£91 million ploughed into empty and derelict homes
The Communities Minister Don Foster has announced that 6,000 empty and derelict homes will benefit from a £91 million fund to bring them back in to use. The money will be used to address issues such as squatting, rat infestation and collapsing house prices, driving remaining residents away. Funding is being allocated under two programmes; […]
Unexpected fraud hot spots should be warning to conveyancers
Altrincham in Cheshire has been identified as the top location for identity fraud outside London. The global information services company Experian has revealed that the Cheshire town recorded 13 fraud attempts for every 10,000 adults, with residents targeted at over three times the national average. The perhaps surprising appearance of green and leafy Cheshire at […]
Signs for optimism as house prices pick up
Despite a yearly decrease of £1,982 from the year to April 2013 prices are up £2,430 from than December 2012. The latest figures from LSL Property Services also show the average house price is now £143,965. Alan Penman of Walker Fraser Steele, part of LSL Property Services, said: “There has been an uplift in […]
Mortgage broker receives record £1m fine
The Telegraph has reported that a record fine of £1m has been handed to Birmingham-based mortgage broker Gurpreet Singh Chadda. The Financial Conduct Authority (FCA) said Mr Chadda had told customers the price offered was based on an independent valuation of their property, when this was not the case. In some cases investigated the seller […]
CML figures show lending at long-term high
It is estimated that May 2013 saw the highest level of gross mortgage lending since October 2008. The latest figures from the Council of Mortgage Lenders estimate that total gross mortgage lending in May increased 21% from April to £14.7 billion. This figure is up 17% from the total of £12.6 billion in May 2012. […]
HMRC figures show transactions on the increase
The latest HMRC Property Transaction Statistics show that the seasonally adjusted estimate of the number of residential property transactions increased by 6% between April 2013 and May 2013 to 83,740 residential transactions. This represents an increase of 9% from the same period last year. Over the last 18 months transactions have been fairly flat with […]
Land Registry e-DRS system enhanced
The Land Registry has made enhancements to their electronic Document Registration Service (e-DRS). Business customers who are signed up to e-DRS can now submit electronic applications that contain a plan including: Deeds of Grant, Agreed notices (AN1) and cancellations (CN1), Unilateral notices (UN1) and removals (UN2) or cancellations (UN4), Restrictions (RX1) and withdrawals (RX4) or […]
Law Society of Scotland to consult on conflict of interest rule change
The Law Society of Scotland has launched a consultation with solicitors, lenders and consumer interest groups on proposals to change its rules on conflict of interest in property transactions. At the moment a single solicitor can carry out work for a client wishing to buy a residential property and their lender, however, solicitors voted in […]
Alert: PII firm Balva Insurance licenses suspended
Around 1,200 firms are affected by the suspension of unrated Latvian professional indemnity insurance firm Balva. Yesterday, the Latvian regulator (FKTK) decided to withdraw all the operating licences issued to Balva. The news follows several recent warnings on the dangers of using unrated insurers. The Law Society has warned affected firms to think very carefully […]
Property bodies announce new Presidents
The National Association of Estate Agents (NAEA) and the Association of Residential Letting Agents (ARLA) have both announced new Presidents. Jan HÓ±tch from Arnolds Keys LLP has been appointed President of the NAEA while Susan Fitz-Gibbon, of Fitz-Gibbon, takes over as ARLA President. Jan HÓ±tch began her career with Arnolds in 1993 and rose through […]
Party Wall Act (1996) guidance updated
The government have updated their guidance on the issue of The Party Wall Act 1996. The Party Wall etc Act 1996 provides a framework for preventing and resolving disputes in relation to party walls, boundary walls and excavations near neighbouring buildings. A building owner proposing to start work covered by the Act must give adjoining […]
BSA warns of future house price bubble
20% of first time home buyers say Government schemes like Help to Buy will help them get onto the property ladder. The BSA’s quarterly Property Tracker report revealed that raising a deposit remains the single largest barrier to home ownership, with 54% of those wishing to buy saying it is their main deterrent. Property Tracker […]
Leading Solicitors PI Insurance Broker endorses compliance management system CLIENTCAREmonitor
St Giles Legal and Professional Risks, specialist brokers in the field of solicitors professional indemnity insurance, has announced its endorsement of CLIENTCAREmonitor the online compliance service designed specifically to meet the requirements of the new regulatory regime. The system was created by the the legal risk software house Conveycentric. Conveycentric has enjoyed a close working […]
A Well Earnt Break for CILEx Student as PSG Announce Title and Legal Insurance Competition Winner
Conveyancing Assistant Annie Scrancher of Bromets Jackson Heath in Tadcaster, was this week announced as the lucky winner of the PSG Title and Legal Indemnity Insurance Competition earning her a prize of five hundred pounds of holiday vouchers. Annie, who has worked at Bromets Jackson Heath for 3 years, says of winning the competition “When […]
SRA reveals details of conveyancing thematic review
The SRA said last week that firms may be running the risk of exposure to money laundering by thinking “it won’t happen to us”. Laura Holloway, Risk Analyst at the Solicitors Regulation Authority (SRA), spoke on Friday to an all-members meeting of the Conveyancing Association. She explained that the SRA’s recent thematic review of conveyancing […]
SRA issues warning over 'Chameleon Solicitors'
The SRA has on 14 June published a scam alert over “Chameleon Solicitors” who are claiming to represent sellers on a property transaction in the West Midlands. “Chameleon Solicitors” are advertised on a variety of directory websites, linking to an address at 63 Pershore Road, Kings Norton, Birmingham, West Midlands, B30 3DR. The directory listings […]
50 new jobs at Moneypenny
Telephone answering specialist Moneypenny, endorsed by The Law Society and supporting more than 700 law firms across the UK has created 50 new jobs so far in 2013 with the likelihood of more to come. The latest appointments take the total to over 300, with four staff at any one time based in Auckland, New […]
Conveyancing firms slated on twitter.
Twitter is used by 10 million people in the UK. 67% of them are following a brand. Sometimes conveyancing clients can be wonderful and say positive things. Aston Bond will be proud of the following two tweets from the same lady who runs a composting business. “@EdwardsKatie no probs :o) Vicky is a fantastic […]
Expanding Property Law Firm Seeks New Recruits
One of the UK’s leading conveyancing firms will host a recruitment evening on June 26th in Daventry in a bid to find property lawyers, case managers and graduates seeking a career in conveyancing. Ashley King, Chief Executive of Simply Conveyancing Property Lawyers is looking for new talent able to take on the challenges of the […]
Panel calls for dramatic reform of financial protection
A consumer panel has called for the merging of professional indemnity insurance and compensation to be actively explored. The Legal Services Consumer Panel has published a report looking at whether the legal regulators financial protection regimes are fit for purpose. Their report was published in response to the Legal Services Board’s request for feedback on […]