SRA consultation on penalties
The Solicitors Regulation Authority (SRA) has launched a consultation asking for feedback on the fines it can levy against firms and individuals that have breached the Code of Conduct. The proposals look to make the fining criteria more consistent and transparent. If approved, the policy would adopt a three-step approach to determining the level of […]
Judge declares laws for co-habiting unfair
In a case last week, Lord Justice Toulson remarked that property laws relating to those co-habiting offered little legal protection to non-married couples whose relationships break down. He referred to a report that was published by the Law Commission in 2007 that recommended current property laws be reformed to give those in cohabiting relationships the […]
Mixed reports on remortgage market
According to data from the Council for Mortgage Lenders (CML) monthly gross remortgage lending fell by £404m in December to £2.7bn. This represents a fall of 13.0% from November reversing a strong September and October. The figures also showed a fall of 9.3% in total gross mortgage lending in December, to £11.7bn. This meant as […]
Property transactions at five year high
The HMRC have released their latest set of data relating to the number and aggregate value of property transactions in the UK. There were 932,000 completed transactions of a value above £40,000 last year, up 5% from 2011. Sales had increased in the final quarter to 237,000 transactions, a 4 per cent increase on the […]