House prices have ‘tumbled’ since interest rates started to climb – analysis

Market analysis of government data from has shown that, after adjusting for inflation, just three areas of the UK property market have seen house prices increase since interest rates started to rise in December 2021, with the average UK house price down -9.4% in this time. However, while house prices have been affected pretty much […]
Research reveals increase in searches for interest-only mortgages

New data has revealed that there has been an increase in searches for interest only mortgages as borrowers look to reduce monthly costs. The data, from Legal & General’s Ignite platform, shows that despite concerns over rising mortgage rates and inflationary pressures, the market is still highly active, with specific areas driving activity. Particular groups, such […]
Thousands of landlords ‘selling homes while tenants in situ’

Thousands of landlords across Britain are selling their properties before tenancy agreements have concluded, causing uncertainty and potential eviction for tenants who remain in situ, a new study has suggested. House Buyer Bureau’s findings revealed that there are currently 12,518 properties listed for sale while still having tenants in situ. 20% (2,545) of these properties […]
The DPMSG is necessary – and it deserves the industry’s support

As we’re all acutely aware, there is no such thing as any sort of “Summer slowdown” when it comes to the focus on UK housing, and given the prominent position it holds from both an economic and political perspective, we should always anticipate new announcements, new legislation, new technological advancements, new attitudes towards it. August […]
Land Registry comes under fire from national press

HM Land Registry (HMLR) has been pulled up by the national press for the impact of its processing delays on homeowners. Sunday paper The Observer, sister of The Guardian, published a story on application delays, suggesting that bottlenecks at HMLR are causing buyers to miss the best mortgage deals and affecting owners’ ability to sell. […]
Transactions ‘set to fall to lowest levels since 2012’ – Zoopla

The number of UK housing transactions completing over 2023 is forecast to be over a fifth lower than 2022 and will represent the lowest figure since 2012. This comes according to Zoopla, who say the market is on track to hit one million sales completions in 2023, equivalent to the average household moving once every […]
Confessions of a cyber conveyancer: Good tech doesn’t mean ‘dumbing down’ conveyancing

As it was summer and everyone seemed to be on holiday, I thought I’d contact lots of lawyers and talk about how they manage enquiries. I know this might not spring to mind as the best entertainment that a wet August in England has to offer, but I had few options. Concerns were raised on […]
Building safety: Petition to protect leaseholders gathers momentum

Around 50,000 people have signed a petition calling for all leaseholders to be protected against building safety defects via an amendment to the Levelling Up and Regeneration Bill. The Earl of Lytton’s amendment – which is returning to the House of Lords this September – offers consumer protection for those living in blocks of flats […]
Mortgage approvals dip as ‘cautious sentiment’ takes hold

The number of mortgage approvals fell by nearly 10% in July marking the lowest figure since the start of this year, new Bank of England data has revealed. Specifically, net mortgage approvals decreased from 54,600 in June to 49,400 in July (-9.5%), which comes after an upswing in approvals during the previous month. On the […]
Gifts from ‘Bank of Family’ funding a third of home purchases

Financial gifts from family members are now supporting a third of property transactions, new research from Legal & General has found. This is expected to total some 318,400 transactions by the end of 2023, a third of the one million transactions predicted to get over the line by Zoopla. This is predicted to become 357,200 […]
Pay rises for lawyers who move jobs treble that of those who stay put – study

Salaries for lawyers who moved firms last year increased by three times as much as those for lawyers who stayed loyal to their firms, according to new research by legal recruitment consultancy Realm Recruit. As part of its annual salary research conducted earlier this summer, Realm Recruit found that legal professionals who moved jobs in the last year achieved an […]
Easing inflation ‘sparks hope’ for a more competitive mortgage market

Although a cooling in house prices is widely anticipated, forecasts suggest a more moderate pace than initially projected earlier in the year. The property market continues to exhibit promise, with motivated buyers still actively seeking correctly priced homes, said Nicky Stevenson, Managing Director of Fine & Country. She said: “Despite prevailing economic conditions, transaction numbers […]