Co-operative Legal Services warn consumers of hidden legal charges in conveyancing quotes
Co-operative Legal Services have warned consumers that cheap conveyancing quotes may be too good to be true. They argue that it is very easy for consumers to find themselves buying what looks like a cheap conveyancing service when the price will actually end up being inflated by hidden charges. Part of the statement released […]
LSB publishes Annual Report for 2011/12
The Legal Services Board, the independent body overseeing the regulation of lawyers in England and Wales, has published its Annual Report and Accounts for the year 2011/12. The document was laid down before Parliament yesterday (19 June 2012). This is the LSB’s fourth annual report, and is the second to cover a full year […]
Tinsdills joins CQS
Staffordshire based law firm Tinsdills Solicitors have announced that they have achieved the requirements for the Law Society’s Conveyancing Quality Scheme and are now CQS accredited. The scheme recognises high standards of practice management and client care within law firms that undertake residential conveyancing work. Andrew Burrows, Partner and Residential Property Department Head said: "I […]
First Title packages legal indemnity policies for renewable energy market
First Title has adapted and consolidated its suite of tailored legal indemnity policies for the renewable sector under the new umbrella of ‘Green Title’. The move comes in the wake of increasing demand for bespoke title insurance policies from growing numbers of developers and funders involved in renewable development projects. This rise in activity is […]
Asking prices set third consecutive record, but still outpaced by inflation
The Rightmove House Price Index for June shows that for the third consecutive month the price of new property coming to the market rose, fuelled by price records in London and the South East. The national average asking price for June is £246,235. This is an increase of 1% over the last month. Miles Shipside, […]
Conveyancing Quality Scheme hits the 1500 firm mark
Bright (South West) LLP in Plymouth has become the 1500th legal practice in England and Wales to secure the Law Society’s Conveyancing Quality Scheme (CQS) quality standard. The firm’s new CQS status follows days after Bright (South West) LLP was re-accredited with the Law Society’s practice management standard, Lexcel. New figures from the Law Society […]
Money down the drain?
Wesley Timothy, underwriter at First Title Insurance Plc looks at the recent changes to water and drainage management, and asks whether it might be storing up problems for the future. Thank you to First Title and Mr Timothy for allowing us to republish this article. The burden of responsibility for the upkeep and maintenance […]
Legal Services Board consults on extending the SRA’s Compensation Fund for ABS firms after 2012
The Legal Services Board has opened a consultation on extending the SRA’s Compensation Fund for ABS firms after 31 December 2012. The intention of the consultation document is to ensure that there are adequate compensation arrangements for ABS firms that are regulated by the SRA after the end of the year. Also included […]
Lenders welcome European mortgage vote
The CML reports that UK lenders have made welcome progress on the final shape of the proposed mortgage directive after a recent vote by the European Parliament’s economic and monetary affairs (ECON) committee. The vote last week backed the UK stance on buy-to-let lending. The UK stance is that buy-to-let lending should be excluded from […]
James Sherwood Rogers appointed as CoPSO Chair
The Council of Property Search Organisations (CoPSO) has appointed James Sherwood-Rogers as Executive Chairman. He will take up the newly created post with immediate effect and will be working closely with the CoPSO board members to drive forward its agenda for 2012. Sherwood-Rogers has previously worked for Landmark and had held the position of Non-Executive […]
Case raises warning over stamp duty and apportionment of sale price
The recent case of Orsman v HMRC (2012) highlights the care that should be taken when splitting the sale price of a property between land and chattels, and shows that the question ‘fixture or fittings?’ can still be a difficult one. In this case Miss Orsman agreed to pay £258,000 to purchase a house and […]
Buying saves nearly £200,000 compared to renting over lifetime
According to a new study from Barclays released today, stepping onto the property ladder has enormous financial benefits over an adult’s lifetime. Owning a home instead of renting will save £194,000 over a fifty year period. This is before the value of the property the buyer will own is accounted for. The total cost of […]
HSBC approves 15,000 first time buyer mortgages
The HSBC announced in January that it would be making at least £15 billion in mortgages available to UK homeowners in 2012, including £3 billion for first time buyers. It has been revealed that by the end of March HSBC had already approved £4.9 billion in mortgages to UK borrowers. £1.2 billion of this was […]
1 in 10 in UK focused on mortgage savings
New research from Clydesdale and Yorkshire Banks released this month shows that people in the UK remain focused on their finances, with more than one in ten planning to remortgage, pay-off or make over-payments on their mortgage in the next twelve months. People in the Midlands are most likely to review their mortgage arrangements, […]
ABS – A Tonic or a Tyrant?
The ABS landscape is finally stirring into life with a rash of eye catching and some downright left field players emerging into the light. Some are well predicted, with the Co-operative Group making the boldest play and seeking mass distribution through major customer centres around the country and up to 3000 staff. Others, like Eddie […]
Two weeks left to vote for Estate Agents Conveyancer of the Year
Only two weeks remain before voting closes for the LFS Conveyancing Awards 2012 prize for Estate Agents Conveyancer of the Year. The prize will be awarded to the firm voted for by Estate Agent readers of Estate Agency Today. LFS have had hundreds of entries and competition is fierce. Some law firms seem determined […]
Cherry Tree Investments Ltd v Landmain Ltd [2012] EWCA Civ 736 (31 May 2012)
Cherry Tree Investments Ltd v Landmain Ltd [2012] EWCA Civ 736 (31 May 2012) Introduction Solicitor Mr Anis Waiz continues his critical review of recent case law. Here we look at a very important case arising from the sale of a property by a Lender under its power of sale. An everyday occurrence. However […]
House prices see annual growth for first time since April 2011
The LSL Property Services/Academetrics House Price Index for May has been released today. It shows that house prices in England and Wales rose on an annual basis for the first time in 13 months in May, with a monthly increase of 0.5%. The average house price is £223,207. May saw positive movement in nine of […]
Legal Services Consumer Panel calls for increase in Legal Ombudsman’s compensation limit
The Legal Service Consumer Panel has issued its response to the Legal Ombudsman Consultation on its scheme rules and case fee structure. The Panel believes that the package of proposals being consulted on would help close redress gaps for consumers. The number of prospective customer complaints would be likely to increase as the jurisdiction […]
Spicerhaart to invest £5 million to enhance the future level of service provided by estate agency brand
Estate agency group Spicerhaart is to invest over £5 million as part of a ‘service revolution’ within the haart branch network, reports MyIntroducer.com. The haart estate agency branch network is made up of over 120 outlets, and the investment will form part of the drive to make it the estate agency of choice. There will […]