Expert Offers Insight On Queen’s Speech Leasehold Reform
The Queen’s speech was underwhelming for the housing sector but did reinforce the government’s intentions to help the leasehold sector. The Queen discussed a ‘comprehensive programme of reform to end unfair practices in the leasehold market.’ The content of the speech also insisted on protecting tenants, making home ownership more affordable and discounted for local […]
SRA Drops Proposals To Cut PII Cover
The news that the Solicitors Regulation Authority (SRA) decided to abandon proposal plans to lower the levels of professional Indemnity cover (PII) was welcomed by the Law Society. Back in March 2018, the SRA proposed to reduce the minimum level of PII to improve the balance of cost and access to legal services for consumers […]
12 Tips To Avoid HM Land Registry Requisitions
For post-completion services visit www.propertyconveyancingconsultancy.co.uk, or email PSinder@pc-consultancy.co.uk
It Might Be Twelve Days Of Christmas, But It’s Fifty Days Of Delays For Local Authority Searches
Busy conveyancers are increasingly finding that Councils are taking longer to return the results of local authority searches. Conveyancers and their clients are waiting on average about 10 days, but there have been reports of delays up to 50 days and in the case of one particular Council, up to 90 days. Mark Davies, Head […]
House Price Growth Falls To Seven Year Low
According to the Office for National Statistics’ UK House Price Index, house prices increased by 0.7% in the year to October. The latest figures also suggest that growth has fallen by 1% since the start of 2019 and over 7% since the referendum result in 2016. In the year to August, volume transactions fell by […]
poweredbypie Provides Efficient, Secure Payment Option For Searches For Comptons Solicitors
Comptons is an innovative, award winning and well established firm of solicitors situated near Regent’s Park in north west London. Set up in 1987, the firm originally dealt almost exclusively with property investment, development and dealing companies. However, over the years it expanded and now undertakes high quality property work notably lease renewal and enfranchisement, […]
Estate Agency Price-Fixing Cartel Fined
Three estate agencies have been fined over £600,000 for illegal price fixing. The Berkshire based estate agencies were found guilty of fixing the minimum commission rates they charged their customers for over seven years. The Competition Markets Authority (CMA) has found that four estate agents, Michael Hardy, Prospect, Richard Worth and Romans, colluded in a […]
GlobalX Surpasses 300k Winding Up Searches
Leading specialist information provider GlobalX has this week hit a significant milestone with its 300 thousandths Winding Up Petition Search. The firm was the first company to offer an online alternative to call Companies Court to see if there were any Winding Up Petitions lodged against a company. Previously to their offering a law firms’ only […]
Groundcharges And Leasehold Reform High On The Agenda For 2020
If there’s one thing I’ve learnt not to underestimate in the housing market, it’s the ability for the innocuous to be abused in the wrong hands. No longer can we rely on gentlemanly (or gentlewomanly) behaviour to overcome the inherent issues in our ancient land law. Take leasehold houses, for example, previously delivered with 999-year […]
Conservative Government Should Clarify Help To Buy’s Future
Despite myriad political and Brexit concerns reducing confidence in the property market this year, Help to Buy has continued to flourish. In the opening half of 2019, 25,275 transactions were completed using Help to Buy equity loans. Despite the increasing political uncertainty, the use of Help to Buy equity loans increased marginally from the 25,139 […]
Conveyancing Association Prioritise Leasehold Reform And Rentcharges
Leasehold reform, rentcharges and improved digital delivery of conveyancing services have been placed high on the agenda for a leading trade body in 2020. The Conveyancing Association (CA) has highlighted four specific areas of improvement to help create a better conveyancing process for consumers. Ensuring political figures provide further clarification for leaseholders, monitoring the use […]
Construction Sector Continues Longest Output Decline Since 2013
The UK construction sector continued its longest period of decline since 2013 as October output fell. Month-on-month construction output fell by 2.3% in October, the largest monthly fall since April 2018, according to recent data by Office for National Statistics (ONS). The fall has been attributed to a significant decrease in new work which has […]
Property Instructions Reach Near Record Lows In 2019
Market activity was stagnant in the month of the election build up as buyers and sellers continued to adopt a cautious approach. New buyer enquiries decreased for the third consecutive month to a negative net balance of -9% according to the RICS Residential Survey for November. Newly Agreed Sales also remain in a negative net-balance […]
Housing Changes Imminent Following A Conservative Majority Government
The majority has been secured and the UK is set to ‘get Brexit done,’ after three years of backbiting, bickering and in-party feuding. The Conservative Party ‘less is more’ approach to the election campaign has more than paid off gaining 47 seats and taking a majority government with 364 seats in the House of Commons […]
Emails Classed As Legal Signature Following Contentious Land Law Case
Email communications could now be classed as a legally binding agreement following the conclusion of a landmark legal case this week. Land law now has a set precedent for what constitutes an official signature following a contentious land dispute. Stavros Neocleous made an offer to his neighbour for a piece of derelict land centred between […]
UK Legal Tech Thriving In Buoyant Legal Sector
TheCityUK has released its ‘Legal Excellence, Internationally Renowned: UK Legal Services 2019’ report; showing the strength of the legal service sector in the UK and high international credentials. “TheCityUK is the industry-led body representing UK-based financial and related professional services. In the UK, across Europe and globally, we promote policies that drive competitiveness, support job creation and ensure […]
Law Society Predict Huge Sector Changes By 2027
The Law Society are urging the legal sector to embrace modernity by adapting to a more ‘deregulated environment, stronger commercial pressures and increasing adoption of technology.’ Employment in the legal sector is predicted to fall 13% by 2027, according to the Law Society’s Strategic Workforce Planning reports. Despite the number of legal professionals in England […]
Improving Efficiency Through Legal Technology
In the modern climate law firm efficiency and the implementation of technology are inextricably linked. Technology has the potential to reduce time scales, drive more efficient processes and create an increasingly smooth and transparent customer journey. According to the Solicitors Regulation Authority’s (SRA) Technology and Legal Services report, almost half of all consumers and a […]
Solving The Housing Crisis By Redistribution
Despite calls by Theresa May that is was ‘imperative that Parliament keeps the total bill as low as possible’, the estimated cost to refurbish the Palace of Westminster is an eyewatering £4bn. Although restoration of historic and iconic landmarks is rarely disputed, this amount may seem excessive to most; after all, the Shard in London […]
Standardised Wording Agreed For Government Reservation Agreement Trial
Official wording for reservation agreements has been drawn up by a sub-group of property experts and approved by the Government. The Home Buying and Selling Group (HBSG) was established in 2017 following the Government’s call for evidence which focused on ways of improving the home buying and selling process in the UK. Having already had […]