CML concerned about Law Society of Scotland conveyancing review
At the CML Scotland Annual Conference last week CML director general Paul Smee highlighted concerns about the Law Society of Scotland’s plans to introduce separate representation. Mr. Smee said: "My concerns were redoubled yesterday when I heard of the Law Society’s review of residential conveyancing. “Surely so fundamental a shift as the move to separate […]
Increase in remortgaging helps drive lending increase
A 5% increase in gross mortgage lending in April was helped by a 10% increase in remortgage activity. According to new data released by the Council of Mortgage Lenders a total of £3.4 billion was advanced to borrowers remortgaging in April. First-time buyer activity was marginally down by 1% to £2.5 billion. However, first-time buyers typically […]
17% year-on-year house purchase lending increase
House purchase lending hit a sixteen month high in May thanks to an increase in high LTV lending. The latest Mortgage Monitor from e.surv, the UK’s largest chartered surveyor, and part of LSL Property Services revealed there were 57,076 approvals in May. With the exception of January 2012, May was the strongest month for house […]
Legal Eye launch free conveyancing CPD seminar
Legal Eye launch unique seminars on law firm compliance, risk management and marketing Legal Eye, the market leader for accreditation and compliance assessment, has launched the first in a series of vital seminars for partners and practitioners to offer practical management solutions. The sessions will offer a balanced mix of advice on internal compliance management […]
Additional 205 firms at risk of compliance breaches
In addition to hundreds of firms already under investigation, the Solicitors Regulation Authority (SRA) will be investigating a further 205 firms that appear to be operating without compliance officers. The discovery of additional firms is reportedly due to an SRA data cleansing exercise. A report written by the SRA Chief Executive, Anthony Townsend, states: “It […]
Co-operative puts mortgage arm up for sale
The tough times seem to keep coming for the Co-operative Bank. The Times has reported that the embattled bank is looking for buyers for their mortgage arm, Western Mortgage Services, which has £11bn in loans under administration and 350 employees. This follows the recent departure of the banks Chief Executive, Moody’s downgrades of their debt […]
Legal Services Board publishes annual report
The Legal Services Board (LSB) has published its Annual Report and Accounts for the year 2012/13. The report covers the third full year of the post Legal Services Act 2007 regulatory regime and describes how the LSB delivered the priorities set out in its 2012/13 Business Plan. As well as looking back at the year […]
Self-build mortgage sector withdrawal for Virgin Money
After lack of demand for the product, Virgin Money has pulled out of the self-build mortgage sector. A spokesperson said: “There was a limited demand for the product so we decided to withdraw it. It only ever made a very small fraction of our lending.” Funds under the product were only released when properties were […]
QualitySolicitors Martin Tolhurst signs up to Conveyancing Association ‘Pledges’
QualitySolicitors Martin Tolhurst has signed up to the first ever set of customer service commitments for conveyancing. The Pledges, which go further than existing regulation and accreditation schemes, were launched by the Conveyancing Association (CA) to ensure that consumers get the best possible customer service when buying or selling their home. Richard Carter, Managing Partner, […]
High Speed 2 hearing reaches Court of Appeal
A four day hearing is underway at the Court of Appeal to hear appeals seeking to quash the Government’s strategy for a new high speed railway line from London to Birmingham, Leeds and Manchester. Objectors estimate that it will cost far too much to get HS2 up and running, predicting costs of £58 billion and rising. […]
15% rise in conveyancing cases
The level of conveyancing work carried out in Britain has risen 15% over the last 12 months according to research from property search provider SearchFlow. 59% of firms saw work increasing over the last year with only 7% experiencing decreased work. These increases do not follow transaction levels which according to the Land Registry House […]
Conference to look at the future of panel management in conveyancing
A conference hosted by ConveyCentric will look at fraud identification and panel management from a lender’s perspective. The conference will take place on the 11th July at 1.30pm at The Derbyshire Hotel, Derby. The conference is free to practices regulated by the CLC. Topics covered will include fraud trends, analysis of recent case law, pointers that […]
SRA board asked to approve Compensation Fund plans
The Board of the Solicitors Regulation Authority (SRA) has been asked to approve plans to fund the cost of interventions from the Compensation Fund. The SRA has estimated that the total cost of interventions in 2013 may be £7 million greater than the budgeted costs. In April, the Board agreed to consult on the proposal […]
SRA issues warning notice over 'Lingfield Law'
The SRA has on 11 June issued a warning over an individual calling himself Jonathan Lingfield who is purporting to be Principal of Lingfield Law. The individual purporting to be Jonathan Lingfield from Lingfield Law has been in contact with members of the public in relation to property transactions. The firm purports to have an […]
Conveycentric welcomes regulator's statement on risk management tools
In a statement on their website dated the 7th June CLC commented positively on the merits of the use of risk management tools. The statement on the Council of Licensed Conveyancers site reads as follows; "The CLC encourages the practices it regulates to consider how they can mitigate risk to protect the interests of […]
OchreSoft homes in on fast-growing conveyancing team
Legal workflow specialist, OchreSoft, has announced details of its latest win in the conveyancing market. It has been appointed by fast-growing South Wales firm, Keith Evans & Co, to deliver its IntelliworksTM software across the nine-office practice. It will roll out its end-to-end conveyancing solution comprising Cloud-based content-enabled workflows and Quotes module, with the Virtual […]
Broker conveyancing reports surge in registrations
Broker Conveyancing, the broker-focused conveyancing distributor, has today (10th June 2013) reported a surge in new broker registrations using its online portal. The distributor says that the total number of registered broker users has doubled over the past two months which has resulted in a sizeable increase in the number of instructions being processed through […]
ETSOS celebrates QRS birthday with new milestone
Online search provider and conveyancing technology specialist, ETSOS, is celebrating the first birthday of its free-to-use Quotation & Referral System (QRS) with news that monthly usage levels have more than trebled in the past six months. Offered as part of ETSOS’s online search ordering portal, QRS is used by law firms to generate instant quotes […]
TM Group and GroundSure to host free seminars on the Speed of Change in Commercial Property
Swindon, 10th June 2013 — This month, two free seminars aimed at commercial property lawyers will address how to identify changes and act in the best interests of your client whilst adapting as a firm in this fast changing environment. The ‘Speed of Change’ events, held in association with TM Group and GroundSure, will take […]
CLC issues statement on risk management tools
In a statement issued today the CLC T backed the use of risk management tools as a way to minimise the risk that could face clients. The statement reads; "The CLC encourages the practices it regulates to consider how they can mitigate risk to protect the interests of clients and to minimise claims made […]