USA And EU Clash On Appropriate Anti-Money Laundering Approaches
A significant row has developed between the USA’s Treasury Department and The European Union following the implementation of stricter anti-money laundering (AML) processes that has seen a number of US overseas territories blacklisted by the EU for perceived weakened anti-money laundering approaches and laws. Following the amendments to the EU Fifth Anti-Money Laundering Directive, the […]
Index Hosts ‘Current Planning Issues and Risks Property Law Update’ Seminar
Index London North West are delighted to be hosting the Westminster and Holborn Law Society’s ‘Current Planning Issues and Risks Property Law Update’ Seminar on Wednesday 27th February at 6pm. ‘Kindly hosted by Index Property Information, 16 High Holborn, London WC1V 6BX This annual update on the latest developments in planning law will be run by Paul Addison, […]
Toxic Air Could Be Cause For Higher Depression Rates In London Teens
Exposure to Air Pollution, largely from diesel emissions, could be contributing to mental health issues in young Londoners, research has shown. King’s College London scientists found teenagers living around sources of pollution were more than twice as likely to have depression, compared to those in areas where the air is relatively clean. The study, funded […]
House Price Increases Hit Lowest Level Since 2013
House prices have plummeted to their lowest levels since 2013, according to the most recent ONS House Price Index for December. Overall, house prices increased by 2.5% in the year to December, this is a 0.2% decrease on November’s figures of 2.7%. Although the average house price in the UK will now cost £231,000 and […]
Stamp Duty Land Tax Surcharge Consultation Underway
Following the government’s vague promise to increase Stamp Duty Land Tax (SDLT) with a surcharge placed on properties bought by foreign investors during the Conservative Party Conference in October last year, the changes are about to come into force following a consultation process. Any foreign investor in UK property, specifically in England and Northern Ireland, […]
Leasehold Homes Scandal
There has been much written about the ‘leasehold homes scandal’ over the past 12-18 months and, while we have Government movement in terms of stopping future sales of leasehold homes, this might be seen as cold comfort for those for whom such legislative changes are too late. On the positive side, even before the Government […]
Search Acumen Comments On ONS Construction Output In Great Britain
Andy Sommerville, Director at Search Acumen, comments: “The UK commercial real estate sector was a rare bright spot in the last quarter of 2018, with new commercial work helping bring up otherwise poor construction figures. Property developers have spent the year worrying about just how bad the fallout from Brexit could be for the sector, […]
Elite Conveyancing And Wilford Smith Launch Joint Venture
Elite Conveyancing and Wilford Smith launch joint venture to attract top performing conveyancing lawyers. The quality-focused, national conveyancing provider, Elite Conveyancing has formed a key strategic partnership with Sheffield and London based Wilford Smith Solicitors which will allow conveyancing lawyers the opportunity to become self-employed Consultants. Essentially, Wilford Smith will become the umbrella brand for […]
Lawyers Go In-house At GP Surgeries
The Ministry of Justice is planning to put lawyers to work in doctors’ surgeries in an attempt to deal with legal problems early. The suggestion has been made as part of an official review of the 2013 cuts which saw legal aid reduced from £2bn to £1.6bn. This included a reduction in help available to […]
Hinckley & Rugby Launch Digital Mortgage Platform
Hinckley & Rugby Building Society have launched a new online digital mortgage platform designed to speed up mortgage applications. The lender worked with Danish fintech company Festina Finance to develop the system which is capable of producing an electronic decision in principle (DIP) and a fact find summary for residential properties. As well as the […]
Housebuilders Call For Urgent Planning Reform
The National Audit Office has released a report stating that the government’s planning system is under performing and cannot demonstrate that it is meeting housing demand effectively. Several housebuilders have added their voices to the criticism, saying that the planning process needs to be reformed and become much quicker to use. They want the government […]
HS2: Valuations And Compensations Going Off The Rails?
HS2 Ltd has come under stinging criticism for undervaluing property scheduled for demolition as well as delaying compensation payments. As the project gets underway, these issues underline the uncertainties and financial risks that lie ahead in its path. It sustains the misery for affected residents and sends a clear signal to potential homebuyers looking in […]
National Paralegal Day Is launched
The National Association of Licensed Paralegals has announced the first National Paralegal Day. The Association wants to recognise the vital work that paralegals carry out and the contribution they make to the legal system. There are an estimated 100,000 paralegals in the UK and it is currently the fastest growing legal sector. Paralegals work not […]
SDLT Filing Period Piles Pressure On Conveyancers
In just over two weeks time, conveyancers will have just half the amount of time that they currently have to file a Stamp Duty Land Tax Return and pay the tax. From 1st March, the period allowed in England and Northern Ireland will be reduced from 30 days to 14 days. Failure to meet the […]
Legal Cashier Jailed for Theft of £320K
Yesterday, conveyancing legal cashier, Sian Mclear-Dyer (29), was jailed for 2 years and 8 months by Chester Crown Court for stealing £320,000 from her licensed conveyancer employer in hundreds of smaller value thefts from the office account. Sian Mclear-Dyer, who had worked at the firm for a number of years before committing the thefts, allegedly […]
Equity Release Sector Potentially Facing Declining Workforce
A recent report has highlighted a potentially worrying decline in the amount of equity release advisers within the next five years. Currently, there are approximately 33,000 equity release registered advisers in the UK. However, this figure is set to decrease by 7,000 as more people are leaving the profession. As 700,000 people reach retirement age […]
SRA Becoming Increasingly Forceful With Price Transparency Compliance
Following a recent LexisNexis report claiming that over a third of solicitors have rejected the transparency rules in their entirety and only 29% of firms have fully complied with regulatory requirements, the SRA have released an amended enforcement strategy. The strategy looks at changes to reporting misconduct as well as making clear that it will […]
House Stock Exponentially Increases In January
As the NAEA Propertymark data for December suggested that available stock had increased by 20% from November’s figures, a recent property index from online estate agents HouseSimple suggests that the number of available properties coming to the market is over three times December’s stock levels. The index, that focused on over 100 large UK towns […]
Just Over One Third Of Adults Under 35 Own A Property
In the past ten years the number of younger home owners has decreased by a third according to a recent report published by the Ministry of Housing, Communities and Local Government (MHCLG). Nowadays, only 38% of people under the age of 35-years owns their own property. However, this figure has shrunk from 55% a decade […]
Stamp Duty Land Tax Receipts Reduce Along With Buy-To-Let Sector
Recent analysis of HM Revenue and Customs’ Stamp Duty Land Tax (SDLT) statistics suggest the housing market is struggling with reduced transactions which is having a huge impact on the tax accrued by the government. According to NAEA Propertymark and their subsidiary firm LCP, tax receipts for England, Wales and Northern Ireland have plummeted considerably […]