Month: February 2020

Conveyancing

CMA Preparing Legal Enforcement Action Against Leasehold Developers

The Competition Markets Authority (CMA) are set to ‘launch enforcement action’ against house builders and developers who mis-sold leasehold properties, trapping buyers in unfair contracts and unattractive or unsaleable properties. Based on the evidence uncovered, the CMA are now completing the necessary legal preparations before committing to legal enforcement procedures against developers it feels have […]Read More

Conveyancing

Government Urged To Address Housing Energy Efficiency

A leading group of construction industry bodies has urged the government to ensure that legislation is in place to address the environmental impact of the current housing stock so that it meets sustainability goals. The group, including Builders Merchants Federation, Federation of Master Builders and Building Alliance, highlighted the fact that current housing stock is […]Read More

Property Market

Housing Crisis Impacting On Family Life

A housing crisis is causing major stress and disruption in family life, according to an Affordable Housing Commission survey. The commission’s findings reveal that housing stress, due to a shortage of homes, is potentially stopping nearly 2 million people from having children and attributing to mental health problems. The national YouGov poll, which took place […]Read More

Conveyancing

Conveyancing Information Executive Launches

A new trade body designed to raise data quality and content standards in property searches used in the conveyancing process has officially launched. The Conveyancing Information Executive (CIE), founded by Groundsure, Landmark Legal, SearchFlow and Geodesys, has released a new set of Standards and Code of Practice to maintain and improve the quality of information […]Read More

Conveyancing

January Property Sector Boasts A Third More Buyers

Spring is on the horizon and house hunters are awakening from their winter hibernation with almost a third more prospective buyers flooding the property market. The number of potential buyers registered per estate agency branch has increased by 29 per cent between January 2019 and January 2020, rising from 297 house hunters per branch to […]Read More

Conveyancing

Digital Remortgaged Deeds Surpass 7,000

The 7,000th remortgage deed was signed and registered digitally at the start of February. In October 2019, HM Land Registry (HMLR) announced the signing of the 1,000th digital remortgage. However, since this time conveyancers and lenders alike are increasingly looking to embrace digital remortgaging options. The speed and growth of the technology has prompted HMLR […]Read More

Conveyancing

‘Big Thinking’ Housing Spring Budget Required

The government’s pledge to build 1 million new homes over the next five years has been accused of lacking ambition. The Intermediary Lenders Association (IMLA) has released a set of suggested priorities the government should consider in order to deliver a ‘big thinking’ Spring Budget which would help fix the ‘broken housing market’. IMLA referred […]Read More

Conveyancing

New Homes Ombudsman To End Shoddy Developments

The government are ploughing ahead with plans to introduce a New Homes Ombudsman. The government statement claimed the Housing Secretary is set to ‘clamp down on shoddy housebuilders’ by offering the new independent ombudsman increased powers to protect homeowners. Following concerns about redress and the time it takes developers to rectify issues if homeowners of […]Read More

Conveyancing

Housing Sector Crisis Solved By 2035

Estimates suggest that the current housing crisis gap will not be closed until 2035, based on the current speed of new build completions. The BBC has produced a briefing paper on the state of the housing sector, claiming that the current crisis is set to take 15 years to solve, and that is if the […]Read More

Conveyancing

January Mortgage Approvals Fall Slightly

First-time buyer activity increased in January whilst mortgage approvals fell slightly in the opening month of 2020. Small deposit borrowers, usually made up of FTBs gaining their first rung on the ladder by acquiring lower priced property, increased from 25.5 per cent in December to 26.7 per cent in January. This key demographic had 17,623 […]Read More

Conveyancing

500,000 Trapped In Unsafe Homes

Over half a million people could still be living in unsafe buildings clad in flammable materials. The analysis of apartment buildings by The Association of Residential Managing Agents (ARMA), found that the number of apartment blocks that had previously passed building control, are now housing more than 500,000 people. As more dangerous materials are added […]Read More

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