Energy Efficient Retrofits Dangerously Increasing Indoor Radon Levels
Recent research into the amount of indoor radon concentrations in our homes suggests that the planet’s need to create more energy efficient living is also leading to increased radon related cancer deaths. UK Radon Awareness week is seeking to increase the notoriety of this relatively unknown and significant danger lurking within our homes. According to […]
Improving Client Services Through Innovative Technology
Anti-money laundering has been a hot topic in the news recently. Whilst compliance can be a huge factor for many firms, some technological offerings are also creating an additional benefit of improving efficiency and saving both clients and conveyancers precious time. One such offering is being provided by Lawyer Checker after the law firm protection […]
Active Buyers And Sellers Looking For Increased SDLT Relief
Over half of home buyers and sellers believe Boris Johnson does not consider the housing sector to be a Governmental priority as he heads out on his campaign to win the December 12th election. Overall 55% of active buyers and sellers believe improvements to the property market will be swept aside in favour of more politically palatable alternatives, […]
Government Announce Infrastructure Funding Increases
A £250 million investment into vital infrastructure has been announced. The investment, announced by the Chancellor, will attempt to unlock over 20,000 homes nationwide. The money will be used to pay for schools, roads and public transport in areas of the country where homes are needed and in places people want to live. The Government […]
Conveyancers Should Be Vigilant To Third Party Cloning
Fraudsters have targeted the Financial Conduct Authority (FCA) by cloning one of their authorised and approved firms, GE Capital Limited. The FCA said the bogus cloned firm has been trying to convince people that they work for a genuine approved firm. Those firms and individuals who offer financial services in the UK have to be […]
Search Acumen Comments On HM Land Registry Complex Commercial Transactions And Infrastructure Development Launch
Caroline Robinson, Commercial Real Estate Business Development Manager at Search Acumen, comments: “Managing due diligence and planning around complex commercial real estate transactions can be fraught with risk. Relying on paper trails which take months to collate mean that problems can be overlooked, and issues not identified until a development is in process. This can […]
Halloween’s Brexit Deadline Becomes An Extended Nightmare?
The autumnal backdrop has been developing for weeks with luscious greens turning to fiery shades of red and orange. Much like the fiery natural scenes we experience at this time of year, the UK’s political scene has heated up in recent months and despite the initial 31st October deadline – Halloween, the UK is still […]
Only 6% of Law Firms Protect Their Money Transfers
Law firms are failing in their efforts to tackle the rising risk of cyber crime. Even with £millions continuing to be fraudulently redirected, with the associated reputational impact and knock on effect on professional indemnity insurance premiums, most law firms have not implemented even the most basic cyber security measures. The research has been undertaken […]
Legal Tech App Aims To Improve Conveyancing Efficiency
Legal technology specialists have created an app which accurately assesses the conveyancing readiness of a property. An app which Teal legal hope will create a smoother conveyancing process consumers will begin to enjoy. The product will improve their current offering, Home Owners Passport (HOP), by digitally transferring HM Land Registry data in addition to other […]
Pre Brexit Property Rush Causes 20% Stamp Duty Increase In Q3
Property transactions have increased by 14% between the second and third quarters of 2019. The 268,400 transactions in the second quarter of the year were dwarfed by the 305,100 transactions completed between June and September. This was obviously good news for Government coffers with Stamp Duty Land Tax contributions increasing by a fifth and surpassing […]
Labour Announce Radical Home Efficiency Policies
The Labour Party has announced radical plans to ensure all new build homes are ‘zero carbon’ and all existing homes are upgraded to become more energy efficient by 2022. This vision would come to fruition by implementing increased efficiency standards, use low carbon or renewable energy sources, triple-glaze windows, avoid fossil fuel heating systems as […]
SRA Order Cyber Crime Thematic Review And Increase AML Enforcement
Following the news that the average loss to a law firm suffering a fraudulent attack last year was over £173,000, the Solicitors Regulation Authority (SRA) is conducting a thematic review into the impact of cyber crime in the legal sector next year. According to data revealed at this year’s COLP/COFA Compliance Conference, 23 law firms […]
Modern Method Of Auction Popular With Motivated Vendors
Modern Method of Auction (MMoA) is becoming popular across the UK as a more buyer friendly option, especially with motivated sellers who want to achieve a quick sale. North East based, iamsold is aiming to revolutionise the way properties are bought and sold across the UK, boasting over 16,500 residential property transactions since it launched. […]
Future Climate Info Launches New Planning Report With Intelligent Capture Technology
Innovative environmental data provider delivers essential new conveyancing planning search with unique wider investigation features. Future Climate Info (FCI) has today launched a range of planning search data products for residential conveyancing professionals and search resellers. Planning reports have been a feature of conveyancing searches for several years but have often been viewed with some […]
British Majority Favour New Build Construction In Local Communities
Levels of people in support of more homes being built in their local area has plateaued in 2018. 57% of the population are looking for more new homes being built in their local area, according to ‘Public attitudes to house building Findings from the 2018 British Social Attitudes Survey’ conducted by the Ministry of Housing, […]
Digital Mortgage Deeds Hit 1,000: Digital Future Or Harbinger Of Risk?
