Month: August 2013

Conveyancing

Co-op head further into the red

The first half results for Co-operative Legal Services show a £3.4m loss in the first half of 2013. Losses were put down to the “start-up nature of the business”, however the figure is in comparison to £700,000 in profit for the same period in 2012. In March 2012 Co-op Legal Services became one of the […]Read More

Conveyancing

House prices up 3.5% from last year

According to the Nationwide House Price Index house prices increased by 0.6% in August, a 3.5% from the same time last year. August was a slightly flattering month for comparison, however the three month on three month measure of house prices, which is a better measure of the underlying trend, rose by 1.4%, its strongest […]Read More

Conveyancing

Estate agent insolvencies up 57%

Over the last 12 months to June the number of estate agent insolvencies increased 57%, from 49 to 77 firms. According to research from accountancy firm Wilkins Kennedy LLP the increasing number of estate agents becoming insolvent is due to prolonged stagnation in the property market. Wilkins Kennedy says that the need for High Street […]Read More

Conveyancing

Law Society launches PII cover offering

The Law Society has unveiled Chancery Pii, a joint venture between the Society and Miller Insurance Services LLP, which will provide PII cover for firms with between one and four partners. Chancery Pii will provide direct access to insurers with at least A- (Standard & Poor’s) or equivalent financial security rating. The Law Society believes […]Read More

Conveyancing

First-time buyers strengthen London market

11,200 loans for house purchase were granted to first-time buyers in London in the second quarter of 2013, the largest quarterly figure since the end of 2007. According to new data from the CML, these figures helped to further strengthen a positive quarter for the London housing market. The 11,200 loans marked an increase of […]Read More

Conveyancing

SLC announce conference details

The Society of Licensed Conveyancers (SLC) has announced their annual conveyancing conference will take place on the 20th November at the Riverside Centre in Derby. It is the third year the conference has run, offering members of the conveyancing profession a day of topical presentations and discussions. The conference will run between 9:30 am and […]Read More

Conveyancing

Government simplify planning guidance

The government has launched a new online resource which will house all national planning practice guidance. Planning Minister Nick Boles announced yesterday that the new system would add simplicity and clarity to the planning process. At the moment technical guidance is catalogued in 230 separate documents across 7,000 pages. The new tool is now open […]Read More

Conveyancing

Would you like to stand out from your competition?

The quest to find the best conveyancers in the UK starts here… Are you looking to increase your profit margin? Would you like to work closer with Estate Agents and increase the level of referrals?  Would you like to win new clients and reassure them with a third party endorsement giving new credibility to your […]Read More

Conveyancing

Gross mortgage lending hits £16.6 billion

Total gross mortgage lending in July increased to £16.6 billion, up 12% from £14.8 billion in June. The figures from the Council of Mortgage Lenders showed an increase of 29% from the total of £12.9 billion at the same time last year. The figure is the highest monthly estimate for gross lending since October 2008 […]Read More

Conveyancing

CML respond to Scottish Sep Rep consultation

The Law Society of Scotland (LSS) released the results from their separate representation consultation last week. The consultation generated 279 responses with 49% in favour and 51% against the proposed rule change. The results clearly showed opinion was divided on whether there should be a change to the rules in Scotland making separate legal representation […]Read More

Conveyancing

Right to Buy uptake increases five fold

The latest figures from the Department for Communities and Local Government show that 2,149 properties were sold between April and June this year. Compared to the 443 sold during the same period in 2012. The total number of council homes sold under the reinvigorated Right to Buy scheme is now over 8,000. The sales have […]Read More

Conveyancing

Norman Lamont concerned about buy-to-let

Former chancellor Lord Lamont has warned ministers to be wary of the growth in the buy-to-let market. Speaking to The Observer he expressed concern that the bubble of buy-to-let could collapse causing widespread problems. His concern is around the impact that an inevitable rise in interest rates will have on lenders and buyers. Lord Lamont, […]Read More

Conveyancing

Remortgaging lending up nearly 13%

In July remortgage lending rose 12.7% from £3.7bn to £4.2bn, the highest gross lending figure for this time of year since 2008. Remortgaging now accounts for 25% of the total market according to the latest figures from LMS. Consumers who are remortgaging now take out an average of £20,425 in extra equity. The figures showed […]Read More

Conveyancing

Move with Us produce property hotspot map

A new buy-to-let property hotspot heat-map will give investors insight into which areas in England and Wales offer the best rental yields. The Move with Us produced map shows that whilst prices continue to grow in London, large areas of Greater London currently return an average yield of less than 4%. The Olympics seems to […]Read More

Conveyancing

New strategic partnership for Legal Eye

David Thorpe, Director at Financial Eye commented “We have developed a new product to assist COFAs deal with the burden of regulatory requirements. COFA plus incorporates all of the recording and reporting elements of the SRA Handbook (Accounts Rules), and a lot more. Given the expertise Legal Eye already has in this area it was […]Read More

Conveyancing

Searches UK achieves Legal Eye Quality Standard for 2nd year

Searches UK, one of the leading providers of searches to UK conveyancing practitioners, knew that its business deserved recognition for its commitment towards its risk and compliance obligations, which is why in 2011 they approached Legal Eye Limited, respected industry leaders specialising in best practice, risk management and compliance services to the legal services market, […]Read More

Conveyancing

Market confidence increases

According to the latest National Housing Market Monitor from haart confidence has returned. However, the housing market is constrained by a shortage in supply. Whilst total new buyers have increased by 27.9% annually, new properties for sale have decreased 4.4%, constraining actual sales to a 3.5% annual increase. A large percentage of these were first time […]Read More

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