How to Navigate the Latest Regulatory Shift on Screening Politically Exposed Persons
As of January 10, 2024, The Money Laundering and Terrorist Financing (Amendment) Regulations 2023 have come into force, ushering in changes in the due diligence measures applicable to politically exposed persons (PEPs). The amendment emphasises the significance of differentiating between domestic and non-domestic PEPs when implementing due diligence measures. Particularly, unless specific enhanced risk factors […]
British Conveyancing Awards 2024 – Shortlist 3
The shortlist for the upcoming British Conveyancing Awards, sponsored by Groundsure, will come out all this week as the countdown begins to the 4th edition of the prestigious event. Congratulations to those shortlisted so far this week on Monday and Tuesday. Keep your eye out at 9am every day this week as a selection of […]
Fall-throughs are costing estate agents £63m a year, research reveals
New research has revealed that fall-throughs are costing estate agents an estimated £63 million purely based on the cost of having to remarket a property and host another round of viewings. Home Sale Pack has analysed residential fall-through data from TwentyCI and measured it against the estimated cost to the agent when they have to […]
50% increase in firms putting their staff through formal training
Law firms and conveyancing practices are investing more in training their staff as new statistics show that there has been an 50% increase in firms paying for staff to go through conveyancing and probate qualifications. six in ten learners currently undertaking the CLC qualifications through Law Training Centre are being sponsored by their firm, up […]
December saw mortgage repayments rise amidst flat annual growth, data reveals
Individuals repaid, on net, £0.8 billion of mortgage debt in December compared to net zero in November, according to the Bank of England’s Money and Credit data. The annual growth rate for net mortgage lending was flat for the first time since the series began in March 1994. Gross lending continued to increase, from £16.4 […]
