After Conservatives scrap 99% mortgages, analysis suggests scheme ‘could have destroyed the capital investment of an entire generation of buyers’

After the Conservative Party have scrapped their 99% mortgage policy which was rumoured to be announced in the upcoming Spring Budget, analysis said the scheme would actually ‘cost first time buyers more’. New data from estate agents Yopa suggests that ‘this political backtrack actually benefits homebuyers in the long-run’. Initially, the public speculated that the […]

Law Society implores government to ‘take steps needed for growth’ ahead Budget

The Possible Backfire From Changes to Stamp Duty

Ahead of the Spring Budget on March 6, the Law Society is calling on the UK government to ‘take the steps needed to enhance growth in legal services’. In what may turn out to be an election year, Chancellor Jeremy Hunt could unveil crowd pleasing property proposals – with legal experts speculating on murmurs about […]

Law Society frustrated and concerned

Following the third reading of the Renters Reform Bill on Tuesday this week, Nick Emmerson, President of the Law Society has shared his thoughts. “We have been increasingly frustrated by the government’s delays in reforming the rental market and are disappointed with the obstacles being placed in the way of implementing the abolition of no-fault […]

3 in 4 movers “satisfied” with home moving experience

3 in 4 home movers indicated they were “satisfied” with their home moving experience, although “a faster move” and “more frequent communication” featured highly on ways to improve to the conveyancing process. 1 in 3 UK adults would consider themselves to be aware of what conveyancing is; and recommendation remains the largest route to market […]

Redbrick Solutions upcoming webinars

Redbrick Solutions

Redbrick Solutions are sponsoring the upcoming webinars with IQ Legal Training in February and March. The first on avoiding negligence claims in residential conveyancing and rights of way and highway issues – tips and traps for conveyancers. Avoiding Negligence Claims in Residential Conveyancing | IQ Legal Training Webinar  Tuesday 20th February | 11:30am – 12:30pm […]

Mortgage approvals indicate more people looking to move

Bank of England mortgage approval data suggests that more people may be looking at moving home in the first part of 2024. The latest figures, which show that mortgage approvals for house purchases rose from 47,900 in October to 50,100 in November, must be set against the overall downward trend seen since the peak over […]

Practice Directions: Upper Tribunal Lands Chamber

The Judiciary have shared the Practice Directions made by the Chamber President of the Upper Tribunal, Lands Chambers, Mr Justice Edwin Johnson.  These Practice Directions explain the Tribunals’ approach to managing various types of disputes and apply to all parties (including those representing themselves) and are made with the approval of the Senior President of Tribunals […]

Land Registry completed applications down compared to October 2023

HMLR practice guide

HM Land Registry have just released their November 2023 transaction data, covering what they have managed to process during the last time period. They note that this is not necessarily a reflection on market activity. In November, the Land Registry completed more than 1,793,400 applications to change or query the Land Register (with the South […]

“Partial recovery” expected for 2024 property market

A “partial recovery in market confidence and transaction volumes is expected in 2024 as interest rates ease and affordability improves” according to the Halifax UK Housing Market Review and Outlook for 2024.  The review was released last week alongside UK Finance predictions for transaction volumes and mortgage lending in 2023/24 and the latest Royal Institute […]

Final chance to enter The British Conveyancing Awards 2024

The deadline for entry to the prestigious British Conveyancing Awards, sponsored by Groundsure, is just hours away with firms up and down the country showcasing their expertise, raising their profile, and celebrating excellence across the conveyancing profession. Introduced in 2021 to recognise the response of the property community to the challenges presented the covid-19 pandemic, […]

Navigating the Future: My Predictions for the Property Market in 2024

As I look ahead to 2024, I foresee transformative shifts in the property market driven by a range of initiatives, aligning with my vision for a more streamlined and transparent home buying and selling experience. In my view, the introduction of NTSELAT Parts B & C Material Information Rules signifies a further move towards best […]

1m home moves predicted in 2024

Mortgage lending is predicted to fall to pre-Covid levels according to UK Finance figures released this week. Lending for property purchases has fallen by 23% in 2023, and is predicted to fall a further 8% in 2024 before a small recovery in 2025. The result is that lending will return to levels last seen in […]

“Time is money” says PE-backed outsourcing specialist

“In the fast-paced world of conveyancing, time is a precious commodity” says Adil Hamid, Business Development Director at Auxilio, a private equity backed legal outsourcing service.  “Auxilio enables busy fee earners, managing 50, 80, even 100 files simultaneously, to not only reclaim their time but master it. We do this by working behind the scenes, […]

Scrapping leasehold could cost £31bn

Plans for Leasehold reform, first announced in the King’s Speech and the subsequent Leasehold and Freehold Reform Bill, could cost the taxpayer millions of pounds in compensation. Trade body the Residential Freehold Association (RFA) has said that the compensation to investors for plans to retrospectively introduce a cap on grounds rents could cost as much […]

Building a fully digital property market: what is it and why is it happening now?

There’s no two ways about it, the property market is fragmented.  In a bygone age property transactions were much simpler and efficient. Physical cash, deeds, and contracts were exchanged in person as property changed hands in a fraction of the time it does today. However simpler it may have been, this was never a scalable […]