Bank Rate hold is ‘sensible call’ for housing market
The Monetary Policy Committee (MPC) has held Bank Rate at 3.75% by a majority vote of 6-3. Three members voted to increase the rate to 4%. Explaining the decision, the MPC said: “Protracted conflict in the Middle East has contributed to further increases in crude and refined energy prices since the previous meeting, which remain […]
Properties reaching sales agreed fall 5% year-on-year, as housing market shows ‘signs of weakness’
The housing market is showing “increasing signs of weakness” as the number of properties reaching sales agreed has fallen 5% year-on-year for the last four months. According to the latest market update from TwentyCi, data points to a “weaker” Q4 as buyer demand remains subdued and rising swap rates put renewed pressure on mortgage affordability. […]
Law Society ‘will discuss SRA’s COLP and COFA proposals at AGM’
The Law Society of England and Wales has confirmed it will discuss Solicitors Regulation Authority (SRA) proposals for changes to compliance rules at its upcoming annual general meeting in October. The proposal to separate the roles of compliance officer for legal practice (COLP) and compliance officer for finance and administration (COFA) from individuals with decision-making […]
Law Society Diversity Access Scheme awards 16 scholarships
The Law Society has awarded 16 scholarships as part of its Diversity Access Scheme (DAS). Open to aspiring solicitors seeking to complete the legal practice course (LPE) or the solicitors qualifying exam (SQE), the scheme aims to promote social mobility and increase diversity within the legal professional, helping with funding, accessing paid work experience opportunities […]
NAVRO named as UK Finance Mortgage Lenders’ Handbook authorised partner
NAVRO Compliance has become an authorised partner of the UK Finance Mortgage Lenders’ Handbook, following testing of the legal technology company’s systems and processes. As an authorised licensee of UK Finance, NAVRO has formalised the relationship between the two organisations, which it says will reinforce its position as a trusted provider of lender compliance solutions. […]
Leasehold vs commonhold: a debate between a reformist and a realist
Mark Wilson, ALEP member and founder of MyLeasehold, sets out the debate between leasehold and commonhold in an attempt to identify the better structure – but there’s no clear winner. A popular joke in the world of leasehold enfranchisement is: “Why did the commonholder cross the road? To avoid being invited to the AGM […]