Right to Buy reaches new high
The number of Right to Buy homes sold between April 2012 and April 2013 reached 5,942, the highest level since 2007. According to the latest figures, released by the Department for Communities and Local Government, this was a doubling from the previous year. 2,449 properties were sold in the first quarter of this year, more […]
CML report increased first time buyer activity during March
The Council of Mortgage Lenders (CML) released data this week showing an increase of 20 per cent in the number of first time buyers during March. The increase in loans to first time buyers from 15,900 in February to 19,100 in March, and a slight increase in home mover numbers both contributed to a monthly […]
Over 95% of new NHBC Buildmark acceptances completed online
Since NHBC launched Manage Buildmark Acceptance (MBA) in November 2012, of the policies which have been registered and accepted, 95% have been completed online. The MBA system allows conveyancers and builders to easily manage the acceptance of Buildmark process. There are no paper acceptance packs to store or send anymore, and Policy Numbers and Activation […]
Is Equity Release the answer to the looming interest-only crisis?
Data released by Key Retirement Solutions last week shows an increase in consumer confidence in the use of equity release. The Equity Release Market Monitor shows a record 27 per cent increase in the average amount of equity released during the first quarter. The first quarter of 2013 saw consumers release £56,710, up on £44,519 […]
Repossessions stabilised says CML
The Council of Mortgage Lenders (CML) has published data showing the rate of lender repossessions in quarter one are down on the same period last year. Lender repossessions remained at 0.07 per cent, the same figure as the three previous quarters. The figures released last week showed that 8,000 homes were taken into possession by […]
Be ‘Scam Aware’ warns SRA
May is Scams Awareness Month and the Solicitors Regulation Authority (SRA) is urging consumers buying legal services to be ‘scam aware’. The SRA report that they have seen an increase in bogus solicitors over a period of two years and regularly release updates on their website. The scams can take a various different forms, including: […]
Risk and Compliance
Compliance Plans, Risk Register, Client Care, Code of Conduct, COLP/COFA, Business Continuity, Outcomes Focused Regulation! All terms we see all too often within the legal profession. “Compliance” has taken the industry by storm but has left lawyers in a state of confusion and anxiety. There are so many different facets to consider when referring to […]
Search industry calls on Land Registry’s new head to take urgent action to address concerns over plans to reform its land charge registers
The Council of Search Organisations (CoPSO) is calling on Ed Lester, the recently appointed new Chief Executive of the Land Registry to urgently address a number of concerns raised over its local land charges prototype. CoPSO, which represents over 90% of the search industry, is requesting a meeting with Mr Lester, where it hopes to […]
CML data shows growth in buy to let lending
Council of Mortgage Lenders (CML) data released yesterday shows gross mortgage lending is up compared to the same period last year (£3.7 million). Over £4 billion was advanced to buy to let landlords throughout the first quarter of 2013 although almost half of this related to remortgage and not house purchase. According to the CML […]
North West firm continues London expansion
North West based law firm, Stephensons Solicitors, continue its expansion plans with a second office opening in London. The new premises at 1 Lyric Square, Hammersmith, W6 is the second London based office to be opened in the last two months and will open on Monday 13th May. The firm’s first London office, Royal Mint […]
RPSA calls for more education surrounding property surveys for consumers
The Residential Property Surveyors Association (RPSA) recently hosted a conference where members saw presentations which covered key issues having an impact on the profession. Global Residential Director at RICS, Peter Bolton-King, spoke about the key findings from a recent RICS survey into property survey options and the lack of awareness from home buyers. According […]
MTA acquires volume conveyancing firm
MTA Solicitors have acquired Solex Legal Services, Legal Futures were able to reveal earlier this week. MTA, an ABS firm, say they are making good progress with their programme of diversification. The firm has recently acquired the Bromley based volume legal services firm, Solex Legal Services. As well as volume conveyancing and remortgage services, Solex, […]
STL to provide services to LawNet firms
As part of its commitment to helping conveyancers stay ahead of the competition, reduce costs, improve efficiencies and profitability, LawNet has launched a new arrangement with search specialists STL. When asked ‘Why STL?’, Helen Hamilton-Shaw, Director of Services at LawNet said, “Because their aims and ethos closely match our own and we believe they can […]
SRA issue reminder for Solicitors Roll
The Solicitors Regulation Authority (SRA) has issued a reminder of the deadline for those Solicitors without practising certificates to remain on the Solicitors Roll. Solicitors who do not have a Practising Certificate only have a further six weeks in which to apply to remain on the Roll with the cut-off date being Tuesday 18th June. […]
Free CPD Compliance webinars
Free CPD Compliance webinars in May and June from TM Group. Helping you find workable solutions to your compliance requirements and ways to mitigate risk effectively. Places are limited, so please book today. With speakers from Jet Convey, Lawyer Checker and Lockton, you can be assured that the latest issues in compliance will not only […]
Tim Higham considers the new TA6
This week marks the launch of the third edition of the Property Information Form (TA6) which most home movers will recall is the general questionnaire which sellers complete to provide buyers with useful and practical answers to pertinent/standardised questions which may affect their decision to continue with their purchase or not (e.g. have there been […]
SLC road shows prove popular
Nearly a third of the SLC membership attended one of their recent spring road shows. Events took place in Leicester, Newport, Brentwood and York giving conveyancers the chance to network with other and listen to a range of topical presentations. The on-going debate around the CLC’s application to expand its regulatory powers was a hotly […]
Lanyon Bowdler expand residential property team
In a market that is supposedly not “moving”, Today’s Conveyancer are hearing of plenty of new appointments in law firms across the country. One such appointment is the addition of Solicitor, Rachel Wierzbinski, to the residential property team at Lanyon Bowdler. Rachel, who joined the firm from Harrisons LLP, completed her law degree at The […]
Socialist Party believes the Land Registry will privatise
The Socialist website has published a piece speculating on the likelihood of the Land Registry being privatised. They said that: “The Land Registry’s public sector status is already under scrutiny with up to 1,000 of the current 4,500 jobs under threat over the next five years.” The Land Registry’s current purpose was pointed to, of […]
Bank of Ireland in tracker mortgage controversy
About 13,500 customers have been affected by the Bank of Ireland doubling their mortgage rates. The mortgages concerned are tracker mortgages taken out prior to 31 October 2004; the borrowers concerned believed they were on lifetime tracker mortgages. The consumer group Which? have said the change is “wholly unfair” and group Landlord Action in association […]
