Could Stamp Duty revenue fund new housing?
According to housing association Network Housing Group the revenue from Stamp Duty could lead to a 91% increase in affordable housing. A London Finance Commission report recommends wide reaching changes to taxation and spending, including control over business rates, stamp duty and other taxes to be passed to the Mayor. Annual Stamp Duty generates approximately […]
Scottish house prices rise for third month in row
According to the latest figures from LSL Property Services Scottish house prices climbed £1,082 in March. Prices have now increased by £3,776 in 2013 taking the average price to £144,615. Richard Sexton, director of e.surv chartered surveyors, part of LSL Property Services, said: “Although the Scottish housing market has had to battle with a lack […]
Co-operative strive to maintain customer confidence
The Co-operative Bank is trying to reassure its customers that it will not need a multimillion-pound taxpayer bailout following the departure of their Chief Executive and Moody’s downgrades of their debt status. Several weeks ago we reported on the banks decision to pull out of a deal to buy 632 branches from Lloyds Banking Group. […]
Disaster Planning for Law Firms
A new business guide has been launched online today by one of the UK’s leading Cloud and IT service providers, to help businesses in the legal sector survive a potential disaster. Managing costly power outages, IT failure, flooding and even terrorism are some of the potentially damaging scenarios examined in the ‘Would Your Business Survive?’ […]
Right to Buy reaches new high
The number of Right to Buy homes sold between April 2012 and April 2013 reached 5,942, the highest level since 2007. According to the latest figures, released by the Department for Communities and Local Government, this was a doubling from the previous year. 2,449 properties were sold in the first quarter of this year, more […]
CML report increased first time buyer activity during March
The Council of Mortgage Lenders (CML) released data this week showing an increase of 20 per cent in the number of first time buyers during March. The increase in loans to first time buyers from 15,900 in February to 19,100 in March, and a slight increase in home mover numbers both contributed to a monthly […]
Over 95% of new NHBC Buildmark acceptances completed online
Since NHBC launched Manage Buildmark Acceptance (MBA) in November 2012, of the policies which have been registered and accepted, 95% have been completed online. The MBA system allows conveyancers and builders to easily manage the acceptance of Buildmark process. There are no paper acceptance packs to store or send anymore, and Policy Numbers and Activation […]
Repossessions stabilised says CML
The Council of Mortgage Lenders (CML) has published data showing the rate of lender repossessions in quarter one are down on the same period last year. Lender repossessions remained at 0.07 per cent, the same figure as the three previous quarters. The figures released last week showed that 8,000 homes were taken into possession by […]
Is Equity Release the answer to the looming interest-only crisis?
Data released by Key Retirement Solutions last week shows an increase in consumer confidence in the use of equity release. The Equity Release Market Monitor shows a record 27 per cent increase in the average amount of equity released during the first quarter. The first quarter of 2013 saw consumers release £56,710, up on £44,519 […]
Be ‘Scam Aware’ warns SRA
May is Scams Awareness Month and the Solicitors Regulation Authority (SRA) is urging consumers buying legal services to be ‘scam aware’. The SRA report that they have seen an increase in bogus solicitors over a period of two years and regularly release updates on their website. The scams can take a various different forms, including: […]
RPSA calls for more education surrounding property surveys for consumers
The Residential Property Surveyors Association (RPSA) recently hosted a conference where members saw presentations which covered key issues having an impact on the profession. Global Residential Director at RICS, Peter Bolton-King, spoke about the key findings from a recent RICS survey into property survey options and the lack of awareness from home buyers. According […]
North West firm continues London expansion
North West based law firm, Stephensons Solicitors, continue its expansion plans with a second office opening in London. The new premises at 1 Lyric Square, Hammersmith, W6 is the second London based office to be opened in the last two months and will open on Monday 13th May. The firm’s first London office, Royal Mint […]
CML data shows growth in buy to let lending
Council of Mortgage Lenders (CML) data released yesterday shows gross mortgage lending is up compared to the same period last year (£3.7 million). Over £4 billion was advanced to buy to let landlords throughout the first quarter of 2013 although almost half of this related to remortgage and not house purchase. According to the CML […]
Search industry calls on Land Registry’s new head to take urgent action to address concerns over plans to reform its land charge registers
The Council of Search Organisations (CoPSO) is calling on Ed Lester, the recently appointed new Chief Executive of the Land Registry to urgently address a number of concerns raised over its local land charges prototype. CoPSO, which represents over 90% of the search industry, is requesting a meeting with Mr Lester, where it hopes to […]
Risk and Compliance
Compliance Plans, Risk Register, Client Care, Code of Conduct, COLP/COFA, Business Continuity, Outcomes Focused Regulation! All terms we see all too often within the legal profession. “Compliance” has taken the industry by storm but has left lawyers in a state of confusion and anxiety. There are so many different facets to consider when referring to […]
MTA acquires volume conveyancing firm
MTA Solicitors have acquired Solex Legal Services, Legal Futures were able to reveal earlier this week. MTA, an ABS firm, say they are making good progress with their programme of diversification. The firm has recently acquired the Bromley based volume legal services firm, Solex Legal Services. As well as volume conveyancing and remortgage services, Solex, […]
SRA issue reminder for Solicitors Roll
The Solicitors Regulation Authority (SRA) has issued a reminder of the deadline for those Solicitors without practising certificates to remain on the Solicitors Roll. Solicitors who do not have a Practising Certificate only have a further six weeks in which to apply to remain on the Roll with the cut-off date being Tuesday 18th June. […]
STL to provide services to LawNet firms
As part of its commitment to helping conveyancers stay ahead of the competition, reduce costs, improve efficiencies and profitability, LawNet has launched a new arrangement with search specialists STL. When asked ‘Why STL?’, Helen Hamilton-Shaw, Director of Services at LawNet said, “Because their aims and ethos closely match our own and we believe they can […]
Tim Higham considers the new TA6
This week marks the launch of the third edition of the Property Information Form (TA6) which most home movers will recall is the general questionnaire which sellers complete to provide buyers with useful and practical answers to pertinent/standardised questions which may affect their decision to continue with their purchase or not (e.g. have there been […]
Free CPD Compliance webinars
Free CPD Compliance webinars in May and June from TM Group. Helping you find workable solutions to your compliance requirements and ways to mitigate risk effectively. Places are limited, so please book today. With speakers from Jet Convey, Lawyer Checker and Lockton, you can be assured that the latest issues in compliance will not only […]