Bank of England cut rates for fourth time since 2024 peak
The Bank of England (BoE) has announced it has cut interest rates by a further 0.25%; from 4.5% to 4.25%; the fourth cut since last year’s 5.25% peak. The announcement was delayed to observe the two minute VE Day silence. The move has been welcomed by professionals across financial services and property who hope the cut […]
National Property Transaction Network pilot reduced completion time by 35%
A pilot scheme for the National Property Transaction Network (NPTN), an open and secure digital platform developed by legal tech company LMS, achieved a 35% reduction in completion times and a 43% drop in cancellations. The network connects conveyancers, suppliers, agents and lenders throughout the property transaction process. The pilot tested how cross-industry collaboration and […]
Knights surpasses £200m revenue and strengthens South East presence with Birkett Long acquisition
Knights has announced the acquisition of Essex-based law firm Birkett Long, for an initial £10 million. The deal will bring around 90 lawyers and 10 financial advisers to Knights, who will join an existing team of 1,250 in 28 locations. The acquisition, which the firm says will increase revenues to more than £200 million, comes […]
Completion takes a month longer than buyers expect; issues with communication are a top gripe
The house buying process takes 36 days longer than buyers expect it to, according to new research from the Open Property Data Association (OPDA). Almost half of those questioned said conveyancers are the primary cause of delays. On average, people expected the exchanging of contracts to take 88 days after an offer was accepted. But […]
£50 billion in 20 years – with only 27p missing
Having celebrated a landmark achievement of 20 years in the conveyancing business, Newport-based Convey Law reflects on transacting £50bn in home moves with head of finance and administration Abby Bater. Abby shares her thoughts on the trials and tribulations of keeping clients and teams safe in today’s fraught conveyancing world, and managing the finances of […]