New data reveals most common AML red flags

New data from client due diligence platform Thirdfort reveals that one fifth (22%) of red flags in completed Source of Funds (SoF) verification are raised for because the buyer has no mortgage, followed by buyers receiving a gift. Having completed around 20,000 SoF verifications via the Thirdfort app every month, the firm can see the […]
Mortgage Lending data shows value of outstanding mortgage balances

The latest Mortgage Lending data from the Bank of England and FCA shows that the value of outstanding mortgage balances with arrears is 18% higher than a year earlier and has risen to £21.9 billion, albeit this has declined by 0.4% compared to the previous quarter. New mortgage arrears cases (as a proportion of total outstanding […]
Stamp Duty Revenue Slumps 24% as High-Value Properties Dominate Receipts

Cornerstone Tax unveils 26% of Brits unable to afford property due to stamp duty costs, while 15% of landlords are selling up amid rising costs David Hannah, Group Chairman of Cornerstone Tax, discusses the impact of changing stamp duty thresholds will have on the UK’s suffering property market The UK government has revealed that Stamp Duty […]
PI giant enters conveyancing with comparison service

Claims management company First4Lawyers has entered the conveyancing market with a new comparison platform for home buyers and sellers. The group says it spotted a gap in the market for a service which compared firms not just on price but also on expertise and online reviews from independent sites such as Trustpilot. Following an initial […]
Ministers set to unleash biggest building boom in half a century

The government has announced a pledge to decide on at least 150 major infrastructure projects and deliver 1.5 million homes in this Parliament More giga-factories, solar farms, roads and railway lines are set to be green lighted in the next five years, adding billions to the economy, as part of stretching new milestones set out […]
Equity Release Group urge for heightened online accuracy and an enriched consumer experience

Equity Release Group (ERG), has called for the sector to level-up. The firm reveal there’s a need for an improved consumer experience across the sector, to meet the demands of consumer duty and align to the smart technology now available within the industry. Whilst in the past, it was noted that financial data within the […]
London and Kent law firm expands commercial property team

London and Kent law firm Thackray Williams has announced four new Real Estate hires as it looks to expand its commercial and residential property offerings further. Consultant Andrew Harborne will support commercial property clients with his expertise in non-contentious construction law, from site acquisition through design and build to onward sale. Nicki Rundle joins as […]