Changes To Furlough – What You Need To Know
Last Friday, Chancellor Rishi Sunak led the Daily Coronavirus briefing, and revealed that the Government’s Job Retention Scheme, also know as furlough would be changing in the coming weeks and months. So what does this mean? Wednesday 10th June 2020, will be the last day that employers can place employees on furlough, for the first time. […]
Increased Demand In Rental Market Attributed To Lockdown
Property website Rightmove has released figures stating that the demand for lettings has increased by 22% compared to last year, despite the corona virus and lockdown. The demand for rentals has increased at a faster rate than those looking to buy a property. This need for ‘immediate housing’ has been caused by what experts believe […]
Land Registry Faces Up To Digital Identity Challenge
The Land Registry is facing up the the digital identity challenge which has become more pronounced during the recent lockdown and continuing aftermath of the coronavirus pandemic. In a blog released by HM Land Registry’s Deputy Chief Executive Mike Harlow, it was revealed the conveyancing processes “do not feel very 21st century” and have been […]
Solicitor Pair Exposed In Trying To Sell Property Without Owner’s Knowledge
A pair of solicitors from a Loughborough firm, concocted a plot to sell properties worth an estimate £3 million without the owner’s consent or knowledge. Hashok Parmar and Syed Gous Ali from Sterling Law Solicitors operated what is known as ‘property take-over-fraud’, where they fraudulently changed the names on ownership deeds and titles. Suspicions were […]
Firm Has Real Prospect Of Defence Despite ‘Disastrous Consequences’ Of Action
A Liverpool firm has convinced a judge they have a real prospect of a defence in a summary judgment for exacerbated costs, despite the ‘disastrous consequences’ for the claimant following their breach. Liverpool firm, EAD Solicitors is now in administration, however following the purchase of a property in October 2016, from 199 Molyneux Road Ltd, […]
Land Registry Delay Could Impact Conveyancers
Read the latest offering from the ‘Diary of the High Street Conveyancer‘ Monday 1 June 2020 I was somewhat alarmed to read this morning that out of the approximate 58,000 applications that have been lodged with the Land Registry since March, only 440 have been completed. That is a significant backlog of work. I have […]
April Exchanges Were 68% Compared To 2019 Figures
Information shared by TwentyCi comparing the activity levels in the first five months of 2020 to the same period last year, has thrown up some interesting results. Since the re-opening of the English property market on 13th May 2020, the latest weekly data seen by TwentyCi suggests that the market is now operating at 75% […]
Property Fraud Threat Remains
The reality of the English property market re-opening meant that many in the sector breathed a huge sigh of relief, as once again livelihoods and the economy could begin to kick start itself and begin the recovery following the doldrums of lockdown and the Covid-19 pandemic. However, it is worth reminding everyone involved in the […]
Virgin Money Resumes Buy To Let Deals With An 80% LTV
Due to the pandemic and the inability to conduct valuations, Virgin Money announced in April that they were suspending any new mortgage applications and capping any buy-to-let remortgages at a 55% LTV. However, the lender has relaunched by not only removing their temporary limits, but also returning with standard buy-to-let deals at up to 80% […]
Sales In Offer Stage Overtake Number In Exchange And Completion
Property technology company Coadjute reports a significant rise in offers in the last week, alongside rises in registrations, sales enquires and viewings booked with estate agents. All point toward the continuing upwards trend in the property market, now rapidly filtering through to offer stage. An industry group formed by Coadjute – the Blockchain leader in […]
Money Moves Faster Than People
Read the latest offering from the ‘Diary of the High Street Conveyancer‘ Friday 29th May 2020 So I had another chain complete today – all done by half past eleven – well, my part was done by then; sale completed, mortgage repaid, property bought. As I always say to my clients, the money moves far […]
Leasehold Solutions Calls On Government to Freeze Freeholders’ Rights
The Leasehold Solutions Group has called for immediate action from the Government to suspend freeholders’ rights to collect ground rents and service charges in the face of the ongoing COVID-19 pandemic and economic lockdown. Louie Burns, Managing Director of The Leasehold Group of Companies, said: “The last few months have caused unprecedented disruption to societies and economies across the world […]
OneSearch Direct Celebrates 10th Birthday of Drainage & Water Report
OneSearch Direct, the largest local search data company in the UK, is celebrating the 10th anniversary of OneSearch DW, its proprietary Drainage & Water search, having surpassed over a quarter of a million sales. To mark this milestone, OneSearch is giving away 10 antique washed willow luxury picnic hampers in a special prize draw. Launched […]
Property Market Continues To Enjoy Busy Days
The property market continues to work it’s way through the corona virus pandemic, continuing to make steps on the road to recovery. Based on data shared by Twenty7Tec covering the week ending 30th May, it revealed that as a result of the bank holiday the week had four of the five busiest days since lockdown […]
Property Market Bounce Back Should Be Treated With Caution
Since the lockdown in March, the property market has seen dramatic changes; Rightmove reported a fall of 40% in visitors at the time of the lockdown, estate agents having to offer virtual tours and house sale dropping by more than half in April, compared to March. However, following the relaxation in restrictions, allowing property viewings […]
Conveyancers Offered Free SDLT Support
Property market shows healthy bounce-back as lockdown measures are slowly eased Purchase mortgage enquiries at 40% of pre-Covid-19 levels as of mid-May Leading provider of conveyancing searches for residential and commercial properties is offering free SDLT service to support as the market improves After months with a paused property market, things appear to be bouncing […]
