Purplebricks CEO resigns
The chief executive of Purplebricks, Vic Darvey, has resigned from his position, citing “personal circumstances”. He will be replaced by chief operating officer Helena Marston on 4th April. Darvey joined Purplebricks in 2019 following the departure of Michael and Kenny Bruce. The online estate agency recently posted a loss for the year, partly due to […]
Increased indemnity costs and personal guarantee demands to threaten UK law firms
Most smaller UK law firms have done incredibly well to ensure continuity during the pandemic. However, since the SRA Compliance Conference in November 2021, firms have become concerned about potential increases in professional indemnity insurance (PII) costs. According to recent reports, and experience from the last set of renewals, they may also have to sign […]
Government lists amendments to Economic Crime Bill as Law Society offers backing
The government has announced amendments to the Economic Crime (Transparency and Enforcement) Bill in an effort to “crack down on corrupt elites and ramp up pressure on Putin’s regime”. This comes as the Law Society announced its support for the Bill on Monday, offering their help in making it as effective as possible. The Bill, […]
How to make the conveyancing process more efficient – part 2
Why would we not want to see a positive, proactive change to improve the home moving process? Is it really an option that we just carry on as we did before? That, by the way, is what litigation solicitors call a “leading question”. There is no reason why we cannot change the way in which […]
International Women’s Day: Convey Law’s female-led Board #BreakTheBias
Four of Convey Law’s six female Board Directors have spoken about what International Women’s Day means to them and why they are so proud of their achievements. Over 80% of the Convey Law workforce is female as are six of the nine Board Directors, making the company unusual in having a female-led Board. Operations Director […]
Thirdfort secures £15m of funding to take on UK’s £100bn AML crisis
Thirdfort, a risk management platform for professional services, has secured £15m in a Series A round in an effort to tackle the UK’s escalating money laundering and payment fraud burden. The company will use the financing to ramp up growth and product development, in line with its vision to build a seamless and flexible platform […]
First Japanese knotweed shoots of 2022 spotted in Plymouth
The first Japanese knotweed shoots to emerge in 2022 have been spotted on the banks of the River Plym in Plymouth, Devon, more than a fortnight earlier than last year, confirming that the UK’s most invasive plant has already begun its spring growth season. Japanese knotweed hibernates during the winter months before emerging when the […]
House hijacking to be focus of new ITV drama
Our House, a new ITV drama which will air its first episode on Monday, 7th March, has a storyline centred around the crime of “house hijacking”, a situation wherein a homeowner is impersonated and has their house sold in their name, often having no knowledge of the sale occurring. That is the basis of the […]
SRA updates its guidance on Russia sanctions
The Solicitors Regulation Authority (SRA) have updated their guidance for firms and solicitors on making sure they are adhering to the Government’s sanctions on Russian nationals and organisations in light of the conflict in Ukraine. Along with the Council for Licensed Conveyancers (CLC), the SRA published guidance for firms and solicitors in February to help […]
Bank of England considers dropping mortgage affordability test
The Financial Policy Committee (FPC) of the Bank of England has published its consultation on the proposal to withdraw the mortgage “affordability test”, which specifies a stress interest rate for lenders when assessing prospective borrowers’ ability to repay a mortgage. Its removal would contribute to allowing borrowers to take out bigger mortgages, something which could […]
New law will leave Russian property owners with “nowhere to hide”
Foreign owners of UK property will be forced to declare their identities rather than hiding the true ownership of the property behind the façade of a shell company, Prime Minister Boris Johnson announced on Monday. This is the latest government move against Russia following their invasion of Ukraine. It is designed to tackle the Russian […]
8 days to go…
There are just 8 days to go until The British Conveyancing Awards 2022, sponsored by Dye & Durham. Voting for the two final categories has now closed with over 2500 votes cast. Both the Today’s Conveyancer Industry Champion, sponsored by Move Reports, and Conveyancing Firm of the Year – National, sponsored by Groundsure, have seen […]
HMRC told a “fundamental review” of SDLT is needed
In November 2021, HM Revenue and Customs (HMRC) published its consultation on reforming stamp duty land tax (SDLT). The consultation highlighted issues with SDLT which, along with the planned changes, have caused The Institute of Chartered Accountants (ICAEW) to call for a “fundamental review” of the code, with The Chartered Institute of Taxation (CIOT) also […]
Diary of a High Street Conveyancer; 7th March 2022
There are times when I think that conveyancing practice needs to be “tidied up” a little. I had one of those experiences this week, and it was difficult not to be portrayed as unhelpful even though I do believe that I was in the right. I was acting for the executor of an Estate selling […]
How to make the conveyancing process more efficient – part 1
At any point in time, there are thousands of properties on the market. That is a significant number of people waiting to move. Over two articles, we will explains the steps which sellers can take to help reduce the time a conveyancing transaction takes and, in the process, make their property more marketable to prospective […]
240,000 empty homes could be used to ease housing shortage
New financial incentives are needed to bring thousands of empty homes back into use and give a much-needed boost to housing supply, leading to calls to restart the Empty Homes Programme which closed in 2015, having distributed £100 million, as well as removal of VAT on home and energy efficiency improvement, and discounts or exemptions […]
Over half of legal professionals have no cyber security training
51% of employees in the legal service industry have had no cyber security training arranged by their current employer, according to a new survey. This is alarming information as the same survey reveals 83% of legal professionals handle confidential data at work. The survey was commissioned by NordLocker, an encrypted cloud service provider. Oliver Noble, […]
Derelict sites to be transformed into new homes
Derelict and underused brownfield sites across the country will be transformed into new homes to level up the country and create thriving communities for people to live and work, the Department for Levelling Up, Housing and Communities have announced. West Midlands, Greater Manchester and the Tees Valley Combined Authorities have been awarded their share of […]
Q4 sees transactions soar to over 300,000
The conveyancing market across England and Wales registered a record 306,237 completed transactions between October and December last year, data from Search Acumen shows. The final quarter of 2021 was the busiest on record for completed transactions logged with HM Land Registry, with over 100,000 transactions wrapped up in both November and December – another […]
Upcoming changes to planning policy will hurt market for second homes in Wales
Regulating second home ownership in Wales through changes to planning policy will add complexity to the buying and selling process, meaning potential delays and costs for sellers and agents, according to Propertymark, the professional body for the property sector. The Welsh Government is considering new planning legislation and policy as part of its “three-pronged approach” […]