![At the start of October, the 1,000th digital mortgage deed was registered with HM Land Registry (HMLR) with many heralding the accolade as promoting the property sector’s digital future. HMLR claim that the digital process, which is currently restricted to remortgaging, is speeding up the process, making it a lot more convenient and efficient for consumers. Some customers have boasted 3-day turnaround times on their remortgaging completions, shattering the average 18 days it takes to finalize the paper process. In part, reduced delays are avoided because paperwork trails are minimized with the portal system able to track the journey, highlighting any outstanding work and reminding key stakeholders of their obligations in the process. Furthermore, the online process allows for work to be completed at any point in the day and is not slowed by the postal service; offering instantaneous communication for all stakeholders. However, some people view this service as dangerous and a potential harbinger of online threats and increased property fraud with some viewing the system as a ‘fraudsters charter,’ offering information to potential criminals. In fact, recent data suggests HMLR are becoming a lot more adept at preventing fraudulent applications before they are completing. During the financial year 2017/18, 25 fraudulent applications were stopped, protecting property worth £15,684,000. However, between 2018/19, 47 properties were saved from criminal clutches by HMLR, according to recent freedom of information data. The number of indemnity claims made for fraud and forgery have also declined from 26 in 2017/18 to 18 in 2018/19, with payments also declining from £2.6 million to £0.4 million. Others also suggest it could be used to the detriment of vulnerable homeowners or occupiers, citing the Royal Bank of Scotland PLC V Etridge (No. 2) [2002] UKHL 44 case which found eight cases of undue influence between married couples where homeowners mortgaged their properties to secure loans used by the husbands to help support their businesses. The court found that lenders are obliged to make sure all parties obtain independent legal advice if the remortgage or loan will only benefit one person and concerns the matrimonial home with some anxious that the digital system could be manipulated to circumvent past laws. As HMLR look to roll out the digital mortgage process to all areas of mortgaging in the near-future, insurances of a robust safeguarding protocol is vital to protect all stakeholders from property fraud. Peter Frost, Chief Operating Officer at Coventry Building Society, said: “We’re delighted that this industry leading initiative to speed up property transactions has reached such a fantastic milestone. “Feedback from remortgagors has been very positive, with customers finding the process simple, quick and secure. “We’re proud to have worked with HM Land Registry and Enact Conveyancing on this initiative and are excited about the potential for it to be extended to purchases in the future.” Is the digital process vital to ensuring a customer-centric, efficient and swift mortgage process? Or, does it present a heightened level of cyber risk?](https://todaysconveyancer.co.uk/wp-content/uploads/2019/10/Digitisation-Of-The-Mortgage-Process-Increasingly-Appealing-To-Consumer-2.jpg)
At the start of October, the 1,000th digital mortgage deed was registered with HM Land Registry (HMLR) with many heralding the accolade as promoting the property sector’s imminent digital future. HMLR claim that the digital process, which is currently restricted to remortgaging, is speeding up the process, making it a lot more convenient and efficient […]
Less Than 6 Months Until PPR And Lettings Relief Changes Take Effect
Just 6 months to go until another unpopular tax change, in this case concerning amendments to principal private residents (PPR) relief from capital gains tax (CGT), comes into force. Following the 2018 Autumn Budget, the Government looked to shake up the relief offered to private residents and landlords concerning final period exemptions and lettings relief. […]
Better Support Needed For Conveyancers Undergoing Fertility Treatment
In the wake of National Fertility Week, a recent survey revealed that just two in five UK employees said they felt supported by their managers when experiencing fertility problems or undergoing fertility treatment. In the poll of 4,000 UK employees, of approximately 1,000 staff who had endured fertility issues, 51% said they needed to take […]
