Strong pipeline predicted for conveyancers into the Autumn
Conveyancing quote volumes peaked in Spring at more than double the usual level but dropped by 18% in June and a further 21% in July to reach more normal levels according to figures produced by reallymoving. But the figures indicate that the property market will remain resilient throughout the Autumn according to CEO Rob Houghton. Reallymoving […]
Fewer over 55’s plan to downsize
More over-55s are hanging on to their homes removing millions of homes from potential circulation and adding to the current housing shortage according to a report released by Legal and General. Less than 25% of over 55 homeowners (around 2.9m) intend to downsize in the near future, which is fewer than indicated their intentions to […]
HMLR Practice Guide updates
HM Land Registry has released details of changes to the following Practice Guides in its latest update. Charities: advice for applications sent to HM Land Registry (PG14) This guide is aimed at conveyancers and legal advisers to charities and to those acquiring land from charities. Change made: Section 6.5 has been amended to confirm HM […]
SDLT holiday may not be responsible for property market surge
Influential think tank the Resolution Foundation has suggested that the temporary stamp-duty was not the “overwhelming driver” behind the surge in property market activity and that underlying factors instead responsible for driving house prices up, indicating that the stamp-duty holiday may have been a waste of taxpayers money. Data from the Resolution Foundation’s quarterly Housing […]
Mortgage borrowing soars as half of remortgagers increase their loan
Homeowners across the UK are now borrowing more money from mortgage lenders than ever before according to new figures released this week. According to mortgage broker Mojo Mortgages, the average amount of money being applied for by existing homeowners has increased by just over £13,000 (up 25%) over the course of the pandemic – rising […]