CHAPS payments issue restored, says BofE
The Bank of England recently reported a glitch with the CHAPS service which delayed house purchases and other high-value payments. They have confirmed that the third party supplier has restored service and CHAPS payments are settling as normal. Officials stated that the outage affected “some high-value and time-sensitive payments, including some house purchases.” This is […]
CILEX appoints new chair
The Chartered Institute of Legal Executives (CILEX) has appointed Eileen Milner who will take over as chair from Professor Chris Bones in January 2025. Yanthé Richardson also begins her year-long term as president. Law Society of England and Wales chief executive officer Ian Jeffery said: “We thank Chris for the work he has done leading […]
NLC say they are ‘delighted to see a real commitment from this government to prioritise Leasehold Reform’
The The National Leasehold Campaign say they are ‘delighted to see a real commitment from this government to prioritise Leasehold Reform’ in today’s King’s Speech. The organisation say their commitment to “Act quickly” to implement the provisions of the Leasehold and Freehold Reform Act 2024 will be a relief for many leaseholders who currently remain […]
Propertymark intends to continue to work with the Welsh Government on property orientated plan
Propertymark intends to continue to work with the Welsh Government as First Minister Rt Hon Vaughan Gething, MS, forms his property-orientated legislative plan. His four main priorities for the remainder of his Senedd term include building safety, homelessness, visitor accommodation, and planning. Regarding building safety, an ambitious Building Safety Bill that intends to go much […]
Breaking down barriers: Can a conveyancers find common ground with an estate agent and a mortgage lender?
There’s no doubt about it. Residential property transactions are taking longer. As our latest market research reveals, the average time it takes from instruction to completion is 19 weeks. That’s a 64% increase compared with 2007. It’s perhaps no surprise then that 72% of the conveyancers we spoke to said protracted timescales were impacting chain […]
