Active Firms leap 56% and transactions double from Q2 – but can the recovery last?
• The number of active firms jumped 56% in Q3 2020, rising to 3,751, up from 2,411 in Q2 2020 • Conveyancing volumes increased sharply by 105% over the last quarter, climbing to 169,143 in Q3, up from 82,385 in the previous quarter • First registrations experienced the biggest jump of transaction types over the […]
Key industry bodies open letter pushes Chancellor to extend SDLT
Key property industry bodies have come together and sent another strong open letter to Chancellor requesting an extension to the current stamp duty land tax (SDLT) holiday due to the profession being under immense pressure and stress. The Conveyancing Association joined the Society of Licensed Conveyancers and the Bold Legal Group to send a letter […]
Creating great client experiences in challenging times
We are almost two weeks into Lockdown v2.0. This time around it feels different. It is both easier and tougher to deal with in equal measure. The courts have remained open, but lots of appearances are delayed with much activity conducted virtually, we can remain working and ‘open’, but can no longer have face to […]
HMLR Seek Feedback on Digital Identity Checks
HMLR have published a draft set of requirements aimed at encouraging digital identity checks in the conveyancing sector. The draft “Safe Harbour Standard” outlines the steps conveyancers are expected to take to verify client identity. The enhanced level of check is defined by reference to a set of requirements, collectively known as the “Safe Harbour […]
ALEP Directors pen letter to Housing Minister on leasehold reform
Directors of the Association of Leasehold Enfranchisement Practitioners (ALEP) have written to Housing Minister, Christopher Pincher MP calling for an update on when the Government will issue its response to the Law Commission’s recommendation for leasehold reform. In July 2020, the Law Commission presented Government with its recommendations for reform which, if adopted, would hail huge changes to the […]
Reminder: Cancellation of requisitions from 16 November
HM Land Registry have reminded conveyancers that it will resume cancelling applications with outstanding requests for information (requisitions) from 16 November 2020. In an article on gov.uk, the reasoning is explained: At the start of the coronavirus (COVID-19) pandemic the cancellation of applications with outstanding requisitions was paused. This was done to give all of […]
Conveyancer customer service levels increase since first lockdown
Despite the bad press conveyancers are being subject to over recent months their client service levels have in fact increased. That’s the finding from the latest data released by the ESTAS customer review platform for property professionals. The findings are based on 10,000 customer reviews over the first lockdown period compared to the 3 months […]
Who says crime does not pay? Stoffel and Co. v Grondona [2020] UKSC 42
Stoffel and Co. v Grondona [2020] UKSC 42 It has been interesting to see the progression of this case through the appeal process culminating in the decision of the Supreme Court on the 30th October 2020. I assumed when I read about the decision at first instance that it would be one of those decisions […]
Stamp Duty Land Tax, MDR & Claims farms
I read David Pett’s article the other day with great interest. To summarise my view, it’s an interesting and creative viewpoint, but talking to litigators specialising in this area it is I fear not one that a High Court judge will have much truck with. To quote one recent decision “I can deal with this […]
Conveyancers set client expectations over SDLT deadline
With less than 20 weeks to go until the end of the Stamp Duty Land Tax (SDLT) holiday, and with the run up to Christmas holiday season slowing transactions down, conveyancers are faced with disruptions in the process and managing clients’ expectations. Recently, Gavin Brazag, founder of The Advisory, a property consultancy firm, believes around […]
Would you consider an auction to take advantage of the stamp duty holiday?
The infrastructure that serves conveyancing is gridlocked – is there a way forward? At times like these, more people are asking if there are alternatives to the traditional homebuyer’s journey that could be faster, so people won’t miss out on the stamp duty holiday savings. Miles Robinson, head of mortgages at online broker Trussle says, […]
Transaction delays show a need for SDLT holiday extension
Calls for an extension to the stamp duty holiday deadline continue to grow louder, with good reason, although I’ve read some commentary suggesting this is only a concern for one part of the market, and that were it able ‘to get its house in order’ then the need for an extension would be greatly diminished. […]
Tactics to Speed up the Property Transaction Process
Property transaction times have been under the spotlight in recent weeks with the frenetic housing market and countdown to the stamp duty holiday end date With conveyancing firm Martin Tolhurst last week stating that new clients’ property purchases are unlikely to hit the stamp duty deadline, and buyers understandably fraught, I believe we must see […]
Call for urgent action ahead of stamp duty holiday deadline
Solicitors’ leaders are calling for urgent action to be taken to ease growing pressure in the residential property market ahead of the stamp duty land tax (SDLT) holiday deadline on 31 March 2021. The Law Society is among key players in the home moving process who have written to the government asking for changes to […]
NHBC launches new 2021 Standards for UK housebuilders
NHBC, the UK’s leading warranty and insurance provider for new homes, has launched the 2021 edition of its technical Standards. The new Standards will be effective for every new home covered by an NHBC warranty, where foundations are begun on or after 1 January 2021. NHBC’s dedicated standards team have spent the last year developing […]
Legal aid firms adopt more agile processes in the pandemic
During the pandemic, the main focus of the Legal Aid Agency has been to help providers continue legal aid services for clients, identifying new flexible ways of working. The pandemic has created opportunities for these providers to improve their systems by becoming more agile and therefore offer a better service. Legal aid firms have their […]
Supreme Court ruling prevents liability dodging
The Supreme Court has ruled that negligent conveyancers shouldn’t be able to avoid liability because it later emerges that their client was engaged in mortgage fraud. The Court revealed that if a conveyancer did this it “would be a disincentive to the diligent performance by solicitors of their duties.” Lord Lloyd Jones said: “[Conveyancing solicitors] […]
Cyber Hack slows Hackney Housing Market
A cyber attack on Hackney Council has brought the local housing market to a near stand still as the council recovers from the impact of having its systems severely disrupted. While the exact nature of the attack has not been revealed, the suspicion is that it was some sort of ransomware attack; a scenario in […]
Index Announces Integration with HelloSign, a Dropbox Company!
Index is excited to announce the introduction of HelloSign – secure electronic signatures for all clients and staff. Here at Index, we continually look at how we can add value to our clients’ businesses. Adding the HelloSign integration to our range of services enables our clients to offer to their clients the ability to quickly […]
Experts argue MP’s claim that lockdown will disrupt conveyancing process
Conveyancing organisations have disagreed with claims made by Tory MP Bob Neill in parliament that the lockdown will play havoc with house buying and selling transactions during this period. In his claim, he used conveyancers as an example, believing property transactions will be disrupted by the lockdown as a lot of people will not be […]