SRA Digital Badge Considered Sign Of Excellence
At the start of November the Solicitors Regulation Authority (SRA) announced that they would introduce their deadline for price and service transparency so that it would marry up with the Council of Licensed Conveyancers’ (CLC) proposed date of December 6th. Further to this announcement, regulated firms were told that from Spring 2019, they would need […]
Price Transparency’s Three Key Touch Points
After months of discussion, debate and at times confusion, Price Transparency is nearly here. I want to talk about the opportunity it could possibly create for your firm. I’ll try and stay away from the regulations, templates, averages and doing the bare minimum and look at the key subliminal message I think is sitting in […]
SRA Expectations In Regards To Price Transparency
The day has finally arrived. Price Transparency is now a regulatory reality across the majority of the legal sector. Whilst some remain confused and anxious about the changes, the SRA hope that they will mean an early Christmas present for both the consumer and legal firm. On Tuesday evening, the SRA hosted a Transparency Rules […]
Homes England Building Figures Increase For 2018
The government have been frequently criticised for failing to deliver anywhere close to their ambitions of building 300,000 new homes per year. However, the most recent figures, published by Homes England, suggests that the number of new homes being built in England are significantly increasing. Building programmes that were managed by Homes England between April and […]
400,000 Buyers Dependent on Help To Buy
New figures have highlighted that the Help to Buy scheme has now helped over 458,000 buyers gain a foothold onto the property ladder since it was launched in 2013. Of that number, 402,000 were first time buyers (FTB). The headline figures for the quarterly Help to Buy highlight the UK’s increasing dependence on the scheme to […]
SLC Chairperson Valerie Holmes Reflects On Conveyancing Sector
Working in Property Law for over 30 years, Valerie Holmes has recently been announced as new Chairperson of the Society of Licensed Conveyancers. Despite the chaotic cacophony of regulatory changes taking place this month, Valerie has kindly taken the time to share her views on the past year and her predictions for 2019. The conveyancing […]
Later Life Lending And Capacity Compliance Considerations
The importance and increasing dependence on older family members has been well documented in recent years. In fact, according to research from Legal & General, 27% of UK buyers were reliant on friends and family to help secure their deposit money in 2018. This percentage equates to a mammoth 316,600 home buyers, an increase of […]
Oxford University Research AI Benefits In Legal Sector
The University of Oxford has been given £1.2million for a research project into artificial intelligence (AI) and the benefits it could bring to the legal sector. Despite initial scepticism regarding technology in law and the exposure to potential cyber security threats, investment in technology is becoming more of a priority in the legal sector. The […]
Price Transparency And The Consumer Perspective
This time next week, the UK would have lived through twenty-four hours of price transparency in the legal sector. The numerous commentators on this issue have speculated that firms will be divided between those that consider price as the defining factor for acquiring new business and ‘race to the bottom’, whereas other firms will consider […]
The Law Society Make Changes To Conveyancing Quality Scheme
The recognised quality standard for residential conveyancing practices is being amended and changed by the Law Society. Following feedback from conveyancers and discussions with lenders, the Law Society have looked to continually improve best practice, client delivery and practice management. The updated system will place the three core values at the heart of its monitoring […]
UK Government Signposts A Propdata Revolution To Fuel Housing Reforms
In recent months, the UK Government’s commitment to housing reform has become increasingly certain – and one of the ways it is trying to underpin that is by making more property data available. A recent call by the Ministry for Homes, Communities and Local Government (MHCLG) for evidence in how to improve the house buying […]
HIPs Could Be Returning To The Home Moving Process
This weekend Teal Legal is introducing a ‘Home Owner’s Passport’ in a move which it says will speed up conveyancing. The online passport has been developed in collaboration with Keele University. The company says it “It works by interrogating conveyancing due diligence data and applying algorithms to work out how complex the conveyancing transaction is […]
Estate Agent Figures Slump to Five Year Low
It has been well reported that the housing market has hit a significant slump and even failed to enjoy the usual pre-Christmas sales boom. The latest NAEA results for October have clarified the housing market’s weak position by highlighting that sales figures are at a six-year low. The average number of registered house hunters at […]
Disorderly Brexit Could Reduce Property Prices By A Third
The Bank of England released their apocalyptic review of a no deal Brexit, claiming that residential property prices will fall by 30%. Because Carney was quick to point out this was not a formal review, many Brexiteers and even more liberal figures have dubbed the Bank of England’s announcement just before the Parliamentary vote on […]
Self-Employed Feel Discriminated Against By Mortgage Providers
Whilst the seasonally adjusted figures from UK Finance indicate that mortgages approved for the purchase of a house rose to 39,697 In October, many self-employed people looking for a mortgage feel as though they are unfairly discriminated against. According to new research, from The Mortgage Lender, 71% of people, that are self-employed, feel as though […]
Unreasonable Variable Equity Release Exit Fees Sting Consumers
Equity release loans have been an increasingly popular funding method for those in later life. Lucky home owners that have lived in their property for a significant amount of time have enjoyed huge increases in its value. Those that are property rich but cash poor have taken advantage of the fact that loans do not […]
UK Legal Tech Association Launches
The legal tech association for the UK (UKLTA) launched last week at the first Legal Technology North Conference, with over fifteen members joining the ranks within 24 hours . Membership consists of a diverse range of companies with an interest in the legal sector, including law firms, barristers chambers, technology companies and specialist conveyancing regulator […]
Legal Technology Conference For The North Of England
The LegalTech North Conference aims to bridge the gap between law and technology, bringing lawyers together with innovative tech solutions. The one day event in November will explore how technology can be used to resolve key challenges facing law firms today. The conference will also see the launch of a new legaltech incubator. Leading voices […]
The Changing Role Of Automation In The Conveyancing Sector
The latest advances in conveyancing technology will give early adopters the edge. Talk to anyone who has moved house recently and the chances are they will have something to say about the length of time it took. Speed and communication are what clients want above all in their property transaction, but far too often they […]
The Rise Of The Robots: Machine-Learning Algorithm Beats Top Lawyers
As technology advances, the media is full of stories about how robotics and artificial intelligence will soon replace humans in many professions. Testing this theory, a recent study by LawGeex set a machine-learning AI against 20 human lawyers to see how the technology would perform on the subject of contract law. The US-based corporate lawyers […]