LMS launches ‘revolutionary’ conveyancing communication technology

communication

LMS has announced the launch of its newest Secure Link technology which it says will enable messaging between firms – including enquiries and document sharing – while improving turnaround times and minimising fraud risk within an “authenticated and secure conveyancing community”. The latest version of LMS’ technology – which was initially launched in 2021 – will also […]

Takeover talks continue between PEXA and key conveyancing tech provider

negotiations

Conveyancing technology provider Smoove has confirmed that discussions “remain ongoing” between itself and synchronised settlement platform PEXA over a takeover. PEXA, which first made its way from Australia to the UK property market last year, was reported to be in discussions around acquiring Smoove as early as April, with the original 22nd May deadline for […]

AML breaches see significant number of estate agents fined by HMRC

Dozens of estate agencies have been fined by HM Revenue & Customs (HMRC) for failing to comply with anti-money laundering regulations. HMRC recently published a list of the 240 entities that make up a total of £3.2 million in fines handed out between 1st July and 31st December 2022 by HMRC for breaching Money Laundering Regulations. Amongst […]

New mortgage commitments down 40% on last year as lenders continue to pull deals

housing uk

New Bank of England data has shown the value of new mortgage commitments is down over 40% compared with the same period last year. This comes as lenders recently pulled nearly one in 10 deals from the market due to concerns about further interest rate rises according to Moneyfacts, who say the average two-year-fixed-rate mortgage has […]

Historical rentcharges

By Nicola Ashley and Nicola Davies – Directors at ntitle We have recently been made aware of a situation whereby a lengthy transaction delay was caused by a lender insisting on having a historical rentcharge redeemed and removed from the title. The rentcharge had been paid to date and the rentcharge owner had been located. […]

LMS monthly remortgage snapshot: May 2023

LMS logo

LMS, the UK’s leading conveyancer and panel management specialist, has today released its monthly remortgage snapshot.  This month’s update showed: Instructions increased by 11% in May 1% less remortgages completed in May The overall cancellation rate decreased by 0.22% Pipeline cases decreased by 2% month on month 43% of borrowers increased their loan size in May […]

A new Dawn: Shawbrook Bank and Pure Law embark on a digital remortgage journey

pexa logo

The months prior to Christmas last year were action-packed for PEXA – the first digital remortgage transaction was completed by Hinckley & Rugby Building Society and muve in September, followed in quick succession by Shawbrook Bank and Pure Law joining the network and similarly beginning their digital remortgage experience.    We caught up with Shawbrook and […]

Majority of law firms submitting no Suspicious Activity Reports – study

money

New research has revealed that just two in five law firms submitted any Suspicious Activity Reports (SARs) over the last two years on average. The study – conducted by risk management platform Thirdfort – found solicitors in the UK submitted 3,436 SARs in 2021/2022. Meanwhile, there were 9,813 registered law firms at the end of […]

Party Wall legislation: The handbook for conveyancers

The Party Wall etc. Act 1996, which will be referred to as “the Party Wall Act” throughout this article, holds significant implications for homeowners, developers, and conveyancers. As a party wall surveyor, I often receive queries about the act and how it interacts with conveyancing activities. So, this article will delve into the critical aspects […]

Digital conveyancing: Three reasons conveyancers are prioritising legal tech

Image of a person on a laptop

The conveyancing market has made significant strides in both its adoption and attitudes towards legal technology since 2020 – and firms are increasingly operating a digital-first or even a digital-only approach for a good proportion of their cases. More and more, they’re relying on legal tech to help them solve three key challenges: Shifting client […]