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 […]
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 […]
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, […]
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. […]
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 […]
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 […]
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 […]
Land Registry announcement on Stamp Duty requirements
The Land Registry has announced changes to the Stamp Duty Land Tax arrangements for sub-sales. The Finance Act 2013 has led to changes to the regime for claiming relief for sub-sale transactions entered into on or after 17 July 2013. Different requirements apply depending on whether two transfers are involved (i.e. A to B, then […]
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. […]
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 […]
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 […]
How diverse is your workforce? You need to know. And so does the SRA.
Sitting at our desks on what has been the hottest week for seven years it is difficult to think that in a blink of an eye it will be winter. But as sure as night follows day, so winter will follow summer and autumn. Why is this relevant to compliance I hear you say? Before […]
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 […]
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 […]
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 […]
Failure to use Lawyer Checker cited in negligence claim
The Sunday Times this weekend has reported that in June first time buyers Mohamed and Aishah Noorgat have lost £175,000 to criminals posing as a legitimate law firm. The couple’s conveyancers, Action Conveyancing also known as ARC or Abode Solicitors, thought they were dealing with a legitimate solicitors practice M A Manning and Sons which […]
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 […]
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 […]
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 […]
Don’t Get Trapped by Bogus Lawyers and so much more……………………
Three months ago ETSOS added the Lawyer Checker portfolio to its platform — thereby advocating its use. This enables the conveyancer to make further checks as to the true identity of the other firm’s solicitors to avoid transferring client money to bogus solicitors.This service is already available to ETSOS clients and new clients can get […]
