One In Seven Homeowners Using Mortgage Holiday
One in seven mortgage holders in the UK are now subject to a mortgage payment holiday. According to UK Finance, over 1.6 million mortgage payment holidays have been utilised by homeowners affected by Covid-19 saving an average of £755 per month. More than 1.2 million mortgage payment holidays were approved between March 25 and April […]
Housing Market Set For Short Sharp Contraction
UK housing transactions could fall short of projections by between 38 and 53 per cent in 2020, according to recent speculative data. According to economic projections, Savills has predicted a ‘short sharp shock’ in UK housing transactions as a result of frozen activity caused by government interventions introduced to slow the spread of Covid-19. The […]
Inside Conveyancing Conference And Awards Announces New Date
Due to the continued uncertainty caused by the Coronavirus situation, the Inside Conveyancing Conference and Awards has been put back until the 3rd March 2021. The Inside Conveyancing Conference and Awards, formerly known as the LFS Conference and Awards, is the largest and most prestigious event in the conveyancing calendar. Held annually in Birmingham, the […]
Diary Of A Highstreet Conveyancer – Monday March 30
Monday New guidance was issued this morning – a Variation Agreement to cover those who have already exchanged contracts and are now unable to complete due to the Government restrictions. It is so stressful for people moving house at the best of times but in these uncertain times, it is important to be aware of […]
Sector Endured Four Worst Performing Weekdays Last Week
The four worst performing weekdays for searches and loans documented in March took place between Tuesday and Friday last week. Friday March 27 represented the lowest value of loans documented in March, down 21.75 per cent on two weeks ago, and 25.24 per cent lower than the week previous. The value of loans documented has […]
Clarity Needed On Critical Home Moves
Developers in the residential property sector are calling on the government to provide greater clarity on what is deemed a ‘critical home move’ under the new Guidance released last week. Critical Home Moves are exempt from the police’s new powers to sanction non-essential movement if an alternative date is unable to be amicably reached. However, […]
It’s Time To Fall Back In Love With The Phone
Bernadette Bennett, Commercial Manager – Legal at Moneypenny, explains why it’s a good call for organisations to focus on answering the phone – and doing it well – during unprecedented times. Over recent years, we’ve seen huge investment in digitalisation. The options for communicating with legal professionals have diversified to include platforms such as Instagram, […]
Diary Of A High Street Conveyancer – Friday March 27
Friday I had two completions today – both were completed quickly – one was the purchase of an empty house by a first time buyer, the second the sale of an empty house. In the current climate, these are the best transactions you can have. The purchase of the empty house was interesting in that […]
Conveyancing Market Stakeholders Produce Industry Coronavirus Guidance
The following press release was written bu The Conveyancing Association (CA) and offers fresh advice for conveyancing professionals concerning transactions whilst the UK is on lockdown. The Conveyancing Association (CA), the leading trade body for the conveyancing industry, has today endorsed industry-wide guidance to conveyancing firms advising clients on house moves during the Coronavirus crisis. […]
Surveyors Demand Suspension Of Transactions
The surveying community is the latest sector urging the government to suspend housing transactions until government restrictions are lifted. Surveyors are calling on the government to provide clarity on their situation after recent grants and advice have left them vulnerable both financially and the outbreak. In a letter to the government, the Residential Property Surveyors […]
Property Fall Through Rates Increase In March
In the past month property fall through rates have increased by 45 per cent. Between February 17 and March 16, the number of aborted property sales has increased from 5,114 to 8,364, according to a recent client briefing from TwentyCi. Unfortunately, this figure is expected to rise unless the government suspend activity in the sector […]
Union Says Home Working Should Not Be Just For Fee Earners
The Legal Sector Workers Union (LSWU) has stated that in the current circumstances home-working should not just be for fee-earners, and that those who are working at home should “show solidarity” with their administrative staff who have not been allowed to work from home. The Union expressed outrage last week at the “classist allocation of […]
High Court Sheds Light On A Dimly Lit Property’s Right To Light
In the recent case of Beaumont Business Centres Limited v Florala Properties Limited (Beaumont Business Centres Limited v Florala Properties Limited [2020] EWHC 550) the High Court reiterated that the court can and will grant an injunction to protect a right to light, rejecting any suggestion that a poorly lit room wouldn’t benefit from this […]
Diary Of A High Street Conveyancer – Thursday March 26
Thursday As I sat at my desk this morning, I looked across the road and saw that the firm, directly opposite my offices, had their blinds closed. I had heard from a friend who worked there that they would be closing the offices and working from home, but it shocked me. It reminded me of […]
Government Put Brakes On Housing Transactions
The government has issued a plea for stakeholders in the home buying and selling process to do all they can to delay home moves until restrictions to reduce the spread of the coronavirus are lifted. Robert Jenrick has stated that, even if the legal exchange has taken place, both parties should ‘amicably agree’ a new […]
Number Of Active Buyers Continues Falling
Search volume has now decreased by over a third within a two week period of time. The overall volume of searches on Wednesday March 25 was 24.02 per cent down on the same time last week and 33.36 per cent lower than the number of searches two weeks ago. The volume of documents prepared on […]
Improvements Are Happening In The Legal Sector
The Legal Services Consumer Panel has recommended that there are more use of fixed-fees and an increase in the Solicitor Regulation Authority’s fining powers as well as a comparison style website giving customers an indication of service each firm provides. These recommendations have come on the back of the Competition and Markets Authority’s (CMA) 2016 […]
Promoting Positive Wellbeing For The Legal Sector
Leading online news publication Today’s Conveyancer is pleased to announce the addition of LawCare to its roster of partners. LawCare is an independent charity offering emotional support, information and training to the legal community in the UK and Ireland and will offer some much needed support to our community during this difficult time. The charity […]
Two Thirds Of Construction Sector Down Tools
Almost two thirds (63 per cent) of builders feel as though the government are letting them down by failing to provide clear instructions about the sector whilst the UK is on lockdown. The majority of building companies and their employees feel as though the government should provide declarative guidance for the sector and open up […]
Introducing OneSearch Transact
INTRODUCING ONESEARCH TRANSACT: PROVIDING PROPERTY SEARCHES CERTAINTY AMID CORONAVIRUS OUTBREAK OneSearch Direct, the largest local search data company in the UK, has today announced the launch of OneSearch Transact; a data-led transaction solution that provides property solicitors with access to required residential conveyancing searches and environmental reports, backed by insurance to safeguard new and existing […]