Building Safety Act: ‘We’re not going to ask conveyancers to take out a tape measure’
Amidst ongoing disquiet regarding leasehold properties affected by the Building Safety Act 2022 (BSA), conveyancers have been told that lenders are not expecting them to “take out a tape measure” in confirming the height of a building. Nationwide’s Part 2 to the UK Finance Mortgage Lenders’ Handbook question 5.14.17 still states that conveyancers “must check that, […]
Government agrees new support measures for mortgage holders
The government has confirmed that it has agreed with lenders a range of new support measures for mortgage holders in the face of rising interest rates and an increasingly tight affordability squeeze on borrowers. The government stressed that the situation is not currently comparable with that of the 2008 financial crisis. The Treasury said the […]
Lack of estate agency regulation ‘completely outdated’, says Russell Quirk
Well-known estate agency commentator Russell Quirk has said the lack of any regulation of estate agents is “completely outdated”. Quirk, who regularly appears in national media to discuss the property sector, founded online estate agency emoov in 2010 as well as Quirk Deakin in 1999. With this experience in mind, he believes that estate agency […]
The National Register of Property Logbooks: An appraisal
The benefits of homeowners having a Property Logbook have been canvassed for some time. This article looks at the expansion of the national register of property logbooks and considers the benefits this will bring. What is the present position? We are all accustomed to the concept of a logbook for any form of motor vehicle. […]
New conveyancing search provider hits the market
A new conveyancing search provider promising an alternative service has been launched by Jeremy Dorkins and Kevin Johnson. On Point Data is positioning itself as a “new alternative to traditional conveyancing search providers” with an “entirely customer-focused” ethos. Based in Woking, the firm aims to offer an alternative way for conveyancers to conduct business and […]
High interest rates or inflation – what’s the answer?
The nonsensical increase in interest rate rises continues with the Bank of England sending shock waves across the financial world by increasing interest rates by 0.5% to 5% this week – supposedly in an attempt to curb inflation – and leading to calls for government intervention. Raising interest rates is in itself inflationary as it […]
250,000 homes could be ‘unsellable’ due to spray foam insulation – report
Hundreds of thousands of properties could become unsellable with owners also unable to access equity release due to spray foam insulation, it has been reported. Homeowners have been consistently warned about the potential dangers and consequences of using spray form insulation in their homes. It is estimated that the downsides of spray form insulation – […]
Understanding, implementing and evolving: The three steps to AML compliance
The number of AML-related fines in the UK rose from four to fourteen last year as financial institutions were fined $5bn globally for money laundering violations. The Financial Conduct Authority has heightened its attention on companies in charge of anti-money laundering compliance through enforcement actions, such as fines and investigations, and in severe cases, prosecution. […]
