SRA begins considering nominations
The Solicitors Regulation Authority has started to consider law firms’ nominations for two key roles in the move to outcomes focused regulation. Nominations closed today for Compliance Officers for Legal Practice (COLPs) and Compliance Officers for Finance and Administration (COFAs). The SRA has now begun the task of assessing all those who’ve been put forward. […]
Lloyds commits to lending £5bn to first time buyers
The bank has pledged to lend £5bn by the end of 2012 to first time buyers. This could amount to helping 50,000 people get on the property ladder. In the first six months of 2012 Lloyds provided mortgages for more than 25,000 first time buyers. Recent figures from property website Rightmove show that there has […]
SRA confirms consumer focus
The SRA have confirmed that clients’ needs are a vital part of the regulation process for solicitors. They drew attention to the Outcomes-Focused Regulation and in particular the re-written Solicitors Code of Conduct, as evidence of its commitment to consumers. Antony Townsend, SRA Chief Executive, said: "As we stressed when we launched outcomes-focused regulation, it […]
SLC reacts to Santander panel cuts
The Society of Licensed Conveyancers (SLC) responds to Santander’s decision to reduce its conveyancing panel. The SLC have joined those expressing disappointment at Santander’s decision to cut its conveyancing panel by several hundred firms. The SLC made the following comments: “This latest news is disappointing and will come as a blow to many conveyancers, across […]
SRA warning: Acer Solicitors
The Solicitors Regulation Authority (SRA) have issued the following warning regarding Acer Solicitors. The email address matthew.shiels@gmx.co.uk and mobile telephone number 07924 551313 are not legitimate contact details for solicitors practice Acer Solicitors. The SRA has been informed that a number of individuals have been sent emails purportedly from Matthew Shiels of Acer Solicitors from […]
Casting a long shadow
The well-known case of Highcross v. Heaney has left developers with more uncertainty than ever in relation to rights of light. The decision by Judge Langan QC to issue a mandatory injunction against the developer, Highcross, in September 2010 sent shockwaves through the development community. It was the first time that such action had been […]
Land Registry to reduce fees
On 22 October 2012 the Land Registry will reduce their fees by an average of 10 per cent. They have been able to reduce their fees thanks to the efficiency savings they have made over the last five years. Fees will be reduced by an average of ten per cent. They are lowering scale and […]
Anger as Santander cuts conveyancing panel
The Law Society confirmed today that Santander will cut its conveyancing panel by several hundred firms. The cuts are based on the number of transactions firms have carried out specifically for Santander. Firms affected have expressed anger at the news. One affected solicitor said: “I’m angry that we’ve been struck off despite paying £199 to […]
Thank you from DevAssist
DevAssist would like to thank everybody for the attending and supporting our Annual Polo Day in support of the Welsh Guards Afghanistan Appeal. This is second year that we have done this as a tribute the to the late Lt. Colonel Rupert Thorneloe MBE who was killed in Helmand Province, and to all the other […]
Buy-to-let lending on the up
Buy-to-let lending has seen a 40% increase in the first half of 2012 compared to 2011, figures from Blemain Finance show. Investment has gradually increased in the last six months for buy-to-let second charge cases, showing landlords are still happy to invest in the market. The news comes as strict mortgage criteria and house prices […]
100,000 may default on mortgages
UKAR, the state-backed lender that took on Bradford & Bingley and Northern Rock mortgages, has confirmed it has more than 100,000 customers with no credible plan to repay interest-only home loans. The controversial loans, where customers simply pay interests costs rather than capital, account for 60% of their 600,000 borrowers loans. Two-thirds of those with […]
Countrywide announces results
The firm has declared its financial results for the quarter ended 30th June 2012. Despite a challenging quarter Countrywide Holdings Ltd describes its conveyancing offering as “industry leading”. They saw a 4% increase in income from their conveyancing division but a 13% reduction in EBITDA compared with the corresponding period in 2011. The Q1 […]
CML publishes top 20 lenders list
Lending remains heavily concentrated across the six largest lenders (Lloyds Banking Group, Santander, Barclays, Nationwide BS, The Royal Bank of Scotland and HSBC). Lloyds Banking Group tops the 2011 list with a 19.9% market share. The six largest lenders advanced mortgages worth £113.8 billion in 2011, up from £110.8 billion in 2010. Despite this increase […]
Thomson Reuters to support Co-operative legal services expansion
Thomson Reuters today announced that Co-operative Legal Services has selected a Thomson Reuters product to support its front office matter management needs. It’s been a big week for Co-op with the announcement that they are set to grow to nearly 1,000 branches with the purchase of parts of the Lloyds Banking group. The Co-op was […]
Law Society comment on HSBC conveyancing panel
We announced yesterday that HSBC and the Law Society were in the final stages of agreeing the process of incorporating Conyeyancing Quality Scheme (CQS) firms onto its mortgage conveyancing panel. The new process will be piloted on August 14 and rolled out across England and Wales on August 29 2012. Today the Law Society chief […]
Co-operative shakes up banking market. Is conveyancing next?
In a deal worth £750m the Co-operative Group is set to grow to nearly 1000 branches. The move sees the acquisition of Verde, TSB and Cheltenham & Gloucester brands, in what the BBC’s business editor Robert Peston described as “the deal of the millennium”. Lloyds and Co-op agreed commercial terms in June and announced last […]
HSBC Conveyancing Panel Update for CQS Members
The Law Society and HSBC are in the final stages of agreeing the processes that will ensure that the bank’s systems incorporate all Conveyancing Quality Scheme (CQS) firms onto its mortgage conveyancing panel. The new process, agreed in May, will be rolled out across England & Wales on the 29th August following a pilot of […]
Data driven crime hits record levels
The latest Fraudscape Bulletin, which analyses records of the UK’s Fraud Prevention Service (CIFAS), shows that over the last year fraudulent activity has reached new highs. £· 130,706 confirmed frauds were recorded to the National Fraud Database by CIFAS Members in the first half of 2012; a 5% increase from the second half of 2011. […]
Young property lawyer up for new award
Emma Alsop, a property lawyer with Lanyon Bowdler, has been selected as one of three finalists shortlisted for Young Conveyancer of the Year at the 2012 LFS Conveyancing Awards. This is the launch year for the awards. They have been organised to recognise and reward those in the industry that have provided an outstanding service. […]
Remortgaging price wars hit market
In the last week many lenders have introduced new deals to the market. Santander is offering a record-breaking five-year fix at 2.99%, to borrowers with a 40% deposit. The deal is extremely similar to HSBC’s new offering, although HSBC are willing to take on non-customers. Both deals demand hefty deposits or equity and bring a […]
