The Housing Hub launched to promote wider access to home ownership
The BSA has launched a new housing initiative called The Housing Hub, which it sees as an opportunity to bring lenders and housing associations together. It believes that by co-operating more closely it will allow alternative home ownership models into the mainstream, allowing more people to own their own homes without the barrier of finding […]
Surge of activity in mortgage market in March
CML figures released last week showed that there was a surge in activity in March. The largest increase was in lending to first time buyers, as they rushed to beat the stamp duty holiday. First time buyers took out 24,000 loans in March, with a value of £3 billion. The amount of loans taken […]
Report says Government failing to tackle housing crisis
A joint report published by the National Housing Federation, Shelter and the Chartered Institute of Housing suggests that the Government is failing to tackle the housing crisis. The report shows that the Government is failing to deliver on five out of ten key housing indicators. These are: – Housing supply – Overcrowding – Homelessness – […]
CML gross mortgage lending figures show decline in April.
The Council of Mortgage Lenders released the gross mortgage lending figures for April today. Lending fell by 19% from March, as an estimated £10.2 billion was lent. This is a monthly fall of £2.4 billion. However, this still represents an annual increase of 2%. Bob Pannell, CML Chief Economist comments: "Mortgage lending activity has been […]
Law Society sends open letter to the profession regarding the HSBC lender panel agreement
Desmond Hudson, Chief Executive of the Law Society has posted an open letter to the profession on its website regarding the HSBC lender panel agreement which was announced on Wednesday. The Law Society has kindly allowed us to republish the letter. Thursday 17 May 2012 Dear Colleagues, I am pleased to inform you that the […]
Ensuring you have an undertaking
Alan Riley of PropertyPSL Ltd looks at the recent case of Nationwide Building Society v Davisons (a firm) (2012) Ch Div 24 April and discusses the importance of ensuring you have an undertaking. This article was first published on http://www.propertypsl.co.uk/ and we are grateful to Alan for allowing us to republish this. How does a […]
Butterworths re-launch firm following merger
North-West based Butterworths Solicitors has merged with Cinnamon Property Lawyers, the conveyancing firm based in Gateshead, expanding into the North East. The firm is focusing on delivering key specialist transactional based services in the areas of property and financial litigation to business and individual consumers. Following the merger Senior Partner Tony Butterworth will […]
First Title Launches new policy to mitigate risks from new Localism Act
First Title Insurance Plc has launched a new policy aimed at protecting homebuyers from potential exposure from risks that arise following the passage of the Localism Act 2011. The new policy is designed to protect against the risks from the concealment of breaches of planning by sellers. The Localism Act 2011, which came into […]
Church of England to assert right to minerals
The Church Commissioners is applying to the Land Registry to register the Church of England’s ownership of mineral rights which have become detached from the ownership of the surface of the land, the Independent has reported. Holding the mineral rights to land means that the Church would be able to extract the minerals, although digging […]
Santander becomes fifth lender to join NewBuy scheme
Santander has become the fifth lender to join the NewBuy scheme, launching a choice of three mortgages for those with a 5-10% deposit buying a new build property. The bank will offer loans with fixed rates for 3, 5 or 7 year periods. The 3 and 5 year mortgages have a fixed rate of 5.49%. […]
Napthens joins Conveyancing Quality Scheme
The Lancashire Law firm Napthens has been accepted as a member of the Conveyancing Quality Scheme (CQS), the Law Society scheme to provide a recognised quality standard for residential conveyancing firms. Membership of the CQS means that the firm has offering high standards, good practice in management, efficient conveyancing procedures and a high quality […]
Licensed Conveyancers react to HSBC panel changes
Following the announcement yesterday by HSBC that from August all members of the Law Society CQS scheme will be allowed onto its lenders panel, bodies representing Licensed Conveyancers have called for panel recognition. HSBC and the Law Society jointly announced the changes to the panel arrangements which had been in place since January. Under these […]
Industry reacts to HSBC lender panel changes
The HSBC and the Law Society yesterday announced changes to the HSBC lender panel. From August the panel will be widened from a limited panel of 43 firms to include all firms that are accredited with CQS membership. The news has led to much industry comment. Eddie Goldsmith, Chairman of the Conveyancing Association said of […]
HSBC opens panel to CQS members
In a statement this morning HSBC and the Law Society have jointly announced changes to the much criticised limited panel arrangements that have been in place since early 2012, which saw an initial panel of only 43 firms on the HSBC panel. Giving significant support to the Law Society Conveyancing Quality Scheme (“CQS”), HSBC are […]
Grant Shapps announces Right to Buy will lead to thousands of new homes
Housing Minister Grant Shapps has unveiled details of how thousands of new affordable homes will be built using the proceeds from the Government’s Right to Buy Scheme. Shapps stated that local authorities would have more time to take advantage of the rejuvenated scheme, having three years to reinvest funds raised from additional sales into new […]
Acquisition of "Top Ten Conveyancing Firm"
In-Deed was admitted to the alternative investment market nearly 12 months ago with the intention of offering good quality conveyancing at a price that was clear for the consumer to understand and which left conveyancers with a fair return for a good quality service over the internet. The idea was created by the previous Chief […]
10 Reasons COLPs need Compliance Optimisation Technology
St Giles the professional indemnity insurance broker has recently set out reasons why COLPS needs technology to help them comply with the regulatory burden they face. In 2011 the SRA moved away from prescribed rules to outcomes-focused regulation. As part of this move, firms need to nominate a Compliance Officer for Legal Practice (COLP) and […]
Law Firm considers action against SRA for failure to act over bogus law firm
Legal Futures has reported that a Birmingham law firm is considering whether to take legal action against the SRA after being tricked by a bogus practice as part of a mortgage fraud. Davisons claims that the failure of the SRA to act promptly over a warning that a bogus practice was operating led to it […]
Do you have sufficient checks in place to protect you from your own staff?
The UK’s Fraud Prevention Service CIFAS has released Staff Fraudscape. This is a 40 page report which analyses the insider frauds. It also looks at the reasons behind the 14.5% increase in such frauds which has been recorded by members of the CIFAS Staff Fraud Database during 2011. The document can be found here. Confirmed […]
BSA elect new Chairman
The Building Societies Association (BSA) have elected David Webster, Chief Executive of the Hanley Economic Building Society, as the new Chairman for 2012/13. Webster replaces Peter Giffiths, Chief Executive of the Principality Building Society, who had held the role during 2011/12. The role of Deputy Chairman will be held by David Cutter, Group Chief Executive […]