Search insurance – Cover, Claims and Common Misconceptions
It is estimated that 1 in 3 property transactions require some form of search or indemnity insurance and yet it is often seen as an ‘add on’ to the conveyancing process. Because of the increasing need for insurance, it should be considered as managing risk not just as selling insurance products. Search and indemnity insurance […]
Under-pressure conveyancing process could be improved by mirroring lettings
The antiquated conveyancing system could be more effective if it mirrored some of the best practice from the lettings process, according to Gazeal. The digital platform says that the additional pressure on the conveyancing process caused by the stamp duty holiday has highlighted its shortcomings and that evolution is urgently needed. Mirroring lettings would represent […]
CLC pushes back against proposed 19% increase in cost of Legal Ombudsman
The Legal Ombudsman’s (LeO) proposed 19% budget increase is not justified and needs to be revisited, the Council for Licensed Conveyancers (CLC) has said in proposing the creation of an external task force to help it deal with complaints more quickly. LeO is seeking a budget of £15.3m for 2021/22 in light of a rapidly […]
Legal service workers will work extra 20 days when working from home
Law firms are gaining the equivalent of an extra 20 working days a year from employees putting in longer shifts when they work from home, according to new research from Atlas Cloud. The research reveals that by working from home during the Coronavirus pandemic, instead of commuting to an office, employees in the sector are saving an […]
More lenders embrace search Insurance
The fast approaching end of the SDLT holiday in March means that residential property lawyers are under even more pressure to complete purchases quickly. They will be pleased to hear that major lenders Skipton Building Society and NatWest will now accept Search Insurance in place of Local Authority Searches. NatWest will temporarily accept Search Insurance […]
SDLT debate will happen….on Monday
There may be a welcome sigh of relief from those in the housing market as a date has now been set for the SDLT petition to be heard. It’s on Monday 1 February 2021 at 4.30pm. Elliot Colburn, member of the Petitions Committee, will lead the session. Rt Hon Jesse Norman MP, Financial Secretary to […]
CLS Property Insight introduces Savendale, Powered by CLS PI
CLS Property Insight (CLS PI) announces a new partnership with Savendale Insurance Services – an established company with unrivalled industry experience and expertise that will bring a focused series of offerings to private client solicitors in Scotland. CLS PI has become a market-leading provider of Executry and Guardianship Bonds by listening to the industry and […]
Housing developer incentivises buyers with SDLT extension
A housing developer is offering buyers a chance to save by extending the Government’s Stamp Duty Land Tax (SDLT) holiday. With SDLT holiday due to end on 31st March 2021, Galliard Homes has decided to extend the SDLT holiday, that was introduced by the Government in July last year, on selected developments – meaning buyers […]
Groundsure acquired by ATI Global
Groundsure, a leading environmental search report specialist involved in over half of the UK’s residential property transactions, is delighted to announce that it has been acquired by ATI Global, the world-class provider of legal technology, software and information services. Groundsure will continue to operate as an independent standalone business led by its existing management team […]
Change will continue to be the beating heart of the property market across 2021
With 2020 firmly behind us, Joe Pepper, CEO at tmgroup, comments on what might lie in store for the property market as 2021 begins to take shape in the face of economic uncertainty: As the famous saying by the Greek philosopher Heraclitus goes “change is the only constant in life”, and that has never felt […]
December 2020 – Land Registry Transaction Data
The latest data for the HM Land Registry Transaction figures have been released. The Transaction Data indicates that in December, 1,431,694 applications were completed by Land Registry. For regional applications, the South East came top with 337,929 For local authority applications, Birmingham came top with 21,069 The link to the data is here.
A superior HM Land Registry digital service planned for 2021
Estimated completion dates, automatic fees calculation and fewer requisitions are just a taste of things to come for HM Land Registry customers in 2021. HM Land Registry’s portal was launched to provide a more efficient alternative to postal applications. Conveyancers and their support staff use the portal to scan documents and submit applications online. It […]
Too early to think about PII renewals?
Our ‘Technical Corner’ brings you information that will help you to continue to grow and develop in your career. This month’s technical corner article comes from Paul Saunders, Managing Director at Legal Eye If you have any questions for our panel of experts, please submit them using the contact form below. We will publish the […]
HMRC & ASA Crackdown – Don’t throw out the Baby with the Bathwater!
In late December, it was announced that HMRC and the Advertising Standards Authority (ASA) had joined forces to clamp down on misleading marketing as part of stamp duty land tax avoidance schemes. The collaboration has set out the requirements, detailing that promoters must be clear about the potential consequences of stamp duty and other tax […]
Conveyancing vacancies buoyant despite pandemic reducing legal jobs
Conveyancing job vacancies have remained buoyant even though a recruitment website has reported showing the pandemic has reduced legal job vacancies by 60%. Simply Law Jobs have reported that the average number of legal jobs posted every month in 2020 was 60 per cent less on the previous year, while applications increased by 53% for […]
Council Stolen data allegedly posted on dark web
A criminal group, known as Mespinoza, claims to have published documents stolen from Hackney Council on the dark web. The council was hit by cyber attack last October which brought the local housing market to a near stand still as the council recovered from the impact of having its systems severely disrupted. It was later […]
Moneypenny launches outbound calling service for law firms
Leading outsourced communications provider Moneypenny has launched an Outbound Calling service for the legal sector – to help firms save time and capture more leads. The new service can be used to qualify conveyancing enquiries, handle inbound leads for personal injury and other claims, and contact wills and probate and lasting powers of attorney clients […]
AML guidance shake-up to help conveyancers
The Legal Sector Affinity Group (LSAG), which includes all UK legal sector professional bodies and supervisors, has completed an extensive revision and redraft of its anti-money laundering (AML) guidance. This replaces previous versions of the guidance and is currently pending approval by HM Treasury, although the guidance is currently available in draft form. This draft […]
Property Law: The Year Ahead
Chris Loaring, Managing Director of Landmark Legal considers what trends property lawyers and conveyancers may see as we move through 2021: “When reflecting on 2020, it was certainly not the year we had expected or planned for, yet despite the unexpected twists and turns of the last 12-months, the property market completed the year with […]
Property prices predicited to fall in the first quarter
UK’s provider of instant quotes for home moving services, reallymoving, has predicted property prices will fall by 6.2% in the first quarter of 2021. The downturn is anticipated to gain momentum every month from -1.2% in January, -2.5% in February, and -2.6% in March. Rob Houghton, chief executive of reallymoving, said: “Considering the wider economic […]