Decrease in net mortgage approvals fails to dent sector optimism
The Bank of England Money and Credit report for August 2025 shows a decrease in net mortgage approvals for house purchases, down by 500 to 64,700, bringing three consecutive months of growth to an end. Approvals for remortgages decreased by 900 to 37,900. Net borrowing of mortgage debt by individuals decreased by £0.2 billion to […]
‘Digital wallet’ that aims to reduce compliance checks rolled out across property sector
A ‘digital wallet’ that aims to reduce repeated compliance and ID checks for property buyers has been launched by digital ID company Credas. The Credas Compliance Wallet has been designed for use across regulated industries, but is being initially rolled out across the property sector to tackle the ‘persistent challenge’ of compliance duplication. Each wallet […]
Work will begin on three of 12 new towns ‘within this Parliament’, as Reed doubles down on housing pledge
The government has announced it will progress work on developing new towns across England, following publication of an independent report that recommends 12 potential locations. In a speech at the Labour Party Conference in Liverpool, housing secretary Steve Reed confirmed that work will be launched on all 12 sites, as he reiterated his commitment to […]
CPRE analysis suggests available brownfield land would meet government’s homes target
An analysis of the potential use of brownfield land for housing by the countryside charity CPRE suggests there is enough of the land available to meet virtually all of the government’s 1.5 million new homes target, half of it already with planning permission. The CPRE says its ‘conservative calculation’ reveals there is enough land to […]
‘Almost all’ homeowners are concerned about property tax and ‘half won’t buy if changes are implemented’
A survey of over 1,000 homeowners of all age groups across England suggests the vast majority are concerned about rumoured plans to introduce a new system of property tax. Most respondents of the survey by Boon Brokers said both an annual property tax and seller-paid stamp duty would be ‘unfair and unmanageable’, and half (51%) […]
SRA kicks client account can down the road
The Solicitors Regulation Authority (SRA) has written to respondents to the consultation on the holding of client funds by solicitors to confirm it will not be taking any immediate action on removing client account from law firms. In correspondence seen by this publication, the SRA’s executive director of strategy, innovation and external affairs Aileen Armstrong […]
New ONS data shows homes still ‘generally unaffordable’ as locals increasingly priced out
The ONS has published its Housing Purchase Affordability analysis covering the UK in the financial year ending 2024, which shows slightly improved ratios of house prices to household incomes but a long-term trend of ‘homes generally being unaffordable’. The data also reveals that local people are being increasingly priced out of their home towns: out […]
Bank of England holds base rate at 4% – industry reacts, with some advice for conveyancers
Property industry experts have been united in their reaction to the Bank of England’s decision to hold the base rate at 4%, agreeing it was widely expected and offers stability to homeowners. Matt Smith, Rightmove’s mortgage expert: “A Base Rate hold today had looked fairly nailed on, especially after yesterday’s news that inflation remains stuck […]
Commonhold and AI on the agenda for annual Society of Licensed Conveyancers Conference programme
The annual Society of Licensed Conveyancers (SLC) conference reconvenes on 12th November to tackle the daily issues facing conveyancers including commonhold, mental health, and artificial intelligence. Hosted again in Derby, the day welcomes speakers from across the sector, and beyond, to discuss topics of importance to residential conveyancers. Matt Prior from the Ministry of Housing, Communities and […]
Legal AI platform Lawhive acquires UK law firm and sets sights on conveyancing sector
AI legal tech company Lawhive has acquired Woodstock Legal Services, in the first acquisition of a traditional UK law firm by an AI-native platform. The acquisition will allow Lawhive to target the £25 billion legal market in the UK, the company said. The deal will enable Lawhive to focus on the conveyancing market, where it […]
Planning permission for new homes at record low
Data from the Home Builders Federation (HBF) shows planning permission was granted for just 44,520 new homes in England during the second quarter of this year, the lowest quarterly figure since 2012. Just 1,410 sites were approved between April and June, marking the tenth successive quarter of decline. A total of 8,200 sites were given […]
Bank of England mortgage returns ‘paint a picture of increased buyer confidence’
The Q2 statistics from the Bank of England Mortgage Lenders and Administrators Return (MLAR) show an increase of 0.3% in the outstanding value of all residential mortgage loans compared to the previous quarter. The total of £1,703.6 billion is 2.6% higher than the same period last year. The value of gross mortgage advances decreased by […]
Court of Appeal rejects bid to overturn couple’s £100,000 stamp duty bill
A couple are facing a £100,000 stamp duty bill following a Court of Appeal decision related to the distinction between residential and non-residential property. The appeal was brought by Mr and Mrs Mudan, who had argued the rate of stamp duty to be paid on their detached London house should be classified at the non-residential […]
Steve Reed takes on housing challenge following Rayner’s resignation over stamp duty row
Steve Reed OBE has been appointed secretary of state for housing, communities and local government following the resignation of Angela Rayner. Reed, the MP for Streatham and Croydon North since 2012, will take on the housing brief after serving 14 months as secretary of state for environment, food and rural affairs. Reed inherits the mandate […]
Solicitors suspended for misconduct in property transactions
A solicitor who acted for both sides in a property transaction, including an elderly and vulnerable client who was charged an elevated fee, has been suspended from practice for nine months by the Solicitors Disciplinary Tribunal and ordered to pay costs of £21,129. In a separate case, a junior solicitor has been suspended for a […]