report published by the National Housing Federation, Shelter and the Chartered Institute of Housing suggests that the Government is failing to tackle the housing crisis. The report shows that the Government is failing to deliver on five out of ten key housing indicators. These are: – Housing supply – Overcrowding – Homelessness – […]
CML gross mortgage lending figures show decline in April.
The Council of Mortgage Lenders released the gross mortgage lending figures for April today. Lending fell by 19% from March, as an estimated £10.2 billion was lent. This is a monthly fall of £2.4 billion. However, this still represents an annual increase of 2%. Bob Pannell, CML Chief Economist comments: "Mortgage lending activity has been […]
Law Society sends open letter to the profession regarding the HSBC lender panel agreement
Desmond Hudson, Chief Executive of the Law Society has posted an open letter to the profession on its website regarding the HSBC lender panel agreement which was announced on Wednesday. The Law Society has kindly allowed us to republish the letter. Thursday 17 May 2012 Dear Colleagues, I am pleased to inform you that the […]
Ensuring you have an undertaking
Alan Riley of PropertyPSL Ltd looks at the recent case of Nationwide Building Society v Davisons (a firm) (2012) Ch Div 24 April and discusses the importance of ensuring you have an undertaking. This article was first published on http://www.propertypsl.co.uk/ and we are grateful to Alan for allowing us to republish this. How does a […]
Butterworths re-launch firm following merger
North-West based Butterworths Solicitors has merged with Cinnamon Property Lawyers, the conveyancing firm based in Gateshead, expanding into the North East. The firm is focusing on delivering key specialist transactional based services in the areas of property and financial litigation to business and individual consumers. Following the merger Senior Partner Tony Butterworth will […]
First Title Launches new policy to mitigate risks from new Localism Act
First Title Insurance Plc has launched a new policy aimed at protecting homebuyers from potential exposure from risks that arise following the passage of the Localism Act 2011. The new policy is designed to protect against the risks from the concealment of breaches of planning by sellers. The Localism Act 2011, which came into […]
Church of England to assert right to minerals
The Church Commissioners is applying to the Land Registry to register the Church of England’s ownership of mineral rights which have become detached from the ownership of the surface of the land, the Independent has reported. Holding the mineral rights to land means that the Church would be able to extract the minerals, although digging […]
Santander becomes fifth lender to join NewBuy scheme
Santander has become the fifth lender to join the NewBuy scheme, launching a choice of three mortgages for those with a 5-10% deposit buying a new build property. The bank will offer loans with fixed rates for 3, 5 or 7 year periods. The 3 and 5 year mortgages have a fixed rate of 5.49%. […]
Napthens joins Conveyancing Quality Scheme
The Lancashire Law firm Napthens has been accepted as a member of the Conveyancing Quality Scheme (CQS), the Law Society scheme to provide a recognised quality standard for residential conveyancing firms. Membership of the CQS means that the firm has offering high standards, good practice in management, efficient conveyancing procedures and a high quality […]
Licensed Conveyancers react to HSBC panel changes
Following the announcement yesterday by HSBC that from August all members of the Law Society CQS scheme will be allowed onto its lenders panel, bodies representing Licensed Conveyancers have called for panel recognition. HSBC and the Law Society jointly announced the changes to the panel arrangements which had been in place since January. Under these […]
Industry reacts to HSBC lender panel changes
The HSBC and the Law Society yesterday announced changes to the HSBC lender panel. From August the panel will be widened from a limited panel of 43 firms to include all firms that are accredited with CQS membership. The news has led to much industry comment. Eddie Goldsmith, Chairman of the Conveyancing Association said of […]
HSBC opens panel to CQS members
In a statement this morning HSBC and the Law Society have jointly announced changes to the much criticised limited panel arrangements that have been in place since early 2012, which saw an initial panel of only 43 firms on the HSBC panel. Giving significant support to the Law Society Conveyancing Quality Scheme (“CQS”), HSBC are […]
