HMLR practice guide updates: August 2022

HM Land Registry logo

HM Land Registry practice guide updates: August 2022 (PG1, PG4, PG5, PG21, PG29, PG36, PG36a, PG49, PG67, PG 75, PG78) First registrations (PG1) Page summary: Guidance for conveyancers on how to register unregistered estates in land for the first time (practice guide 1). Change made: Sections 4.2 and 4.3.6 have been amended to refer to […]

Conveyancer-lender communication “limited in the extreme” – claim

lenders

You will hopefully have seen some of the results from our 2022 survey of conveyancing firms looking at their lender interactions, relationships, and communication channels. Each year, we ask conveyancers to give their assessment and rate how easy or otherwise it is to deal with lenders, specifically focusing on seven areas: the time they spend […]

Register of Overseas Entities – what does it mean for conveyancers?

Today's Conveyancer Podcast

The implementation of a Register of Overseas Entities (ROE) will help law firms tackle the opaque nature of foreign ownership and support efforts to tackle money laundering in the UK property market, says Mike Ward, Executive Chairman of Armalytix on the latest Today’s Conveyancer Podcast Effective today, 1st August, overseas entities are required to provide […]

Mortgage approvals fall for fifth consecutive month

Figures released by the Bank of England on Friday morning revealed that mortgage approvals decreased in June for the fifth consecutive month. Approvals decreased to 63,700 in June from 65,700 in May. This is below the 12-month pre-pandemic average up to February 2020 of 66,700, though figures are still broadly in line with what has […]

Confessions of a cyber conveyancer

cyber conveyancer

Ever felt that you can get a bit carried away with your own successes? Like when you close a new instruction without actually quoting the fee, and you start thinking, “heck, I’ll do this EVERY time”. Within a few days, you don’t even bother talking to prospects but send them paperwork automatically. Then the complaints […]

House price affordability at worst level since ONS records began

New figures published by the Office for National Statistics (ONS) have revealed that house price affordability in England has fallen to the worst level since ONS records began in 1999. In the financial year ending 31st March 2021, the median house price was £275,000, the equivalent of 8.7 times the median annual disposable household income […]

One in three transactions collapsed over last year – report

A shocking one in three (34%) property transactions fell through in the last 12 months, according to research from Smoove’s inaugural Home Movers Report. This caused a waste of almost £2,000 on associated costs, such as surveys, local authority searches and legal fees. The volume of busted transactions contrasts with booming market activity. According to the […]

LSB sets out regulators’ role in ensuring ongoing competence

Legal regulators must ensure standards of competence are met and maintained under new rules published by the LSB The Legal Services Board (LSB) has today published a new statutory statement of policy requiring legal services regulators to ensure that lawyers have the necessary skills, knowledge and behaviours to maintain standards of competence on an ongoing […]

Law Commission publishes digital assets reform proposals

The Law Commission of England and Wales has published new proposals to reform the law relating to digital assets. Digital assets, which include crypto-tokens — sometimes referred to as cryptocurrencies — and non-fungible tokens (NFTs), play an increasingly important role in modern society. The emerging technologies are used for an increasing variety of purposes, including […]

How should conveyancers approach undertakings?

undertakings

Extended feature: Ian Quayle examines “the bedrock of our system of conveyancing” – undertakings, what they are, and how they should be approached Undertakings are seen as a cornerstone of the conveyancing process, and the ability to rely on an undertaking from a conveyancer of the seller is a critical aspect of the completion process. […]

Diary of a high street conveyancer; 1st August 2022

Watching the amazing sports events at the Commonwealth Games, I thought about how long these athletes train for and their dedication to their chosen sport. I then thought about conveyancing, and I know that there are no Olympics for conveyancing, but I do believe that to become a good conveyancer you need to learn about […]