LMS Monthly Remortgage Snapshot | December 2022
Key stats: £240 average monthly payment increase for those who remortgaged in December 43% of borrowers increased their loan size in December 67% of those who remortgaged took out a 5-year fixed rate product, the most popular product in December 35% said their main aim when remortgaging was to gain longer term security, the most […]
Unhelpful PR from the LR highlights a real issue
It has been reported that the Land Registry is urging firms to “conduct better quality control” on documents filed by them to avoid “basic errors” which are – according to them – holding up the progress of applications. This comes in the wake of a finding that of the approximately one million requisitions the Land […]
Legal regulators need to work on building trust with their communities, CLC event told
Legal regulators can reduce the amount of enforcement work they need to undertake if they can build enough trust that lawyers will approach them before things go wrong, an event hosted by the Council for Licensed Conveyancers (CLC) has heard. Speaking on how much legal regulation can be about prevention rather than enforcement, Sarah Debney […]
HMLR webinar | Has your search of the index map been rejected?
Last year, 10% of applications for a search of the index map (SIM) fell at the first hurdle. That’s 25,000. If yours was among them and you want to understand why, or if you need to search the index map but you’re not sure how to proceed, register for our latest free webinar, Search of the […]
“Signs of positivity” in New Year market, says Rightmove
New data from Rightmove has suggested there is plenty of cause for optimism as the market showed encouraging levels of activity in the early period of the year. According to the property portal, new buyer demand is up by 4% compared with the same period in 2019, with the bounce back activity “bigger than usual” […]
Conveyancers must stop “avoidable errors” in applications – Land Registry
HM Land Registry (HMLR) has urged conveyancers to put a stop to “avoidable errors” in applications in an effort to reduce requisitions. In a blog post on their website, Mike Harlow, Deputy Chief Executive and Director of Customer and Strategy at HMLR, stated that one of the “main obstacles” they are facing in speeding up […]
Lenders begin to cut mortgage rates – but affordability concerns remain
New data released by Nationwide has revealed that the affordability strain on borrowers’ pockets is nearing an all-time high. Indeed, the building society says first-time buyers are now spending as much as 39% of their income after tax on mortgage repayments based on an 80% LTV mortgage at 5.5% interest, up from 33% in the […]
Diary of a high street conveyancer: 16th January 2023
Last week, I wrote about the Building Safety Act and the increasing responsibilities placed on conveyancers. It led me to think about what it was like 35 years ago when I first started in this world which I love so much. If I remember correctly – and please correct me if I am wrong – […]
Conveyancing practice: Look to the future with confidence
Extended feature | Professor Stewart Brymer of the University of Dundee and the Home Buying & Selling Group looks at how far conveyancing has come – and where it may go next January is always a time for looking forward. My purpose in this article is no different, but I wish to begin by looking […]
