News brought to you by the Today’s Conveyancer editorial team.
In the latest development of the Simplify Group IT outage which left thousands of transactions unable to complete and even more home movers stranded, law firm Keller Lenkner UK has confirmed that an initial 50
HMRC has reported £11.44 billion in receipts from SDLT so far this year, the highest amount collected in the first 11 months of a year since 2017. It is thought that the fervent second-home buying
Housebuilder Taylor Wimpey has announced it will no longer subject leaseholders to ground rents that double every 10 years following an investigation by the Competition and Markets Authority (CMA). Following action launched by the CMA
All new buildings must reduce their greenhouse gases by nearly a third under new building regulations which will come into force in June. Under the rules, carbon emissions from new build homes must be 30%
The Royal Institution of Chartered Surveyors (RICS) says it will not remove EWS1 requirements for low-rise buildings. Previous guidance issued by the Government earlier this year stated that having consulted with lenders, low-rise buildings less
Since the Bank of England raised the interest rate last week to 0.25% from an all-time low of 0.1%, industry commentary around 2022 mortgage trends continues to gather pace. Despite the emergence of the Omicron
HMRC’s November transaction figures indicate a return to stability for property sales, but stock levels remain low. Figures show that the provisional non-seasonally adjusted estimate for November 2021 sales transactions is 104,980, 13.4% lower than
HM Land Registry has published details of changes to Practice Guides 9, 10, 50, 62, 64 and 67. Powers of attorney and registered land (PG9) This guide gives advice on the evidence HMLR needs when
The CLC has provided an update regarding ongoing matters resulting from the Simplify Group cyber attack. The CLC today provided an update stating that it has been in constant touch with managers at Simplify since
The Financial Conduct Authority (FCA) has fined HSBC Bank (HSBC) £63.9m for failings in its anti-money laundering (AML) processes. HSBC used automated processes to monitor hundreds of millions of transactions a month to identify possible
The Bank of England has increased interest rates to 0.25% from 0.1%. The decision, which caught many experts by surprise, came just after the official rate of inflation reached 5.1%, the highest rate recorded in
Despite early fears that the coronavirus pandemic would lead to a downturn in activity, the Australian housing market – much like the UK’s – experienced something of a boom. A combination of Government incentives and
The British Conveyancing Awards returns in 2022 to celebrate the cream of the conveyancing crop. With a new headline sponsor in Dye and Durham, the 2022 edition is a departure from the 2021 awards which
Online estate agency Purplebricks is reported to have set aside millions to cover a blunder which may have affected its lettings business tenants. The company has recently warned that its lettings management business may face
The Fraud Advisory Panel, HM Land Registry (HMLR) and the Law Society of England and Wales have issued a guide to help homeowners avoid property title fraud. The guide, aimed at homeowners and conveyancing clients,
The Ministry of Justice (MOJ) has announced a three month consultation as it plans to revise The Human Rights Act. The MOJ says that the proposed new legislation aims to strike a proper balance between
The Law Society has issued a statement saying that the Legal Ombudsman service (LeO) must take “radical action” if it wishes to retain the confidence of both public and profession. The Law Society said that
Nearly half (45%) of mortgaged homeowners under the age of 40 got onto the property ladder “much later” than they expected, compared with 29% of over-40s, according to new research by the Equity Release Council
The latest report from the Government’s House Price Index (February 2020 – July 2021) shows that new-build homes account for 6.5% of pandemic property purchases. Additional research by the new-build sales optimisation platform, Unlatch, also
A new report from the Ministry of Justice (MOJ) demonstrates how government funding has maintained and expanded vital access to free specialist legal advice. Through the Covid-19 Specialist Advice Services Scheme (CSASS), £5.4 million was
HM Land Registry has published details of changes to Practice Guides 4 and 5. Adverse possession of registered land (PG4) This guide provides information about applications for adverse possession of registered land, the procedures for
Early-bird entry for The British Conveyancing Awards, which is run by Today’s Conveyancer and sponsored by Dye & Durham, has been extended to 17th December. Firms and suppliers wishing to enter this year’s event now
Two leading MPs have called for an official investigation into a cyber attack on conveyancing platform, Simplify Group, as home movers, conveyancers and agents remain at a standstill. MPs Bob Blackman and Brendan Clarke said
As an exceptionally busy 2021 draws to a close, property portal Rightmove says it expects a closer to normal, though still busy, market in 2022. The good news for conveyancers is that the current record
The Competition and Market’s Authority (CMA) has announced that Canadian group Dye & Durham must act to address concerns that the acquisition of tmgroup in July 2021 could result in “a substantial lessening of competition
The Law Society of England and Wales has issued a response to London-based thinktank Chatham House’s recent report criticising the UK’s anti-money laundering (AML) laws. The report states that un-policed and often unenforceable anti-corruption laws
Halifax’s latest Price Index for November affirms recent industry reports around rising house prices and stock shortages. The report reveals that house prices have risen for a fifth straight month, with growth now at a
The Legal Services Board (LSB) says it finds the legal profession is “out of step compared with other professions”, and that greater focus on assessing and understanding levels of competence is required. To address this,
The Government has announced that new homes are to be built on derelict sites as part of an initiative to develop brownfield land and regenerate communities. The Brownfield Land Release Fund announced by the Department
The Conveyancing Association (CA), the leading trade body for the conveyancing industry, used its recent Annual Conference “The Conveyancing Revolution – Survival & Success in the Pandemic World” to outline a number of process improvements,
Housing minister Michael Gove has announced to Parliament that he will soon reveal a series of measures to tackle the cladding scandal which is currently affecting around 1.2 million leaseholders across the country. Amongst the
Gerry Walsh has been appointed as the new interim CEO of the Law Society of England and Wales. Born in Northern Ireland, Gerry has spent most of his working life in England, France, Poland and