Breaking down barriers: Can a conveyancers find common ground with an estate agent and a mortgage lender?
There’s no doubt about it. Residential property transactions are taking longer. As our latest market research reveals, the average time it takes from instruction to completion is 19 weeks. That’s a 64% increase compared with 2007. It’s perhaps no surprise then that 72% of the conveyancers we spoke to said protracted timescales were impacting chain […]
‘Mixed-Use’ definition sees successful £225,000 SDLT appeal
HMRC has lost its appeal against a £225,000 Stamp Duty Land Tax (SDLT) claim. A first tier tribunal (FTT) heard the case which centred around Durford House, a 6 bedroom property set amongst 16.6 acres of land and 12 acres of mature woodland. The claim was made by Cornerstone Tax, who claimed the property was […]
1,150 homes every day until 2029 to meet housing targets
The new labour government must deliver just over 1,150 new homes every single working day for the next five years to achieve its stated aims of building 1.5m news homes in this Parliament according to estate agency membership group Propertymark. The representative body have called on the new government to provide a detailed plan on […]
Everything you need to know about AML for conveyancers
Every Property Law Solicitor and Conveyancer knows that carrying out an Anti-Money Laundering (AML) check before taking on a client is crucial to ensure compliance. AML checks help to prevent illegal activities such as money laundering and terrorist financing within conveyancing transactions. The volume of transactions and high property values, especially in London and the South East, […]
The Power of Customer Reviews in an Uncertain Market
As we navigate a year filled with economic uncertainties and a change in government, customer trust in the property industry has never been more important. In such a climate, reviews play a pivotal role in guiding consumer decisions and bolstering business credibility. Today’s consumers are more diligent than ever before, with 70% of their buying […]
Market impetus expected in coming months – RICS
Weakening demand has not deterred a more positive market sentiment in the months ahead despite latest figures suggesting a fall in new buyer enquiries of 8% in May and 7% in June according to The Royal Institute of Chartered Surveyors (RICS). Current market dynamics according to the UK Residential Market Survey for June 2024 suggest […]
Digital Conveyancing: Elevating Trust and Efficiency through Digitisation
In the evolving landscape of property, digital conveyancing represents a pivotal shift, focusing on digitisation rather than automation. This approach aims to enhance the conveyancing experience by providing robust tools that integrate information seamlessly, ensuring reliability and fostering trust. At its core, digital conveyancing is about the digitisation of processes that traditionally relied on paper-based […]
Law Society Special General Meeting Announced
The Law Society has confirmed the date and time for the Special General Meeting (SGM) in response to the petition launched by Property Lawyers Action Group (PLAG). It will be held on Tuesday 23 July 2024 at 2 pm. The SGM follows the receipt of a requisition from 100 members under bye-law 22(1) after an […]
PLAG blasts “condescending” Law Society protocol form delay
Property Lawyers Action Group (PLAG) has responded to the Law Society’s decision to delay in the mandatory implementation of the updated fifth edition of the TA6 Property Information Form, describing the decision as ‘disappointing’ and ‘condescending’ in a statement circulated on Sunday (16th June) evening. The group, which has been responsible for an online petition […]
Law Society delays updated TA6 introduction
The Law Society has announced mandated use of the updated TA6 property information form will be delayed until January 2025 to enable it to further consult members on the content and implications. In a statement released today (Friday 14th June) Law Society of England and Wales chief executive officer Ian Jeffery says “For many members […]
‘Devil in the detail’ – reaction to Conservative manifesto
Prime Minister Rishi Sunak has launched the Conservative manifesto for the General Election on 4th July, at Silverstone race circuit. His speech held few surprises for property professionals with many of the policy commitments announced in the national press over the past couple of days. The Labour party are yet to publish their manifesto but […]
Number of first time buyers with dependents double since 2009
Analysis of First Time Buyer (FTB) trends have revealed the average age and personal circumstances of FTB’s in the UK. Nationally the average age of a FTB is 33 years 8 months old; meanwhile the number of FTBs who have at least one dependent has doubled since 2009. The data, which has come from Mojo […]
How will stamp duty promises impact buyers?
With both major political parties promising stamp duty reform ahead of the election, what does it actually mean for the electorate and wider property market. Labour announced plans to introduce a ‘Freedom to Buy’ scheme as part of its election manifesto, the detail of which is due to be published this week. In the Conservative […]
Top 5 tips for speedy CON29DW returns
To celebrate the 10th anniversary of the Drainage and Water Searches Network (DWSN), we are developing a series of webinars delving into the questions contained within a CON29DW search. Our first webinar, Top 5 tips for speedy CON29DW Returns, is now available on the DWSN YouTube Channel and below, which you can also access at […]
Snap poll shows support for vote of no confidence
A snap poll run by Today’s Conveyancer suggests sentiment toward The Law Society is low amongst conveyancers. 90% of respondents to a LinkedIn poll said they would ‘support proposals to call for a vote of no confidence in the Law Society.’ Last week calls by The Property Lawyers Action Group (PLAG) for a vote of […]
Pre-election property supply up, but for how long?
The number of properties coming to market has increased, with an uptick in demand also reported in the latest Housing Insight Report from estate agency membership and training body Propertymark. The report covers the month of April, just before Prime Minster Rishi Sunak announced the July 4th General Election. The average number of prospective new […]
Surrey Law Society adds weight to vote of no confidence
Surrey Law Society have thrown their weight behind calls for a vote of no confidence in The Law Society CEO Ian Jeffery, and President Nick Emmerson. As reported yesterday, the Property Lawyers Action Group (PLAG) have begun proceedings to initiate a Special General Meeting (SGM) in which it proposes to hold a vote of no […]
MHAW 2024: Raising mental health awareness in the legal sector
Mental Health Awareness Week takes place every year during the month of May. The annual event is an opportunity for organisations to raise awareness about mental health struggles among the UK workforce. Mental health struggles are still stigmatised, despite increased dialogue on the subject. Psychological well-being is highly relevant to those in the workplace, with […]
Transactions edge up month on month but 2023/24 a year to forget
Home moving transactions edged up 1% in March 2024 from 83,040 in February 2024 to 84,200 but remain 6% down on 2023 volumes. Meanwhile, annual volumes from April 2023 to March 2024 decreased 17% on the previous financial year to levels not seen since 2012/13. In 2022/23 there were 1,208,310 transactions; in 2023/24 this fell […]
TA form furore – stinging criticism of Law Society
The Law Society has come in for criticism for its handling of updates to the property protocol forms. The forms have been updated to include more information about the property that can be used for compliance with National Trading Estate and Letting Agency Team (NTSELAT) guidance on material information. At the time Law Society president Nick […]