Property Transactions Recover Significantly In August
Despite residential property transactions falling by 0.4% on a non-seasonally adjusted basis in the year to August when compared to 2018’s figures, UK property transactions for August suggest a huge recovery from an unusually quiet July. The provisional seasonally adjusted residential transactions for August indicate 99,890 transactions were completed in August. Whilst this figure represented […]
Dishonest Borrowers Increase Mortgage Fraud By 5% In 2019
Mortgage fraud has increased by 5% in the opening half of 2019 when compared with the second half of 2018 because of dishonest borrowers lying on their mortgage applications. According to figures from Cifas, the UK’s leading fraud prevention service, 13% of all adults in the UK believe it is ‘reasonable’ to manipulate household income […]
The Effect Of The Rising UK Flood Risk On Commercial Property
As a society, we tend to quickly forget past events such as weather-related disasters, rather than heed lessons for the future. A timely reminder was the recent flooding in the North Yorkshire Dales in July 2019, during which torrential rain caused 100 homes and several businesses to be underwater. According to accounts, the weather was […]
Applications To HM Land Registry Fall 10% Between July And August
Applications to change or query the land register decreased by over 100,000 between July and August. According to HM Land Registry (HMLR), more than 1,706,820 applications were made in August. The recent applications fall in line with the UK’s wait and see approach as many buyers and sellers delay making changes to their homes or […]
8.4 Million People Affected By Housing Crisis In England Alone
8.4 million people are in need of a suitable home in England alone. According to research into the housing crisis in England, the National Housing Federation has found that one in every seven people are directly affected by the current and widening crisis. The research recommends an immediate Governmental cash injection of £12.8 billion over […]
Long-Term Empty Residential Dwellings Increase By 5.3% This Year
The number of empty homes in the UK have increased by 5.3% in the past year, tipping the scales at more than 160,000 long-term empty dwellings. According to the research by Action on Empty Homes and the Nationwide Building Society, 10,983 additional homes were left empty for longer than six months in the past year. […]
Government Falling Short Of Social Housing Replacement Targets
The Governments are replacing little over a third of the social homes they sell off through the Right to Buy scheme. Governmental Right to Buy sales and affordable home starts and acquisitions are declining as a struggling market continues to impact those with the greatest housing need. According to the ‘Right to Buy Sales in […]
Two Thirds Of CLC Firms Deemed Non-Compliant Following Inspections
Of the 51 on site inspections completed by the Council for Licensed Conveyancers (CLC) in 2019, 34 have been deemed non-compliant. 49 of the inspections were considered routine with two inspections targeted specifically at particular firms. The statistics will be difficult reading for many CLC regulated firms considering only 29% or 15 firms were generally […]
Anxious Buyers And Sellers Delay Home Moves Until After Brexit
Reluctant buyers and sellers are getting ready to pounce on the property market following a definitive Brexit outcome according to a recent survey. 59% of potential buyers and sellers have placed their property purchases on hold until after this year’s Autumn Budget at the very earliest, with many waiting until the Brexit dust settles, according […]
LFS Conveyancing Awards 2019 Winners Announced
The LFS Conveyancing Awards, sponsored by Groundsure, recognises the best in class within the conveyancing world and over 360 people attended the 8th annual event held at the Vox, Birmingham. The awards, which were hosted by Jules Breach, BT Sport Presenter, did not disappoint, offering a vibrant and enthusiastic atmosphere throughout the evening. Richard Mathias, […]
Phishing Attempts Targeting Law Firms And Clients Rife
Over two thirds of the UK public believe they have been targeted by phishing emails in the last six months. According to recent research, compiled by Bongate IT, 68% of UK inboxes have been inundated with unscrupulous email phishing attempts. Furthermore, the survey, which questioned individuals from around the UK, found that almost a quarter […]
Are You Doing Too Many File Reviews?
We are often asked the question, “How many property files should we be reviewing?”, and when we ask what the firm is currently doing get met with, “three files per quarter per fee earner, including two purchase, one sale and one remortgage (if undertaken), or “one file per month per fee earner”. So, where did […]
First-Time Buyers Lack Clear Understanding Of Buying Process
First-time buyers (FTB) stand accused of being extremely naive about the intricacies and even obvious elements involved with the home buying and selling process. According to over 2,000 non-home owning respondents, questioned by lenders Santander, 57% of prospective FTBs believe they will be able to borrow up to ten times the single or household income. […]
FTB And Homemover Mortgages Increase Annually To July
First-time buyer (FTB) mortgages and home mover mortgages rise year on year whilst remortgages fall in the year to July. According to the ‘Mortgage Trends Update’ by UK Finance, FTBs took out 32,640 new mortgages in July. This figure represented a 5.8% increase when compared to the same month a year earlier. Similarly, home mover […]
BLJ Credit Digitisation As Reason For Record Business Year
Bell Lamb and Joynson Solicitors, based in Liverpool, Runcorn and Warrington are crediting the company’s shift towards a digital approach for it’s most prolific business year on record in its almost 200 year history. The North West legal firm, established in 1821, has seen out its latest business year with a total of 16 new […]
Thames Water Property Searches Commercial Conveyancing CPD
To assist legal practitioners in taking advantage of the continued resilience of the commercial property sector and grow their practice and reputation for excellence in this area, Thames Water Property Searches are proud to present a free interactive and informative legal CPD commercial property-based event. Throughout the day, you will hear essential information and updates by […]
LFS Conference 2019: Cyber Threats, Contracting Economy And AML Compliance Issues Discussed
The LFS Conveyancing Conference 2019 Round Up This year’s must-see event for all conveyancers, the Law Firm Services Conveyancing Conference and Awards (LFS) certainly did not disappoint with an array of industry speakers refreshing existing knowledge and enlightening the audience, whilst also collaborating and conversing with professionals in the conveyancing world. Taking place at the […]
FTB Housing Deposits Reach Record Highs
First-time buyers (FTB) have almost reached their highest point since the peak point prior to the housing market crash of 2006. According to data generated by Halifax and the Lloyds Banking Group, more than 170,000 first-time buyers have bought property in 2019. This figure is just short of the peak number of first-time buyer completions […]
Homeowners Snub Downsizing In Favour Of Releasing Equity
Almost a quarter of home owners are planning to use the equity in their homes to fund their care costs in later life. 24% of unretired home owners would prefer to use the equity in their homes than deplete their pension pot when looking to fund the costs associated with old age. The research also […]
Network Rail Entangled By Japanese Knotweed Complaints
A huge number of home owners whose homes border railway tracks have complained to Network Rail for failing to control the proliferation and spread of Japanese Knotweed. Since 2011, Network Rail has been bombarded with 11,000 complaints from disgruntled homeowners, anxious that the widespread weed is not being dealt with effectively enough on the state-owned […]
