Government Deposit Schemes Paper debates deposits
In the midst of the Tenants Fees Bill that is due for Third Reading on Wednesday, the Government have published a deposit schemes paper that indicates the main problems with the existing system involve non-compliance and lack of enforcement of tenancy deposit schemes and unaffordable deposits. Amendment 28 of the scheme looked for Government to […]
Will law firms be ready if customers start to ‘shop around’ for legal services?
According to a report from the Legal Services Consumer Panel, the proportion of consumers comparing legal service providers remains unchanged year-on-year at 27%. This proportion drops even lower in certain areas of law, such as probate (16%) and personal injury (14%). The much-publicised intention to force law firms to publish their prices on their websites […]
The Conveyancing Association welcomes significant capital injection for industry regulator
The voice of the UK Conveyancer believes the funding boost for National Trading Standards Estate Agency Team (NTSEAT) will mean better compliance with CPR – and improved consumer experience. The Conveyancing Association are encouraged to hear the Government’s announcement that they are doubling the funding for the NTSEAT and believe the conveyancing industry will reap […]
Research indicates Government Help to Buy Schemes only helps wealthy people
Following a review by Government ministers, rumours are rife as to whether the Help to Buy Scheme is to be scrapped. Speculation has grown on whether or not it will be axed as recent research indicates that the scheme, which was implemented to support first-time buyers, is increasing house prices and only helping rich people […]
Liverpool Ready to launch Local Land Charges Register
The city of Liverpool, 2008’s capital of culture, is ready to be one of the first cities in England and Wales to embrace the Local Land Charges (LLC) register, a digitised service provided by HM Land Registry. The LLC system will allow solicitors across England and Wales to instantly access vital data used to carry […]
Sadiq Khan announces affordable housing partnership
Sadiq Khan, Mayor of London has announced a new housing partnership to bring 5,000 new houses to the district of London. This follows more money given to the city of London to build more affordable housing. Following Mr Khan securing £1.67 billion from Government for London in the Spring Statement, he is able to build […]
LFS Announce record number of tickets sold
LFS and headline sponsor Groundsure are proud to announce that over 400 tickets have been sold for the LFS Conveyancing Conference and Awards. Do you have your tickets to the must-have event of the conveyancing calendar? Don’t worry, there are still some available. However, the LFS Conveyancing Conference and Awards is swiftly approaching and tickets are selling fast, […]
Downsizing stamp duty exemptions would tempt more Over 65s to move
A new report, by retirement developer McCarthy & Stone, commissioned a survey of pensioners and found that over 20% of respondents would be encouraged to move into a smaller property if additional help, like stamp duty exemptions, were introduced. The statistics equate to 2.6 million people over 65 that would be willing to move, thus […]
Inheritance Imperative to a third of first-time buyers
A recent report, by law firm Collyer and Bristow, looking into home ownership attitudes and aspirations, has found that 32% of potential buyers believe that the only realistic way they can envisage finding the necessary money for a deposit is through money from a relative or through being left money following a death in the […]
Law firms must prepare for the introduction of new transparency rules in December
Risk and compliance advisory business Legal Eye is advising law firms to gear up for the introduction of new transparency requirements around price and quality of service. Legal Eye MD Paul Saunders said: “Now that the Legal Services Board (LSB) has granted the Solicitors Regulation Authority’s (SRA) application to introduce new transparency rules in full […]
Competitive market drives up credit-impaired mortgage deals on offer
Gaining a foot on the property ladder could begin to get a little easier for those that have previously struggled with finances. Moneyfacts data has indicated that mortgage deals on the market aimed at those with poor credit have increased by 118 in the last six months alone. Currently, there are 843 adverse credit or […]
HM Land Registry Reveals that land and property sales increase in July
The HM Land Registry Price Paid Data that tracks land and property sales for England and Wales has found a clear increase in all property types for the month of July. The data reveals that 95,500 sales of land and property in England and Wales in July 2018; this equates to a 12% overall increase […]
Equity release contributing to potential downsizing reduction
As the use of equity release grew past £3.06 billion in 2017 with a further 25% increase in quarter one data to more than £870 million, many speculate that equity release could replace downsizing in the future. The quarter one statistics taken between January and March indicate that over 55s released £870 million in the […]
House prices remain lower than a decade ago in 25% of UK cities
With headline cities like Liverpool, Belfast and Aberdeen still lingering below the house prices of 2008, the effects of the economic crash are still clearly being felt a decade later. The recent report, carried out by Hometrack, indicates that a quarter of the UK’s major cities’ house prices are still lower than those of a […]
Improving the ID Verification Process
In any high value business, fraud (or the potential for fraud) is a constant; the threat never goes away and in the property industry, despite an upping of the ante in terms of the fraud protection processes and systems firms have in place, this doesn’t stop criminals seeking out potential weak spots and looking to […]
Slump in demand for second homes could force Government reassessment of stamp duty
Company Black Brick has conveyed concern about the adverse effects Stamp Duty is having on the economy, according to their housing transactions this year. Throughout the first half of 2018, Black Brick’s housing transactions were exclusively for primary homes. In comparison, half of the 2017 figures were for main residential property. The statistics have therefore […]
More vigilance needed in Mortgage sector as email scams increase
£236 million was lost to fraudsters last year, according to recent information from HL Partnership. In the majority, poor security, the use of vulnerable email accounts, or clicking on seemingly innocent phishing links have been blamed for these losses. As fraudsters become more sophisticated, users of technology also need to become a lot more suspicious […]
Search Acumen comments on ONS House Price Index June 2018
Andy Sommerville, Director at Search Acumen, comments: “The UK property market takes its lead from London and the South East. While parts of the UK continue to enjoy healthy levels of house price growth, the dips being witnessed in London will no doubt be casting a sense of unease among investors in the market. […]
SRA Compensation Fund grants increase by £5 million in 2017
The SRA’s Annual Review for 2017 has found that the Solicitors Regulation Authority (SRA) awarded £15.2 million in grants from the Compensation Fund, this is a £5 million increase on 2016 figures. The average claimant claimed £22,000, with the total number of claims in 2017 topping 2,174. The majority of cases that claimed money from […]
the number of mortgage approvals continues to increase
Despite the number of housing transactions decreasing in recent months, the number of mortgage approvals have increased, according to a survey from e.serv. The survey compares the nation’s changing monthly mortgage approval figures and has found that 66,590 mortgages were approved for the month of July. This is a 1.5% hike from June’s figures. Worryingly, […]