New build caps and change of use applications on the cards for second homes in Devon
Concern is mounting amongst MPs in rural staycation holiday destinations, particularly in areas such as Devon and Cornwall, that local families and workers are being priced out of the housing market by holiday lets and new builds being sold as second homes. The MP for North Devon Selaine Saxby is the latest in a string […]
July transactions down 61% on June 2021
Transaction figures released today (24th August) by HMRC show a 61% decrease in home moving activity in July compared to June following the end of the first stage of the SDLT holiday tapering process. From 1st July to 30th September only properties in England up to £250,000 are eligible for the nil rate band; the […]
Self and custom build housing could give home movers “more choice”
Proposals to help more people build their own homes have been ‘warmly welcomed’ by the Housing Secretary Rt Hon Robert Jenrick MP following the release of a report commissioned to improve the housebuilding industry by giving customers more choice, and to make home building a mainstream, realistic and affordable option for people across the country. […]
Treasury pockets record SDLT windfall
Following the release of the ONS figures which showed the impact of the property market recovery on house prices, HMRC have released figures which show it’s highest recorded revenues from Stamp Duty Land Tax in July. Receipts from property purchases hit £1.309 billion in July, the highest month on record and higher than the £1.196 […]
What’s happening with electronic signatures in the property market?
Following the introduction of electronic signatures last year, HM Land Registry provides an update on this revolutionary step in the property market for Today’s Conveyancer. One year ago, we took a revolutionary step that allows deeds signed using an electronic signature to be registered. This was the first time in the history of HM Land Registry (HMLR) that non-mortgage deeds signed using electronic signatures, […]
Diary of a High Street Conveyancer; 23rd August 2021
Following on from my words last week about the phrases and words that conveyancing lawyers used, it got me thinking about other things to do with the law and procedure. I have always thought that conveyancing was a specialist area – despite the attempts to streamline the process and make it more time and cost […]
Housing market shows signs of increasing stability
An estate agency membership body has predicted the housing market could stabilise in the coming months, following the surge in activity generated by the SDLT holiday. NAEA Propertymark has released its July Housing Report in which it identifies a slight increase in supply of properties coming to market, and a reduction in the number of […]
The Conveyancing Foundation donates vital funds to SANDS and the Epilepsy Society
The Conveyancing Foundation has donated funds from its innovative Charity Lotto to help two national charities, the Stillbirth and Neonatal Death Society (SANDS) and the Epilepsy Society. Both charities have received £1000 each after they were nominated by staff at Convey Law, whose clients raised the funds by taking part in the Foundation’s Charity Lotto. […]
As business costs rise, the value of a good conveyancer has never been more important
As the housing market shows no sign of slowing down, Aconveyancing’s founder and director Natalie Moore talks about the importance of keeping fees up to meet rising costs and tackle under-cutting. “With the boom in residential sales and purchases over the last year thanks to the stamp duty freeze, the value of a good […]
LSB confirm practice fee and Compensation Fund contributions to fall
The Legal Services Board (LSB) have confirmed that individual practising fees will be £266 in 2021/22… a £12 reduction from 2020/21 and a 17% reduction over the last 6 years. Despite an increase in the SRA’s funding requirement he continued rise in the number of practising solicitors means that individual fees will be less than […]
Record number of Help to Buy homes purchased in 2020-21
The number of people purchasing a home through the Help to Buy scheme is at an all-time high, according to figures just released by the Ministry of Housing, Communities & Local Government (MHCLG). The scheme, which helps first-time buyers access the property market by providing a loan to put towards the cost of buying a […]
Equality, diversity and inclusion update 2021
For some firms, equality, diversity and inclusion (EDI) has taken a back seat as a consequence of the Covid-19 lockdowns, but now that things are getting back to some semblance of normality it is important that all firms ensure their EDI policies and procedures are fit for purpose and operate effectively on a day-to-day basis, […]
Bids for “First Homes” scheme invited by Government
Bidding has opened for home builders across England to deliver 1,500 first time buyer and key worker homes under the First Homes scheme launched in June. Over the next few months house builders will be given the opportunity to bid for their share of a £150 million package by offering plots for sale as First Homes […]
Buyer enquiries slow but Autumn bounce predicted
The RICS July 2021 Residential Survey results reveal a slightly softer month for new activity across the housing market. Although a decline in activity is to be expected following the end of the stamp duty holiday in June, the survey also shows that house prices continue to rise due to lack of available stock, with […]
Loquitur per linguam alienam
I have spent the last few days thinking about what we do and how we do it. Conveyancing is not glamourous – to be honest, I cannot remember the last time I wore a suit to work! Conveyancing is not sexy; in fact, conveyancing is hard work, and one of the things that the recent […]
HMRC expected to resume pre-pandemic levels of SDLT investigations
The number of Stamp Duty Land Tax (SDLT) tax investigations by HMRC has fallen by 75% in the last year, from 2,096 in 2019/20 to 529 in 2020/21, the lowest figure in five years, a Freedom of Information request from law firm Boodle Hatfield reveals. The drop in investigations is thought to be due to […]
HMLR Practice Guide updates
HM Land Registry has released details of changes to several Practice Guides in this week’s update. Notices, restrictions and protection of third-party interests (PG19) This guide gives advice about how to apply for a notice or a restriction to protect a third-party interest in a registered estate or charge. It explains the effect of existing […]
Contaminated land equivalent proposal for cladding recourse
A “Polluter Pays” amendment to the Building Safety Bill is under consideration in government and would place the costs for cladding remediation on the construction industry. The Bill would enable government to pursue developers and builders for interim safety and final remediation costs in the same way contaminated land liabilities sit with the polluter. The […]
“Lawyer certification” could help HMLR submissions
HM Land Registry has released its 2021-2024 Business Plan in which the plan to move further toward automated registrations, is outlined. The plan identifies 4 key elements in automating the process digital applications trust in the application information register data must be machine readable application processing must be automatable it also suggests a pilot “lawyer […]
Charges removed from properties of illegal money lender victims
The Financial Conduct Authority (FCA) has obtained a High Court Order to remove hundreds of HM Land Registry charges, notices and restrictions registered against consumers’ properties by illegal money lender Dharam Prakash Gopee. The Financial Conduct Authority (FCA) has successfully obtained a High Court Order to remove approximately 625 charges, notices or restrictions registered in […]