Legal Services Board consults on extending the SRA’s Compensation Fund for ABS firms after 2012
The Legal Services Board has opened a consultation on extending the SRA’s Compensation Fund for ABS firms after 31 December 2012. The intention of the consultation document is to ensure that there are adequate compensation arrangements for ABS firms that are regulated by the SRA after the end of the year. Also included […]
Lenders welcome European mortgage vote
The CML reports that UK lenders have made welcome progress on the final shape of the proposed mortgage directive after a recent vote by the European Parliament’s economic and monetary affairs (ECON) committee. The vote last week backed the UK stance on buy-to-let lending. The UK stance is that buy-to-let lending should be excluded from […]
James Sherwood Rogers appointed as CoPSO Chair
The Council of Property Search Organisations (CoPSO) has appointed James Sherwood-Rogers as Executive Chairman. He will take up the newly created post with immediate effect and will be working closely with the CoPSO board members to drive forward its agenda for 2012. Sherwood-Rogers has previously worked for Landmark and had held the position of Non-Executive […]
Case raises warning over stamp duty and apportionment of sale price
The recent case of Orsman v HMRC (2012) highlights the care that should be taken when splitting the sale price of a property between land and chattels, and shows that the question ‘fixture or fittings?’ can still be a difficult one. In this case Miss Orsman agreed to pay £258,000 to purchase a house and […]
Buying saves nearly £200,000 compared to renting over lifetime
According to a new study from Barclays released today, stepping onto the property ladder has enormous financial benefits over an adult’s lifetime. Owning a home instead of renting will save £194,000 over a fifty year period. This is before the value of the property the buyer will own is accounted for. The total cost of […]
HSBC approves 15,000 first time buyer mortgages
The HSBC announced in January that it would be making at least £15 billion in mortgages available to UK homeowners in 2012, including £3 billion for first time buyers. It has been revealed that by the end of March HSBC had already approved £4.9 billion in mortgages to UK borrowers. £1.2 billion of this was […]
1 in 10 in UK focused on mortgage savings
New research from Clydesdale and Yorkshire Banks released this month shows that people in the UK remain focused on their finances, with more than one in ten planning to remortgage, pay-off or make over-payments on their mortgage in the next twelve months. People in the Midlands are most likely to review their mortgage arrangements, […]
ABS – A Tonic or a Tyrant?
The ABS landscape is finally stirring into life with a rash of eye catching and some downright left field players emerging into the light. Some are well predicted, with the Co-operative Group making the boldest play and seeking mass distribution through major customer centres around the country and up to 3000 staff. Others, like Eddie […]