Rightmove finds some signs of autumn resurgence, but demand still down 9%
A 0.7% increase in asking prices, the first since May, is an early sign of an autumn market resurgence following a subdued summer, according to Rightmove’s latest HPI. But with enquiries 9% down on this time last year, affordability still presents significant challenges. New properties coming to market are also down (3%), as are sales […]
Conveyancing firm not liable for client’s £300,000 losses following failed transaction, court rules
A conveyancing firm will not have to pay damages of £299,800, a judge has ruled, despite having made a “limited” breach of service in failing to advise an investor that deposits paid up-front on a property development had no meaningful security or protection. Niprose Investments Limited brought the claim against Vincents Solicitors after an attempted […]
Half of Help to Buy recipients ‘wouldn’t have been able to buy’ without scheme
An evaluation of the government’s Help to Buy scheme, which ran between 2013 and 2023, reveals almost half (46%) of those who took part wouldn’t have been able to purchase a property without the support they received. The remaining 54% of buyers in the evaluation said they could have bought a home without the scheme […]
New upfront information packs aim to cut fall-throughs ahead of government reform
Two new upfront information packs aim to reduce transaction times and fall-throughs ahead of government changes to the home buying and selling process, with providers saying the industry “can’t afford to wait” for reform before taking action. Sales Pack Ready Surveys from Landmark Information Group are available to property professionals including conveyancers, while Eden Conveyancing’s […]
TwentyEA reveals exchange times across the UK
The latest report from data analysts TwentyEA reveals average exchange times in regions across the UK. The north-east of England is the quickest region to reach exchange, with 58.4% of property transactions progressing to this stage within three months, closely followed by Yorkshire and The Humber, where 55.6% of sales reach exchange within three months. […]
Flats depreciating and ‘complex’ conveyancing rising amid leasehold worries, analysis suggests
An analysis of HM Land Registry data has revealed the “stark divide” between the value of leasehold flats and freehold houses, with flat values depreciating while freehold houses have experienced steady price rises. Figures sourced from HMLR and analysed by SAM Conveyancing reveal that flats and maisonettes are the only property type in the UK […]
FCA AML supervision: where will the regulatory lines be drawn?
The government’s decision to transfer anti-money laundering and counter-terrorist financing supervision for professional services firms to the Financial Conduct Authority is a significant change for conveyancing firms, but perhaps the most important point at this stage is to be clear about what is, and is not, being proposed. Beth Rudolf, director of delivery at the […]
Diary of a High Street Conveyancer – Famous last words
“Completions tend to go more smoothly than in the past” – famous last words to a client on Thursday. I always speak with my clients on the day before they move so they know what to expect and what to do when. What time should they drop the keys to the estate agent? By what […]
Benchmarking the digital maturity of conveyancing firms
Over the past five years InfoTrack has been charting the progress of technology adoption in conveyancing through its bi-annual Digital Conveyancing Maturity Index. The survey asks a series of question about the technology used by conveyancing firms during the various stages of conveyancing, and the report is designed to help law firms track their technological […]