Law Society makes regulation recommendations ahead of AI Safety Summit
Ahead of the AI Safety Summit 2023, the Law Society of England and Wales has made artificial intelligence (AI) regulation recommendations for the government to consider. The recommendations, made in response to the government’s white paper on regulation, include: The expertise of the legal profession should be recognised and harnessed in the AI regulatory approach. […]
Law Society raise concerns over SRA proposal to cover Solicitors Compensation Fund shortfall
The Law Society of England and Wales have expressed their concern regarding the idea that the Solicitors Regulation Authority (SRA) are considering a one-off levy on the profession to cover the likely shortfall in the Solicitors Compensation Fund. This shortfall has come off the back of the significant losses from the Axiom Ince, Metamorph and […]
The global rise of AI: opportunities and challenges
At the start of November, the government will host the first global summit on artificial intelligence (AI), with a focus on the safe use of AI. The AI Safety Summit will be at Bletchley Park, a venue representing innovation and pioneering, and once the top-secret home of WW2 codebreakers. The Summit will focus on the […]
Geodesys’ Conveyancing Concierge: A Time-Saving Solution for Conveyancers and Local Authority Practitioners
Geodesys’ Conveyancing Concierge manages conveyancing transactions for you free of charge, assisting you when you need it most. From producing the property plan to ordering specific searches, conveyancing concierge eases the pressure all free of charge. Earlier this month we sat down with Kay Toon, Geodesys’ Key Account Manager, who specialises in complex commercial plots […]
LMS monthly remortgage snapshot: September 2023
LMS, the UK’s leading conveyancer and panel management specialist, has today released its monthly remortgage snapshot. This month’s update showed: Instructions decreased by 17% in September 7% more remortgages were completed in September The overall cancellation rate increased by 20% Pipeline cases decreased by 8% month-on-month Average monthly payment increase for those who remortgaged in […]
Seasonally adjusted residential transactions have fallen by 1% in September
HM Revenue & Customs have revealed their latest data on the number of UK residential property transactions in September 2023 highlighting a 19% in comparison to September 2022. The estimated 92,600 transactions in September was 2% lower than August 2023 on a non-seasonally adjusted basis. On a seasonally adjusted basis, HMRC said transactions were down […]
UK’s leading legal expertise promoted at world’s largest law conference
The future of the UK’s legal services in an era of artificial intelligence (AI) were at the heart of discussions at the world’s largest gathering of legal professionals in Paris this week. Justice Minister Mike Freer has spoken about the benefits of AI which is set to transform the work of lawyers and is being […]
LPAs and beyond – To discuss or not to discuss, that is the question!
This is an extremely personal matter. My ex-husband suffers from early on-set dementia and requires 24-hour nursing at the tender age of just 63. We hear about cases like his more and more but the practicalities of looking after a loved one are still not really talked about. It has been exceptionally difficult for my […]
Mortgage debt net borrowing hits negative £0.9bn, lowest since April 2023 – BofE
Net borrowing of mortgage debt by individuals decreased from £1.1 billion in August to -£0.9 billion in September – the lowest since April 2023 (-£1.3 billion), data released by HM Revenue & Customs and the Bank of England has revealed. Gross lending fell from £19.4 billion in August to £18.6 billion in September, while gross […]
£17.5bn worth of remortgages were approved in the first quarter of 2023, research reveals
New data reveals that £17.5 billion worth of remortgages were approved in the first quarter of 2023, a £10 billion decrease from the previous year. Confused.com Mortgages have analysed the most recent data on remortgages in the UK, uncovering significant statistics and trends that shed light on the current remortgage landscape. According to the Financial […]
SRA transparency rules compliance remains low, yet regulator sees success
An independent report has revealed that a significant number of law firms are still struggling to fully comply with the Solicitors Regulation Authority (SRA) transparency rules, even though a minority of legal practitioners believe these rules are in the best interest of consumers. The SRA, however, celebrates the report as evidence of the scheme’s effectiveness. […]
CLC Code of Conduct Consultation
The Council for Licensed Conveyancers (CLC) has opened an 8 week Code of Conduct Consultation, asking for feedback on a series of questions by Friday, 22nd December 2023. The Code of Conduct provides both the Ethical Principles and the outcomes that are relevant to each principle. It is there to act as a guide to […]
