Allison Bradbury appointed new Chair of CoPSO
The Council of Property Search Organisations (CoPSO) has announced Allison Bradbury will become their new Chair from 1st February 2025. Previous Chair James Sherwood-Rogers stepped down at the end of September 2024 having led the organisation for 10 years. Allison joins having held senior positions at HM Land Registry over the last 35 years in […]
Portals and agents ‘failing consumers’ with lack of property information
Estate agents and property portals are failing to highlight issues to home movers which could have an impact on their decision to withdraw from a property purchase. Against a backdrop of fall through rates around one in three properties, property advice website HomeOwners Alliance reviewed 150 leasehold property listings on Rightmove, Zoopla, and OnTheMarket in […]
LSB launches consultation into how regulators will oversee prevention and detection of economic crime
A consultation on how legal regulators, including the Solicitors Regulation Authority (SRA) and Council for Licensed Conveyancers (CLC), can ‘promote the prevention and detection of economic crime’ has been launched by super-regulator, the Legal Services Board (LSB). Launched on 15th November 2024, the consultation will run until 7th February 2025 with the objective to ‘underline […]
“Sharp rise” in interventions prompts client account consultation
The Solicitors Regulation Authority (SRA) has launched its anticipated consultation on client money in legal services to review whether it remains appropriate for law firms to continue to hold significant funds in their accounts. The regulator announced plans to launch its consultation last week with SRA Chair Anna Bradley saying the reforms would tighten the […]
HMLR updates the the registration of personal covenants
HM Land Registry (HMLR) has announced it has made its process for entering personal covenants in the register more consistent with a new entry into the register effective from 13th November 2024. User will now see a new entry in the register in respect of personal covenants: HMLR says it will make this entry regardless […]
Agents still failing to provide material and up front information
Recently conducted research has concluded estate agents continue to fail to provide material and up front information for would-be home buyers, falling foul of consumer protection regulations. The Consumer Protection from Unfair Trading Regulations 2008 superseded the Property Misdescriptions Act 1991 in 2013, effectively requiring estate agents to provide ‘material information’ for the benefit of […]
What is Horizontal Digital Integration: And why is it relevant to conveyancers?
In the complex world of home buying and selling, where multiple stakeholders work together—from lenders to conveyancers, surveyors, and estate agents—a new digital transformation approach is emerging: Horizontal Digital Integration (HDI). Developed as a strategic methodology, HDI isn’t a single technology or platform. Instead, it serves as a framework for building a connected ecosystem where […]
SRA sounds warning on client account interest income
The Solicitors Regulation Authority (SRA) has sounded a warning to firms reliant on client account interest income with a consultation to be launched next week which may result in reform of accounts rules and changes to the compensation fund. SRA Chair Anna Bradley has indicated reform to tighten the rules on client account interest and […]
“Invasive” bamboo warning as 1 in 4 homebuyers would walk away
Conveyancers and homebuyers are being warned of the potential impact of bamboo on properties as awareness grows of the damage it can cause, with a 50% annual increase in enquiries for bamboo removal relating to property transactions in the last six months compared to the same period last year. The research has been conducted by […]
“Contrived” MDR claim leaves £80,000 SDLT bill
A ‘contrived’ attempt to claim Multiple Dwellings Relief (MDR) on a property has left the owner’s with an £80,000 tax bill after a first tier tribunal (FTT) ruled MDR did not apply. The property in question, a six-bedroom home in Upper Basildon, Berkshire, was transacted in August 2020. The tribunal was told the solicitors for […]
New “Ethical Principles” part of updated CLC Code of Conduct
Proposed changes by the Council for Licensed Conveyancers (CLC) to its Code of Conduct have been approved by the Legal Services Board (LSB) and will take effect from January 1, 2025. A revised code of conduct was put to CLC in a consultation at the end of 2023, placing increased importance on knowing your client, […]
“Property lawyers are not environmental experts” – but we must explain potential liabilities
Solicitors and property practitioners are not expected to be experts in environmental law but they must advise clients on the potential impact of climate change on property transactions and signpost them to further resources should the issue arise. In a panel discussion at the Law Society’s Property Conference, the message was clear and practitioners are […]
Climate change guidance consultation launched
A consultation on updated guidance for conveyancers around what to advise clients on climate risk has been launched by the Law Society of England and Wales. In April 2023 conveyancers were told it was their duty to advise clients on climate legal risks when acting in transactions; although they “should not advise on climate change […]
TA6 Consultation: Law Soc launches expert webinars
The Law Society of England and Wales have launched two webinars as part of its consultation and engagement around the TA6 fifth edition updates. The webinars will be pre-recorded and will be published during Property Week (14 to 18 October) covering topic areas where members have asked questions or expressed concern. The Law Society are […]
Monthly forum to address the Building Safety Act launched
A monthly forum to address the challenges presented by the Building Safety Act has been launched to help conveyancers understand the implications of the legislation, and navigate their way around its intricacies. Conveyancing trainer and author Ian Quayle of IQ Legal Training will lead the interactive forum which encourages contributors to ask questions and seek […]
Navigating the SRA AML Questionnaire: Key Insights for Law Firms
The Solicitors Regulation Authority (SRA) has rolled out a new AML (Anti-Money Laundering) Questionnaire, and if you’re involved in managing compliance for a law firm, this is something you’ll want to pay close attention to. The questionnaire is designed to gather detailed information about your firm’s approach to AML, including your risk assessments, policies, and […]
Know your business checks for overseas entities launched
As part of the money laundering regulations firms are required to establish ultimate beneficial ownership (UBO) of companies and complete client due diligence. According to HM Land Registry figures, there are 280,021 homes registered to foreign homeowners; a combination of 2/3 owned by individuals, and 1/3 owned by overseas companies. In the last 12 months, […]
Anti-Money Laundering Supervision Arrangements: CLC policy update
In June 2017, The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations came into effect. The Council for Licensed Conveyancers (CLC) is one of the bodies appointed to supervise compliance with these anti-money laundering laws. A policy document outlines the CLC’s key governance arrangements, approach to supervision, and procedures for […]
Portals will not take action on Material Information failings
Property listings portals Rightmove, Zoopla and OnTheMarket have suggested they will not take disciplinary action again estate agents who fail to comply with the material information guidance published by National Trading Standards Estate and Letting Agency Team (NTSELAT). Estate agency publication The Negotiator has spoken to the portals who have said they will take a […]
Q&A reveals what is in, and out, of the Leasehold and Freehold Reform Act 2024
A question & answer document provided by the Association of Leasehold Enfranchisement Practitioners (ALEP) has revealed what is included, and more importantly what is not included, in the Leasehold and Freehold Reform Act 2024. The act scraped through Parliament on the final day of the Conservative government ahead of the General Election in July. Despite […]
