Councillors in Wales set to review tax increases on second homes
Flintshire in Wales is set to undergo a review of current council tax premiums for second home owners that have been in place since 2017, reports suggest. The news comes following mounting concerns across staycation hotspots and other local councils in Wales that have imposed similar measures in a bid to resolve housing shortages for […]
A fantastic first CA event for 18 Months
The Conveyancing Association, the leading trade body in the conveyancing industry, restarted its real live event calendar at RSA House, London on the 9th September, The CA Policy and Strategy board met in the morning and agreed on the need for a concerted agenda to drive productive change in the way that we convey property […]
Property pandemonium subsides with end of SDLT holiday
Conveyancers up and down cheered a sigh of relief as the stamp duty holiday concluded on Thursday at midnight. A few sore heads on Friday may have dealt with end of the week completions but the pandemonium generated by the holiday may now subside. Introduced to stimulate the market in July 2020, it has in […]
Diary of a High Street Conveyancer; 4th October 2021
So, what did you do during the Covid Pandemic of 2020 to 2021, dearest grandparent? I worked fourteen hour days, seven days a week, to help people to move house. The interest rates were low, which meant that mortgage borrowing was low, and as there had been a lockdown, when shops and restaurants, theatres and […]
Homebuyers save £bn’s on SDLT since July 2020
Research has identified that homebuyers have saved as much as £6bn on SDLT, with nearly half a million transactions completing between July 2020 and 30th June 2021, when phase 2 of the tapered end to the relief came into effect. Analysis from Rightmove and GetAgent.co.uk differs but identifies that home movers have saved significant amount […]
Legal profession celebrates Black History Month
Solicitors in England and Wales will celebrate Black History Month by embracing the ‘Proud to Be’ theme, which encourages Black people to celebrate and share the pride they have in their heritage and culture. Law Society president I. Stephanie Boyce said: “We will be sharing stories of Black lawyers from across the profession throughout October. […]
Cashroom offer their congratulations to conveyancers
Will leaseholders see property ‘levelling up’ now Gove’s in charge?
In September housebuilder Countryside Properties became the latest big developer to pledge an end to ground rents on leasehold properties. For thousands of leaseholders who bought homes from them it means they will no longer be subjected to the unfair rent system that doubles rates every 10 to 15 years. For many homeowners, entering into […]
The Digital Solicitor Podcast – Conveyancing after the SDLT holiday
With SDLT holiday transactions tailing off, now is a good time to look at where the overworked conveyancing market has left solicitors and think about what comes next. To help us do this, the Digital Solicitor podcast is joined by Rob Hailstone of the Bold Legal Group, an ex-residential property conveyancer with over 40 years’ […]
New CoPSO member to shape future of digital conveyancing
X-Press Legal Services has become a member of The Council of Property Search Organisations (CoPSO) Executive team and will join other Executive members in shaping the direction and future of the Council. James Sherwood-Rogers, CoPSO Chairman comments: “The appointment of X-Press Legal Services to the CoPSO Executive will bring a lot to the table in […]
Housing Growth Partnership announces more funding for developers
The Government has announced an additional £300 million in funding for the Housing Growth Partnership (HGP) which aims to build 10,000 new homes by 2025. Formed in 2016, HGP announced yesterday that a new £300 million equity funding programme provided by Homes England and Lloyds Banking Group would help to bridge the homebuilder funding gap […]
The blockchain revolution; first steps to speed up mortgages
Coadjute, the real-time network that connects the property market, has announced plans to enable retail banks in the UK to issue a mortgage stablecoin on their network, working in partnership with global technology firm R3. The service is set to vastly improve the movement of mortgage funds, which amounts to over £240bn each year nationally. […]
Hold on low interest rates a “confidence booster” says estate agency body
Following some expectations that there could have been a rise in interest rates, the Bank of England’s decision to hold the base interest rate at a record-low of 0.1 per cent has been welcomed as a “confidence booster” for the property sector by estate agency membership body Propertymark. The Monetary Policy Committee (MPC) maintained the […]
Legal Bricks launch Biometric face scanning ID checks
Legal Bricks have today announced the official launch of their Biometric face scanning ID checks – available as a standalone product or as part of their conveyancing client on-boarding portal, LB Connect. With the rise of fraud within conveyancing transactions, especially identity fraud, and tighter regulations around ID checks and the way clients are onboarded, […]
SDLT holiday enters final week…
Thursday 30th September sees the final day on which the Stamp Duty Land Tax relief is applicable. Relieved conveyancers up and down the country will be able to breathe a sigh of relief as the end of the second phase of tapering will see SDLT revert back to the previous thresholds. £125,000 for residential properties […]
Diary of a High Street Conveyancer; 27th September 2021
The SDLT holiday was introduced to take effect on the 8th July 2020 in a market that was already busy. There were people who were only just able to move and had sat patiently waiting during the first lockdown, there were those who realised that they needed more space as they understood that they were […]
Developers criticised for “stockpiling” land to be taxed under new legislation
Draft legislation has been published for a new tax that will be levied on large developers’ profits from buying and selling land with planning applications, to contribute to the government’s cladding remediation costs. Rishi Sunak is set to announce the tax on developers with profits over £25 million in his autumn budget, which should raise […]
Conveyancing Workload Issues
I am shortly to commence another series of webinars entitled Residential Conveyancing for Support Staff which has been one of the most popular courses I have delivered over my many years of training. The course is really enjoyable to deliver because of the enthusiasm of delegates and their thirst for knowledge. Frequently they know some […]
Report maps out route to sustainable growth for law firms
A new report from legal software specialist, Access Legal, has identified three key priorities law firms need to consider to achieve commercial success post-pandemic. Whether law firms look to grow or consolidate their position in the market, Access Legal’s report, How Can Firms Achieve Commercial Success in the Post-Pandemic World?, provides insights around sustainable costs […]
Property wealth hits new high
The overall value of UK housing stock has risen from £5.67trn to £6.42trn over the last year, with private property wealth reaching a new high of £4.87trn according to figures released by the Equity Release Council. While the level of mortgage debt has reached unprecedented levels, now above £1.5trn, fast rising property prices mean that […]