Addressing the issues surrounding the Building Safety Act 2022
Ian Quayle, CEO of IQ Legal Training and Managing Editor of Property Law UK, dissects the current issues surrounding the Building Safety Act 2022 (BSA, “the Act”) and affected leasehold properties. This comes as June’s edition of Property Law UK – a Building Safety Act special – has been made free for conveyancers to access. […]
2 conveyancing providers named amongst 100 fastest-growing companies in the UK
Two providers of conveyancing services have been included within The Sunday Times’ list of the 100 fastest growing companies in the UK. The companies – Muve and AIIC Holdings, which owns Taylor Rose MW – are listed 39th and 69th respectively. London-based Muve are said to have generated £8.6 million in revenue over the last […]
Mortgage approvals and transactions remain muted despite marginal May boost
Both property transactions and mortgage approvals increased marginally from the previous month in May, data released by HM Revenue & Customs and the Bank of England has revealed. Mortgage approvals The Bank of England said net mortgage approvals for house purchases increased by 3% from 49,000 in April to 50,500 in May, while remortgaging approvals […]
Halve stamp duty to boost economy, government told
The government has been urged by one of the leading British economic think tanks to halve Stamp Duty Land Tax (SDLT) as part of its efforts to boost economic growth. SDLT currently stands at 5% between £250,001 and £925,001 before rising to 10% between £925,001 and £1.5 million and 12% on anything above £1.5 million. […]
Law Commission: Digital assets require new third category of personal property
The Law Commission of England and Wales has suggested the creation of a new third category of personal property as part of reform of the law relating to digital assets. Digital assets – which include crypto-tokens (see cryptocurrencies) and non-fungible tokens (NFTs) – are used for an increasing variety of purposes in modern society, such […]
New conveyancing tech partnership ‘could cut transaction times by 6 weeks’
A new partnership between online conveyancing platform Optimus and digital homeownership platform Better.co.uk has been announced with the intention of cutting transaction timelines by “approximately six weeks”. Optimus, which is part of Landmark Information Group, says the move is part of the group’s wider ambition to streamline the property transaction process. It’s said the aim […]
Material information: Timeline revealed for next steps
The next phase of the material information rules for estate agency listings will begin this Autumn, it has been revealed. Part A of the project put forward by the National Trading Standards Estate and Letting Agency Team (NTSELAT) requires all property listings to contain the property’s council tax band or rate and the property price […]
Nearly half of sellers accepting significant discount to secure sale – report
New figures from Zoopla have revealed 42% of sellers are accepting a discount of 5% or more off the asking price to secure a sale – the highest level since 2018. What’s more, 15% are accepting discounts of over 10% off the initial asking price. However, Zoopla also estimate that mortgage rates rising above 5% […]
Optimus and Better.co.uk announce partnership to streamline the home-moving process
Optimus, a Landmark Information Group business, today announces a partnership with digital homeownership platform Better.co.uk as part of the group’s wider ambition to streamline the property transaction process for property professionals and home-movers alike. The partnership will be long-standing as both parties work collaboratively to improve the transaction process by removing bureaucracy, friction and bringing […]
Average two-year fixed mortgage rate rises to 6.23%
The average two-year fixed residential mortgage rate has risen by two basis points to 6.23%, according to Moneyfacts. Last week, The Monetary Policy Committee of the Bank of England voted 7-2 to raise interest rates by a further 0.5 percentage points from 4.5% to 5% in an effort to combat ongoing inflation, which stands at […]
