CLC issues updated Guidance Note
An amendment to Guidance Note 13 has come into force from 31st December 2010 following amendments to the CML Handbook, you can read the updated guidance here: http://www.conveyancer.org.uk/news_item.asp?TypeId=1&NewsId=332 Today’s Conveyancer, bringing you the latest conveyancing news and updates.
Fridays Propery Lawyers goes into administration
Most conveyancers will be aware of Fridays Property Lawyers. You can hardly do an internet search for "conveyancing" without finding them quickly. Their rapid growth and success led them to make over 150 applications to the Land Registry in August. They appeared to be doing very well. However rumours have been circulating for some time […]
Deadline fast approaching for SRA Handbook consultation
This consultation will be the last opportunity for you to put forward your comments on the SRA’s new Handbook which will underpin the regulation of solicitors and law firms from October 2011. It builds on the foundations laid in "The Architecture of Change: the new SRA Handbook" (the May Consultation). The May Consultation initiated the […]
Total lending to individuals rose in November
Figures released by the Bank of England yesterday show total lending to individuals rose by £.7 billion in November although the growth rate was unchanged at 0.8%. Within the total, lending secured on dwellings rose £0.8 billion in November, compared to a £1.2 billion increase in October, slightly above the previous six-month average of £0.7 […]
What does 2011 hold for locums?
Paul Murden, a locum provides his view on what 2011 holds for locum conveyancers…. To state what is probably the very obvious, the future for Conveyancing locums looks very bleak. What was always, perhaps, a limited market will be pressured by the predominant economic effect on the property market causing SMS firms to either a) […]
Bad Hair Day: Bad Conveyancing Day; Do You Change Conveyancing Solicitors?
Paul Hajek of Clutton Cox has allowed us to reproduce a copy of his recent blog for which we are grateful… If we have a bad experience in a hairdresser’s, a butcher’s or a baker’s, we are more than likely to go elsewhere next time. Let’s face it, we, consumers are a fickle lot. We, […]
Bank of England release HEW figures for Q3
The Bank of England statistics released today show that Housing Equity Withdrawal stands at -£6.1bn for Q3 in 2010, compared to a figure of -£5.8bn (revised from the previous published figure of -£6.2bn). The HEW measure turned negative in Q2 2008. HEW, as a percentage of post-tax income was -2.4% compared to -2.3% in Q2 […]
November House Price Index statistics released
November’s Land Registry HPI data shows a negative monthly house price change of -0.6 per cent. This is the third consecutive month in which the figure has been below zero. This brings the average house price in England and Wales to £164,773. The annual house price growth rate has continued to decline for the sixth […]
Another subdued year for the housing market?
With the chequered performance of the property market in 2010 highlighting fundamental challenges that now face the sector RICS report that they believe the story for 2011 will remain the same. 2010 saw:- – Prices (at a headline level) remain somewhat elevated notwithstanding the modest declines recorded on most indices in the latter part of […]
Property Millionaires increase by 6% in 2010
Conveyancers who target high net worth clients might not be doing quite as badly as the rest? The latest figures released by Zoopla show that the housing market is not all doom and gloom with:- – 12,811 more property millionaires now than at end of last year – Equivalent to 35 new property millionaires created […]
Seasonal decline for November Mortgage lending
The Council of Mortgage Lenders has reported that gross mortgage lending in November was an estimated £11.1 billion, a 5% drop from £11.6 billion in October. Reflecting the distorted figures for lending towards the end of last year’s stamp duty concession, the November figure is 10% lower than the £12.3 billion advanced in November 2009. […]
Spotlight on…..Eclipse
Today’s Conveyancer has interviewed Darren Gower Marketing Manager of Eclipse and asked what they provide to conveyancers that use their systems. Eclipse is a provider of integrated case management, workflow, and process management software. Their Proclaim system is in use by over 13,000 professionals in a vast range of sectors, incorporating legal, commercial, charitable and […]
Homelessness on the rise
Not everyone will be looking forward to Christmas this year, spare a thought for the reported 11,840 households who are accepted as homeless across the Country, as reported by the Department for Communities and Local Government (CLG), this is an increase of 17% from the previous quarter. For the third quarter in a row the […]
PCCB suspends registration of search firm
The Property Codes Compliance Board (PCCB) on Friday announced that it has suspended the registration of Ms K & Mrs J Burridge t/a Search Pack UK and Epcworx (also/previously known as Fasthipsuk also trading as Southwest Energy Assessors, Hipsearchuk and Myhipsearchuk) after it failed to meet the Board’s compliance requirements and thereby comply with PCCB’s […]
BSA survey – Is now a good time to buy property in the UK?
According to the BSA Property Tracker survey in December just over a quarter of respondents, 26%, disagreed that now was a good time to buy property in the UK, broadly the same as September but much higher than just one year ago. In contrast, 43% do believe it is a good time to purchase property, […]
Sheffield firm set for administration; BDO called in
The Lawyer reports that Administrators BDO was appointed on Friday on the administration of Ashton Morton Slack, which had a turnover of £7.5m in 2008 and which also advises on business, personal injury and private client work. BDO partners Dermot Power and Graham Newton are advising. The news of the current financial troubles comes three […]
House prices slip further
RICS latest UK Housing Market survey shows that activity in the housing market has continued to slow during November, with house prices slipping further.PARA It is reported that 44 per cent more chartered surveyors say that prices fell in November, a slight improvement on October’s net balance of -49 per cent. First-time buyers are still […]
Rightmove forecasts 2011 falls as December sellers drop asking prices 3%
Following the release of Rightmove’s December House Price Index it has been reported that December sellers have cut asking prices by 3% (£6.969) meaning we have now had falls in 5 of the last 6 months and Rightmove are forecasting more of the same for 2011. Sellers will continue to drop their prices with the […]
Law Society says get PII overhaul right
The planned consultation by the SRA on the future of Professional Indemnity Insurance does have some sensible proposals but the Law Society believes that removing work for financial institutions from the scope of the minimum terms and conditions of cover would hit conveyancing Solicitors hard. A significant number of solicitors believe that the single renewal […]
Mortgage lending decline for October
The Council of Mortgage Lenders (CML) have released data showing that an expected decline in mortgage lending has become apparent. With 46,000.00 loans for house purchases in October (worth a reported £6.7 billion), down by 6% in value from September’s figures, the total value is 12% lower than October 2009. Figures in the final quarter […]
