Technology Gets Buyers To Exchange Of Contracts In Just 7 Days!
Tech innovator Yourkeys has partnered with MBU Capital, Dezrez Legal and case management platform provider, Convey Choice, to make history in the sale of new build homes. This partnership has accelerated the conveyancing process to regularly achieve exchange of contracts in just 7 days, for MBU’s Park Place Development in Stevenage. Yourkeys hit the headlines […]
Bank Of Mum and Dad Could Be Impacted By IHT Proposals
Suggested changes to UK inheritance tax could have a potential impact on the property sector. Earlier this month, an All-Party Parliamentary Group (APPG) encouraged the Government to consider making serious reforms to inheritance tax (IHT) in order to reduce the burden for the increasing number of middle-class families being dragged into the inheritance tax threshold. […]
What Should An IT Department Do In Relation To Cyber Security?
UK law firms are now starting to realise that responsibility for cyber security doesn’t just lie within the IT team, and that technical controls alone can’t protect a business from today’s attacks. I often see the phrase ‘cyber security is a people issue not an IT issue’. It’s true that this needs to be a […]
Housing Stock Returns As Confidence Improves
New instructions, housing supply, buyer enquiries and agreed sales all increased in January as the UK enjoys a post-Brexit boom in activity. Despite supply falling to historically low levels at the end of 2019, with fewer than 43 properties per estate agency branch, the RICS UK Residential Survey for January suggests that new instructions are […]
Law Society Remind Firms Of Solicitor Indemnity Fund Closure
The Law Society has reminded the legal sector that the Solicitors Indemnity Fund (SIF) will close to new claims from 30 September 2020. The fund, which currently provides ongoing professional indemnity insurance (PII) to closed firms from the end of their mandatory six-year run off period, will no longer cover firms which closed after 30 […]
Ex Solicitor Found Guilty Of Forgery And Fraud
Having been struck off the roll of solicitors last year for misconduct spanning over five years, Martin Burnett has now pleaded guilty to allegations of forgery and fraud. The offences were committed in May 2011 and relate to a conveyancing transaction he was instructed to carry out. In 2007, a Cumbrian couple, Barbara and Lawrence […]
Christopher Pincher Appointed New Housing Minister
Boris Johnson’s Government has appointed Christopher Pincher to the position as Housing Minister. Pincher is currently the MP for Tamworth, but is familiar with ministerial roles having worked as the Minister of State for Europe and the Americas. Pincher has also undertaken the role of deputy chief whip before accepting the position of housing minister. […]
Estate Agents Struggle With AML Compliance
Over 66% of UK estate agents are failing to comply with HM Revenue and Custom’s (HMRC) anti-money laundering (AML) expectations or the EU’s fifth anti-money laundering directive (5AMLD). According to recent findings by conveyancing firm iamproperty, estate agents are struggling to adequately understand their obligations when it comes to cracking down on money laundering in […]
Warnings For Landlords Who May Fall Victim To Tax Overhauls
Warnings have been issued by a tax specialist to homeowners who rent out their second property. Gary Priest, a partner at MFG Solicitors, has warned that property owners must prepare ahead of a ‘game-changing’ second property tax. From April, the Government’s overhaul of the Private Residential Relief may mean that many who own more than […]
Magic Circle Law Firm Reveals High Retention In Qualifying Trainees
Freshfields Bruckhaus Deringer’s head count keeps growing as they retain nearly all of their qualifying trainees for spring 2020. Founded back in 1743, the firm has confirmed it will retain 90 per cent of its newly qualified talent by making offers to 36 out its 39 qualifiers. Legal Cheek said that “Freshfields became the first […]
Older Homeowners Require Stamp Duty Relief
In their quest to stay in their much-loved homes, 80 per cent of over 55s chose an equity release mortgage. According to new research from Standard Life and Age Partnership, this high percentage of over 55s opted for equity release so they did not have to downsize. Another reason for not downsizing was the costs […]
Will First Homes Usurp Affordable Housing Funding?
A leading consumer group is calling for the Government to ‘avoid unintended consequences’ of their recent plans to offer a 30% discount on new homes for local first-time buyers. The Homeowners Alliance (HOA) believes further research and development is needed to avoid ‘First Home Prisoners’ and reductions in investment to other worthy affordable housing schemes. […]
Esther McVey Latest Victim Of Housing Ministerial Hotseat
We say goodbye to another housing minister following the sacking of Esther McVey who loses her position in a cabinet reshuffle. It was hoped that the appointment of Robert Jenrick as Housing Secretary and Esther McVey as Housing Minister in July 2019 would provide some much-needed stability in the roles. Unfortunately, the revolving door continues […]
CLC Consults On New Guidance On Client Funds And Aged Balances
Draft guidance on how firms regulated by the Council for Licensed Conveyancers (CLC) can use third-party managed accounts (TPMAs) – instead of holding client money themselves – has been published today by the regulator. The CLC is consulting on proposed guidance which follows forthcoming revisions to the CLC’s Accounts Code. The guidance is for the […]
Scottish Lawyer Struck Off Roll
Alistair Bowie, aged 69, has been struck off the solicitors’ roll after being found guilty of ‘professional misconduct’ over his failure to act in his client’s best interest. Mr Bowie, acted on behalf of a 70-year-old client, however, he transferred the title from the client’s home over to an Edwin McLaren. It transpired later on […]
Third Of New Home Builds Delayed
Over a third of new homes are not completed on time. Despite buyers being pressured into tight completion deadlines, only 64% of homes were built on time, according to a New Homes Review ‘NHR Annual Report 2019.’ Whilst this may seem like an unreasonable number of building delays, the figure has improved from 59% of […]
Please Don’t Leave A Message After The Tone
Claire Smith, Head of Business Development at Moneypenny explains why firms should leave voicemail in the last decade and make 2020 the year to invest in a more modern solution. Voicemail has been a firm fixture in both our personal and professional lives since the early 80s. It’s something that the majority of us will […]
Landmark Information Response to CLC Discussion Paper
Landmark Information responds to the Council for Licensed Conveyancers’ ‘Conveyancing 2030’ Discussion Paper Landmark Information – the property, land and environmental data specialist – has welcomed the publication of the Council for Licensed Conveyancers (CLC) new discussion paper, ‘Conveyancing 2030’. The paper encourages an open dialogue regarding the future of the legal property transaction process […]
Reservation Agreements – The Conveyancer’s View
As a conveyancing solicitor with over 25 years’ experience, I think I can say with some confidence that conveyancers do not like reservation agreements. Despite this, the government has indicated that it will press ahead with a reservation agreement trial in Spring 2020. In its simplest form, a reservation agreement allows a buyer to reserve […]
Search Acumen comments On ONS Housebuilding Stats, Q3 2019
Andy Sommerville, Director at Search Acumen, comments: “No one could accuse the nation’s housebuilders of giving us too much of a good thing. Right across the board – from the private sector to housing associations, and local authorities – building figures have plateaued. Except for a brief spike in late 2018, completion numbers have not […]
