Property transactions at five year high
The HMRC have released their latest set of data relating to the number and aggregate value of property transactions in the UK. There were 932,000 completed transactions of a value above £40,000 last year, up 5% from 2011. Sales had increased in the final quarter to 237,000 transactions, a 4 per cent increase on the […]
Conveyancing Awards announced
Law Firm Services Limited has announced they will be hosting the second annual Conveyancing Awards. The awards for 2013 are now open and all firms involved in residential conveyancing are invited to enter. The 2012 awards saw Stephensons LLP crowned overall conveyancing firm of the year. The organisers have stressed that whether a small firm […]
Surveyors warn of Green Deal concerns
The Residential Property Surveyors Association (RPSA) has raised concerns over the mechanism and risk to conveyancers, ahead of the launch of the Government’s Green Deal on Monday. Chairman of the RPSA, Alan Milstein, said: “The Green Deal is a strong concept that could significantly help homeowners and tenants to reduce their energy consumption and as […]
Tomorrow’s Lawyers: An Introduction to Your Future
Sarah Hill Wheeler joins the conversation about Richard Susskind’s new book. Isn’t this just another book about lawyers, written by an Ivory Tower academic? No. True, Professor Richard Susskind is an academic. Adviser to the Lord Chief Justice and Honorary Professor at UCL, Susskind’s specialism is the future of professional services, particularly the impact of […]
PMQ mention for conveyancing
At yesterday’s Prime Ministers Question Time, Liberal Democrat MP for North Cornwall and former Shadow Minister for the Environment, Housing, Arts and Heritage, Dan Rogerson asked the Prime Minister a question relating to mortgages. He asked: “Given the keen interest of the Prime Minister in single markets, will you look at mortgage lenders restricting legal […]
SRA launches review of Solicitors’ Compensation Fund
The SRA has launched a comprehensive two-year review of solicitors’ compensation arrangements. The review will inform future policy decisions. Currently all firms who hold client money contribute to the Compensation Fund. The purpose of the Fund is to replace money that a client has entrusted to a solicitor in his professional capacity, where the solicitor […]
Advanced legal apprenticeship announced
The Chartered Institute of Legal Executives (CILEx) has announced that it will be introducing a new advanced apprenticeship in legal services. The Level 3 Advanced Apprenticeship in LegaI will hopefully provide a springboard to qualification as a lawyer. The qualification is being developed in partnership with Skills for Justice and the University of Law, formerly […]
It's never to late for a New Year's Resolution
Although January may be coming to an end, it’s not too late to make a New Year’s Resolution. With surface water flooding (caused by heavy rain and thawing snow) set to continue, why not make it your resolution to consider a flood report in every transaction? Why? Well for a start because the UK is […]
Bad publicity causes firm to be axed by lenders.
Staying on lender panels seems to be getting harder. Andersons Solicitors in Croydon have been removed from lenders panels within days of BAILI publishing the court report of their application for judicial review against the SRA. In what appears to be a case where they have been removed from panels before any allegations against them […]
Next SRA phase for compliance officers
The SRA has published an update on the approval of compliance officers prior to an announcement to its Board today on the nominations process for COLPs and COFAs. So far 98.5% (9744) of the firms expected to take part have completed the nominations process. Enforcement action has commenced against 152 firms have not completed their […]
SRA Handbook amendment on financial advisors
The latest version of the handbook (version 6) will allow solicitors to refer clients needing financial advice to any financial adviser. Previously, solicitors were only been allowed to refer to financial advisers deemed "independent" by the Financial Services Authority (FSA). The focus is now on achieving the best outcome for the client. The changes follow […]
What does the OFT report mean for conveyancing?
The OFT commissioned report into Regulatory Restrictions in the Legal Profession by Europe Economics was released last week. What will it mean for conveyancers? The report follows on from the 2001 OFT report into competition in the provision of legal and other professional services. That report led to the Clementi report and other changes that […]
Court clarifies time limits to appeal Party Wall awards
The law currently enshrined in The Party Walls etc Act 1996 has evolved over a period of centuries. As I found to my disappointment when preparing to talk to The Pyramus & Thisbe Club (www.partywalls.org.uk/) on the topic of “recent developments”, the case law has similarly developed at a snail’s pace. The Act has often […]
Environment Agency announces shale gas consultation
The Environment Agency has announced a second consultation has begun into shale gas exploration at three sites in Lancashire. They propose that strict conditions are set out in the permits to ensure local communities and the environment is protected. Bowland Resources Ltd, a subsidiary of Cuadrilla, has applied for permits to manage waste flowback water […]
Property fraudsters jailed
BBC news has reported that two men from London have been sent to jail after being found guilty of defrauding Allied Irish Banks and Bank of Scotland £61m. Achilleas Kallakis and Alexander Williams, both 44, were sentenced to seven years and five years respectively, at Southwark Crown Court. Between 2003 and 2008, they duped the […]
Legal Services Board calls for simplification of regulation
Following the release of the OFT report on the regulation of legal services the Legal Services Board has said there is a danger of regulation not keeping up with the market. They said the report pointed to the need for continued simplification of the regulatory regime. In particular with regards to both ABS approvals and […]
Legal Ombudsman updates complaints handling rules
Changes to various aspects of complaints handling from the Legal Ombudsman are set to take effect from 1 February. The changes include increasing the Ombudsman’s financial limits from £30,000 to £50,000, an increase in time limits for accepting a complaint to six years and introducing an opportunity for prospective customers to complain. As announced previously, […]
Joint research into solicitors firms published
The Law Society, the Legal Services Board and the Ministry of Justice have published the results of a research project into the supply of legal services by solicitors’ firms. The report is entitled “A time of change: solicitors’ firms in England and Wales” and follows one of the largest ever surveys into the activities of […]
Fasttrac Solicitors granted ABS status
Fasttrac Solicitors has announced that it has been granted ABS status by the Solicitors Regulatory authority. ABS status allows law firms to appoint non-lawyers as managers and directors and for there to be external investment in a law firm. Fasttrac joins around 50 other firms who have been granted ABS approval including Co-Op Legal Services […]
Time to Learn the Drill on Fracking, says Battens Expert
The green light to resume fracking, or hydraulic fracturing, could prompt a ‘tremor’ of legal disputes, a leading South West lawyer has claimed. Battens Chairman David Stephens said opponents of the process were likely to turn to the planning system to object to any proposals put forward by energy companies. His comments follow a government […]