BREAKING NEWS: Angela Rayner resigns over stamp duty ‘error’
Angela Rayner has resigned as the UK deputy prime minister after admitting underpaying stamp duty on the purchase of an £800,000 flat. Rayner resigned this morning after Sir Keir Starmer received a report into the circumstances surrounding the purchase of the flat and the advice sought by Rayner in relation to her personal financial affairs. […]
Conveyancer acting for Angela Rayner clarifies role: ‘We did not give tax or trust advice’
The managing director of the conveyancing firm that handled the purchase of Angela Rayner’s Hove flat has issued a statement to The Telegraph, explaining that the firm did not give tax or trust advice. Joanna Verrico, of Herne Bay firm Verrico & Associates Ltd, told the newspaper: “We acted for Ms Rayner when she purchased […]
Purchasing down but mortgage lending up in ‘market showing underlying momentum’
The Q2 Household Finance Review from UK Finance shows an expected drop in purchase transactions following stamp duty changes. But with mortgage lending returning to growth, the financial services trade association says the data suggests continuing underlying momentum. Despite the anticipated decrease in purchase activity following the large spike in March, Q2 applications were up […]
Propertymark data shows drop in demand, but market ‘remains buoyant’
The latest housing insight report from Propertymark shows a drop in demand over July, but the number of transactions and appraisals reflect a buoyant market and unshaken consumer confidence, the organisation says. The monthly survey of Propertymark member agents reveals the average number of new buyers registering per member branch dropped by 11 to 65 […]
Average monthly mortgage repayment ‘close to half of gross salary’
Analysis by financial data company Moneyfacts reveals monthly mortgage repayments of an average earner now amount to almost half of their gross salary, reaching levels last seen in the 2008 financial crisis. At the turn of the millennium, the average house price was £78,000, around five times the average wage of £15,800. Now, the average […]
Law Society Special General Meeting threshold to rise ten fold
The threshold at which the Law Society can be required to hold a Special General Meeting (SGM) could rise tenfold as part of proposals put forward at the Annual General Meeting(AGM). In an article outlining how the Law Society is ‘modernising its governance’ published in the Law Society Gazette, Law Society CEO Ian Jeffery said […]
Women in Residential Property panel event will discuss power of collaboration
A Bristol panel event staged by the Women in Residential Property (WiRP) network will discuss the power of collaboration in property and examine how powerful networks can drive progress. Hosted by WiRP chair Rebecca Kibby at the Bristol offices of Foot Anstey, guests will discuss the impact of collaboration and how women-led groups shape the […]
Escaping the compliance money pit: An integrated path to reducing personal indemnity insurance costs
Compliance has become a black hole for time and money. Almost £40bn – equating to around 1.5% of GDP – is spent annually just on complying with money laundering regulations. With every incremental change to the rules, whether AML, sanctions screening or customer data protection, law firms are forced to stitch together a patchwork of […]