Month: July 2013

Conveyancing

Quality Matters …

The financial crisis of 2007-2012 left the housing market in a very fragile state, but thankfully there are now definite signs of improvement, rather than just optimism, to give us all something to feel positive about.  Those of us who managed to weather the storm will no doubt have learned a great deal about our […]Read More

Conveyancing

Troubled Midlands firm owes £11.2m

Midlands firm Challinors owes more than £11.2m to unsecured creditors as it prepares to go into administration. The firm carried out 32 registrations in June at Land Registry, making them in the top 15% of firms in the Land Registry table. They have confirmed that they have filed notice of their intention to appoint administrators. […]Read More

Conveyancing

Gross mortgage lending up 28%

Gross mortgage lending by building societies and other mutuals reached £3.5 billion in June. According to the latest figures from the Building Societies Association (BSA) lending over the first half of the year was up 28% from the same period in 2012 to £18million. Mutuals now hold a 24% share of the gross lending market, […]Read More

Conveyancing

Equity release market continues to grow

A total of £508million in housing wealth was released in the first six months of the year thanks to growing confidence in equity release. According to research from specialist adviser Key Retirement Solutions customers taking out an equity release plan in the first half of 2013 released an average of £55,272 up 12% from 2012’s […]Read More

Conveyancing

The role of the COLP

The SRA Handbook and Code have been in force since 6 October 2011 and COLPs and COFAs took up their roles formally from 1 January 2013.  Incredible to think it has been more than 6 months. The role of the COLP and COFA doesn’t need to be complicated.  We will be focussing on the COLP […]Read More

Conveyancing

Land Registry increases availability of Linked Data

Historic Price Paid Data (PPD) and House Price Index (HPI) background tables are now available as machine readable Linked Data. These improvements from the Land Registry mean that the data can now be easily linked to other data sources, manipulated and analysed. The changes are part of the governments “Open Data” agenda which strives to […]Read More

Conveyancing

Reaction to Help to Buy extension

Help to Buy will now be extended helping people to buy any property under the value of £600,000, rather than just new builds. The announcement was made last week when Chancellor George Osborne met with mortgage lenders and house builders to update on progress prior to the January launch of the Help to Buy scheme. […]Read More

Conveyancing

Highest number of new homes since 2008

According to the latest National House Building Council (NHBC) registration statistics the UK house-building industry has seen its highest half-yearly total of new homes registered since 2008. 67,422 new homes were registered between January 2013 and the end of June, with a 38% increase in registrations for the period April – June compared to the […]Read More

Conveyancing

Average house prices continue to increase

House prices increased 0.6% from May to June taking average prices in England and Wales to £162,621. According to the latest market trend data from the Land Registry there was an annual increase of 0.8% in the national figures. As usual the region which experienced the greatest house price rise was London which saw a […]Read More

Conveyancing

Consumer confidence in market picks up

The latest Lloyds TSB Consumer Sentiment Index has shown consumer confidence has reached a new high of 112 points in June. Growing confidence in the current economic situation and housing market are thought to be behind the increase. 112 is the highest level on record since the Consumer Sentiment Index started in November 2010. Confidence […]Read More

Conveyancing

SLC and Legal Eye announce regional conveyancing road shows

The Society of Licensed Conveyancers (SLC) has announced a series of regional road shows that will take place during September. The events, run in partnership with compliance experts Legal Eye, will cover topics including; The Future of CLC Regulation, Marketing and Selling Conveyancing Services, Legal Compliance for Law Firms and Flood Proofing Homes. The sessions […]Read More

Conveyancing

Choose a specialist conveyancer or risk your sale

Eddie Goldsmith, Chairman of the Conveyancing Association responds to the Chancellor’s announcement that the help to buy scheme will be extended to all properties from January.  Eddie Goldsmith, Chairman of the Conveyancing Association, warns:  “It is imperative that home buyers using the Help to Buy scheme choose a conveyancer with the necessary expertise. Help To […]Read More

Conveyancing

June sees a surge in average remortgage loan

While overall remortgage lending fell in June to £3.5bn, the average remortgage loan has hit its highest ever level at £149,514. According to the latest figures from LMS remortgaging now accounts for 23% of the total market. Those remortgaging are each taking out an average of £22,615 in extra equity the highest amount per individual […]Read More

Conveyancing

Rent holds steady in June

Average rent goes against usual seasonal increases by holding steady at £737 per month. According to the latest Buy-to-Let Index from LSL Property Services plc the surge in first-time buyers has eased the stress in the rental market. Over the last five years rent has seen a seasonal increase of an average 0.8% monthly increase […]Read More

Conveyancing

Conveyancers flock to sell out Awards !!

Law Firm Services have had an incredible response by conveyancers to the Conveyancing Awards and have sold out of tickets for the 300 capacity event Richard Mathias of LFS says “ we have been inundated with requests from law firms to both attend and enter the awards. To keep numbers sensible, we have unfortunately had […]Read More

Conveyancing

Government shale gas consultation launched

Last week the government unveiled controversial new plans for a proposed tax regime for shale gas allowances. A government consultation is now open on the proposed tax regime which the government hopes will encourage nearly £14 billion of investment in shale gas. The new allowance will reduce the tax on a portion of a company’s production […]Read More

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