Last-Time Buyers Continually Increase Their Market Presence
Although Last-Time Buyers (LTBs) may be overlooked when it comes to market commentary, this crucial section of the property market are thought to influence over a third of all housing transactions. According to a recent report by the Intermediary Lenders Association, the final migration of LTBs has doubled in the past ten years at a […]
First-Time Buyers Paying 12% Help to Buy Property Premium
First-time buyers (FTBs), using Help to Buy, paid an average of 12% more for their property when compared with independent buyers. According to the data, collated by Reallymoving.com, the 44,000 FTBs using Help to Buy that requested reallymoving for quotes on home services, paid £303,000 for their new home in February. In comparison, first-time buyers […]
Will The Recent 14-Point Pledge End Onerous Leasehold Terms?
Written by Beth Rudolf, Director of Delivery at the Conveyancing Association On the face of it, we recently had a very positive step forward in terms of helping existing leaseholders, with the announcement by Housing Minister, James Brokenshire, that 40 house builders/developers had signed up to a 14-point pledge designed to ‘end the practice of […]
SRA Report Criticises Conveyancers’ Communication With Buyers
The SRA’s recent Residential Conveyancing Thematic Review was damning reading for the handful of conveyancing firms that were failing to provide adequate information to their clients concerning the different types of property ownership and potential buyer implications. According to the report, 23% of the firms that were targeted and formally observed did not explain the […]
Frustrated New-Build Owners Demand Retention Scheme
90% of new-build home buyers believe the only way they can ensure developers rectify snags and home defects is to withhold a significant amount of the property’s value. Persimmon are the first of the developer juggernauts to present buyers with a ‘snagging retention’ process. Under their new scheme, buyers will be able to keep hold […]
Developers Slowly Reduce Their Approved Land Banks
Developers are continuing to create substantial land banks of application approved land that could enable the government to achieve their aim of 300,000 new homes per year. Currently, 42% of land that has been granted planning permission in 2018 is being built upon, according to recent data by the Office for National Statistics. Whilst these […]
Younger Generation Pessimistic About Their Property Ownership Chances
As property prices continue to rise in many parts of the UK despite difficult market conditions, many first-time buyers (FTBs) have been forced to reappraise their standards and expectations when it comes to the property they can afford. A recent study of over 2,000 UK prospective home owners aged between 23- and 38-years, carried out […]
Student Spotlight: Lucy Foxall Discusses Punitive Leaseholds
Government Plans Last year the Government announced their plans to “tackle unfair practices in the leasehold market”, claiming that over the last two decades, the number of new builds being sold as leaseholds have “more than doubled”. The point being that this creates a revenue for the freehold owners, meaning first time buyers are deprived […]
SRA Crack Down On Price Transparency And Inadequately Informing Clients
The Conveyancing sector has been accused of struggling to fully comply with price transparency regulations, according to an industry regulator. The Residential Conveyancing Thematic Review, conducted by the Solicitors Regulatory Authority (SRA), has found that many conveyancing transactions are costing a lot more money than the initial quote that was made to the client. In […]
Legal Eye To Host Seminar On New SRA Code Of Conduct
Specialist risk and compliance business Legal Eye will run a seminar for lawyers to find out more about the upcoming changes to the SRA Handbook and Code of Conduct. Held at the offices of JLT Specialty in London on 13th June it will be an opportunity for firms to find out more about the practical […]
Thames Water Property And Groundsure Offer Unique Free Webinar
Thames Water Property Searches and Groundsure are offering you a free webinar to consider which commercial report for which scenario. In this session we take a detailed look into the Groundsure suite of commercial products, their content and suitability for the transaction taking place. We will provide an overview on how environmental issues are dealt with in […]
Pali Launches SDLT/LTT and AP1 System
Pali’s new post-completion system enables conveyancers and support staff to submit their SDLT, Welsh LTT and AP1 forms via the Pali platform, streamlining post-completions tasks and processes through one single secure sign-on, helping them to complete all the required tasks more quickly & efficiently. Our user-friendly smart platform is seamlessly integrated with all government websites […]
Increasing Difficulties In Purchasing Property Alone
Single people who live alone are at risk of being priced out of owning their own home. According to ‘The Cost of Living Alone,’ published by the Office for National Statistics, the ability to own a property when a person lives alone is decreasing. Between 1996 and 2017 the number of people living on their […]
Cyber Security Measures Improving But UK Firms Still Vulnerable
Cyber attacks aimed at UK businesses and charity organisations appear to be decreasing. However, businesses that are targeted and attacked appear vulnerable to repeated threats. According to the Cyber Security Breaches Survey 2019, released by the Department for Digital, Culture, Media and Sport, 32% of businesses and 22% of the charity sector reported that their […]
Brexit, Regulation And The SRA Handbook
Written by Katie Jackson, Consultant at Legal Eye and Director at Honne Limited, following a Compliance Update hosted by Brunel Professions and Legal Eye Limited. The new SRA Standards and Regulations will allow solicitors to work in non-regulated practices, carrying the title ‘solicitor’. The handbook has been extensively re-written to provide a shorter set of […]
InTouch To Sponsor SLC Roadshow 30th Anniversary
InTouch are proud to announce they will be sponsoring the after-roadshow drinks reception to celebrate the 30th anniversary of incorporation for The Society of Licensed Conveyancers. The team will be attending: 8th May – Birmingham, Ibis New Street Hotel 22nd May – Victory Services Club, Seymour St, London W2 2HF 5th June – Macdonald Hotel, […]
29,000 Home Sales Fall Through Because Of Crime Rates
As crime rates have soared by 12% since 2014 and 5.8 million crimes were reported in 2018, they have been blamed for an attributing factor in cautious home buyers pulling out of their property sales. A recent report by Churchill Home Insurance found that 2.4% of all housing sales collapse every year because of the […]
Third Of Retiree Mortgage Market Made Up Of Equity Release Products
For every £1 that was accessed by the UK population over 55-years-old through a pension scheme, 50p of housing wealth was withdrawn via equity release products. Equity release has enjoyed huge annual increases over the last seven years and is now considered to be a mainstream financial planning option to help those in later life. […]
Damar Training Celebrates Legal Apprentices’ CILEx Success
Damar has been delivering apprenticeships to legal sector employers for many years and was the first to deliver the higher apprenticeship in legal services back in 2013. Since then our offer has grown to include specialist legal apprenticeship standards for: Legal administrators Paralegals Chartered Legal Executives Conveyancing Technicians Licensed Conveyancers Solicitors (in partnership with the […]
JC Lawyers Achieves The Legal Eye Quality Standard
JC Lawyers has achieved the Legal Eye Quality Standard in recognition of its proactive and robust approach to risk management. Lawyers at the Ashbourne-based firm are property specialists and as such are regulated by the Council for Licensed Conveyancers (CLC). The firm has always been enthusiastic about the delivery of conveyancing services to local people across […]