The impact of Covid on turnaround times in a conveyancing transaction?
Lockdown, mortgage payment holidays, a rise in mortgage applications and the move for many staff to home working has impacted on turnaround times but improvements are being made. The Building Societies Association said in some instances the time period between mortgage offer and completion has been longer than normal, but there are also examples where […]
Challenges and opportunities of Brexit for construction industry
It was with much anticipation that the construction industry waited to find out exactly what was included in the new planning laws of July 2020. The changes announced by Robert Jenrick, the Housing Secretary, are focused on speeding up the processes that supply new homes to market, and helping breathe new life into town centres […]
England to be in the two toughest tier levels after lockdown
Health Secretary Matt Hancock sets out tougher rules for England’s new coronavirus tier system. As we come out of the second lockdown in a bid to protect vital services in the fight against the virus, Hancock confirmed that most of England will now be in the two toughest levels of measures when lockdown ends. After […]
How the pandemic has marked a turning point in the use of e-signatures
During the first national lockdown the housing market saw a period of reduced activity, closely followed by a boom fuelled by pent-up demand and the introduction of a stamp duty holiday. Data from the property portal Zoopla suggests pipeline sales are now up by 50% on the same time last year. Demand in all parts […]
LSB plans to galvanise efforts to reshape legal services
A new report by the Legal Services Board (LSB) gives an in-depth review of the legal services sector following ten years of independent regulation. The State of Legal Services 2020 report is informed by data, evidence and conversations with a wide range of individuals and organisations over the last six months and research by the […]
Is Caveat Emptor the key to Conveyancing Reform?
The past couple of years has been full of discussion on how to improve the home buying and selling process. Indeed, at a roundtable meeting held by the Council for Licensed Conveyancers (CLC) it was noted that the rapid adoption of technology due to Covid-19 could see the conveyancing process move from an emphasis on […]
The SDLT holiday & lockdowns: a perfect storm for technostress
Over the course of 2020, those working in residential conveyancing have had a rollercoaster ride of epic proportions. With the effective closing down of the residential property market in the first lockdown, followed by the unprecedented high levels of demand created by the lifting of restrictions, and indeed by the Stamp Duty Land Tax (SDLT) […]
Honeymoon inspiration – client service
Written by Alex Holt, Director of Business Development at The Cashroom I promise I didn’t spend my honeymoon in Cornwall thinking about the legal sector and business generally. That would be tragic, and may well be the sort of thing that would lead to a very brief marriage. However, when I got back to my […]
Chancellor must avoid knee jerk reaction to tax increases
The Chancellor must avoid a knee jerk reaction to tax increases according to a leading property management firm. Apropos by DJ Alexander, a UK-wide letting firm, believes that the widely trailed increases to capital gains tax (CGT) will have an unprecedented negative impact upon the private rented sector (PRS) and the wider housing market. If, […]
Don’t Let Lack Of Time Lead You Into Trouble
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 Amy Bell, CEO at Teal Compliance If you have any questions for our panel of experts, please submit them using the contact form below. We will publish the […]
Significant rise in Conveyancers ordering ‘out of hours’ searches
There has been a significant increase in the number of property searches being submitted ‘out of hours’ by conveyancers. The extreme challenges and difficulties of coronavirus has impacted greatly on the conveyancing industry causing the profession immense pressure and stress. UK’s largest provider of legal due diligence for commercial and residential property transactions, Searchflow, and […]
Is the high street really dying?
On 4th November 2020, the Women in Residential Property network met for yet another engaging industry discussion; this time, about the future of the high street. Hosted by WiRP Chair Emma Vigus (also MD of mio), guest speakers Damian Sumner, Partner at Brasier Freeth, and Trevor Watson, Director at Davis Coffer Lyons, shared their first-hand […]
Selling a House with a Septic Tank : Does it comply with legislation?
Homeowners with septic tanks in England need to check if their tanks comply with recent changes in the law governing off-mains drainage. If they don’t, the owners may find it impossible to sell their properties in future. Thousands of properties in rural areas currently rely on private drainage arrangements, primarily septic tanks, to dispose of […]
The most effective way for conveyancers and lenders to communicate
The Covid-19 pandemic has led to delays in all parts of the home buying process with conveyancing and searches bearing a heavy toll. Today’s Conveyancer spoke to a few lenders about how to improve relationships with conveyancers and many said early and regular communication is key using a mix of phone, emails and web based […]
Search Acumen comments on HMRC’s Q3 2020 SDLT receipts
• Stamp Duty receipts rise 27% over the last quarter, increasing to £1.9bn in Q3 2020, up from £1.5bn in Q2 20201 • Number of property transactions liable for Stamp Duty jumps 68% over the last quarter, rising to 250,500 Q3 2020, up from 149,000 in Q2 20201 Andy Sommerville, Director at Search Acumen, says: […]
SearchFlow responds to ONS House Price Index
SearchFlow, the UK’s leading property search provider in residential and commercial markets, today responds to the latest House Price Index from the Office of National Statistics, which shows a rise of 4.7% in the year to September 2020, with average prices now standing at £245,000, a rise of £11,000 since September 2019. Dr Tom Quirke, […]
Digital Identity Group – Digital Identity Trust Framework for homes sales sector, releases project overview
Following on from the hugely success Digital Identity Group meeting in October, the project has released details of its plans to build a Digital Identity Trust Framework for the property sector. The project overview, which has been pulled together by Stuart Young of Edinburgh-based Etive Technologies, seeks to tackle the longstanding challenge of multiple identity […]
Conveyancers address potential transaction termination if deadline missed
A large website-based price comparison business has revealed that as many as a quarter may pull out of their property transaction if they miss the stamp duty holiday deadline. Last month MoneySupermarket surveyed 2,000 people who are currently buying property, it revealed that 24% said they would terminate the potential purchase if they think it […]
Movers and Shakers – 20th November 2020
Here at Today’s Conveyancer, we wanted to share with you the good news we’ve had within in the industry of professionals joining firms and those who have moved up the promotional ladder. This week we’ve seen the following announcements with regards to appointments and promotions: Richard Bray joins the Board of CoPSO The Council of […]
Hackney Council SDLT deadline missed for searches
Hackney Council is the very first local authority to confirm that searches will now miss the stamp duty holiday deadline. The reason behind the announcement was due to an advanced criminal cyber attack which has left the Local Authority unable to process searches. The Council is now working with the National Cyber Security Centre and […]