Director of Fine & Country comments of Bank of England base rate and inflation
The Bank of England has reduced interest rates from 5.25% to 5%, marking the first decrease since the start of the pandemic in March 2020. The cut comes as a result of wider economic stability and inflation holding at 2% for the last two months. In response to the Bank of England’s announcement on interest […]
Upcoming courses – Today’s Training
Residential Service Charge Issues – Tuesday 3rd September (Ian Quayle) 1 hour session £55 Find out more about the course details here: https://todayslegaltraining.co.uk/webinar/residential-service-charge-issues/ The Trust Register – the need to knows in 2024 – Wednesday 4th September (Helen Forster) 1 hour session £55 Find out more about the course details here: https://todayslegaltraining.co.uk/webinar/the-trust-register-the-need-to-knows-in-2024/ Buying […]
Property Industry Unites at Aconveyancing’s Crystal Maze Challenge Supported by the Conveyancing Foundation
The Conveyancing Foundation was thrilled to be the official charity partner of this year’s Aconveyancing Crystal Maze Challenge, held on June 26th, 2024, at Mythe Barn in Atherstone. This event brought together professionals from the property industry for a day of fun, networking, and fundraising, all in support of The Forward Trust and it’s Action […]
Dudley Building Society named UK’s Best Workplaces for Women
The 2024 UK’s Best Workplaces for Women has officially recognised Dudley Building Society within the medium category among the 330 ranked organisations. The 2024 UK’s Best Workplaces for Women™ List is made up of employers whose people have told Great Place To Work® UK they work for a place that is inclusive and equitable for all. The 330 companies on […]
320,000 have been pushed into poverty by high mortgage rates
A report from the Institute for Fiscal Studies (IFS) has predicted that an extra 320,000 people have been pushed into poverty as they moved onto more expensive deals, as a result of the rise in mortgage rates in the last two years as reported by The Guardian. The rise in mortgage rates saw the average […]
New customer revival drives 15% rise in Q2 equity release lending
The Equity Release Council’s latest quarterly market report shows that new customer numbers rose by 12% in Q2, compared with Q1, while total lending rose 15% to £578m. A double-digit rise in the number of customers taking out new products made Q2 2024 the busiest quarter for almost a year for the equity release market […]
Law Society survives no confidence vote
Law Society CEO Ian Jeffery and President Nick Emmerson survived a vote of no confidence at today’s Special General Meeting, called in response to the roll out of the updated fifth edition of the TA6 property information protocol form. A full write up of the meeting, which was chaired by vice president Mark Davies, will […]
UPDATE: Crowdstrike security software blamed for global tech issues which has affected the NHS, Ryanair and Govia Thameslink
Global organisations are returning to normal following the global outage caused by a popular anti-virus software. An update to Crowdstrike was responsible for issues with NHS, transport, retail and banking services. Some television channels could not air on Friday during the outage. The outage as initially thought to be connected to Microsoft due to an […]
Purchase mortgage searches were down 7.4% in June 2024, statistics reveal
Purchase mortgage searches were down 7.4% in June 2024 compared to May 2024 but were down 1.25%% compared to June 2023, according to Twenty7tec’s June 2024 mortgage market activity. Remortgage searches were down 7.27%% compared to May 2024 and considerably down (-24.36%) compared to June 2023. Buy To Let purchase mortgage searches were down 7.52% […]
CILEX appoints new chair
The Chartered Institute of Legal Executives (CILEX) has appointed Eileen Milner who will take over as chair from Professor Chris Bones in January 2025. Yanthé Richardson also begins her year-long term as president. Law Society of England and Wales chief executive officer Ian Jeffery said: “We thank Chris for the work he has done leading […]
EXCLUSIVE INTERVIEW: Consultation “the right thing” says Law Society CEO
The Law Society of England and Wales’ (LS) CEO has offered a robust response to the uproar surrounding the fifth edition of the TA6 Property information form, saying a consultation launched last week was the ‘right response’ after the professional body was taken to task by those in the industry. Ian Jeffery addressed the issues […]
Material Information “HIPs by the back door” – PLAG
Ahead of the Law Society Special General Meeting (SGM) on 23rd July 2023, the Property Lawyers Action Group (PLAG) has accused the Law Society of trying to introduce Home Information Packs (HIPs) ‘by the back door’ as well as suggesting that conveyancing is being ‘re-engineered to fit the law tech’ in a briefing note circulated […]
Estate Agency customer completes first pre-filled Law Society licensed Digital TA6
A York based estate agency customer has been the first to complete a pre-filled Law Society licensed digital TA6 form after changes to the form were announced earlier this year. Hunters Estate Agency, which is part of the Property Franchise Group (TPFG), have announced that one of their customers is the first to complete the […]
Home moving should be “digital when it can be, and personal when it needs to be”
Movera CEO Nick Hale joins the latest Today’s Conveyancer Podcast to discuss the his, and Movera’s, progress since his last appearance on the podcast in July 2023. Across its businesses Movera touch c.25% of all remortgage and sale and purchase transactions. Having been in the role for 2 years, Nick reflects on what he wishes […]
Market impetus expected in coming months – RICS
Weakening demand has not deterred a more positive market sentiment in the months ahead despite latest figures suggesting a fall in new buyer enquiries of 8% in May and 7% in June according to The Royal Institute of Chartered Surveyors (RICS). Current market dynamics according to the UK Residential Market Survey for June 2024 suggest […]
Bike, Boat, Boot challenge raises over £58,000
A Welsh conveyancing practice has spent the last 14 years raising money for children’s hospice Tŷ Hafan with their latest adventure raising over £58,000 for the charity. The Bike, Boat, Boot Challenge saw a group of fathers and uncles cycle, row, and hike over two hundred miles across Wales across a 4 day period in […]
Mortgage-backed transactions down -49% despite approvals positivity
New analysis has revealed that mortgage backed sales volumes over the last three months are still sitting some -49% below this time last year. Octane Capital analysed mortgage sales volumes to reveal just what impact a hike on interest rates has had to buyer appetites since the closing stages of 2021. Over the last three […]
Chancellor Rachel Reeves has announced housing targets in first major speech
In her first speech as chancellor MP Rachel Reeves has announced at the Treasury today Labour’s commitment to their housing targets, despite concerns of development on green belt areas to reach the proposed quotas. The MP has overturned Michael Gove’s reduced targets for planning and development as she confirmed homebuilding targets alongside lifting the ban […]
Equity release customers save almost £300m in borrowing costs through voluntary penalty-free repayments
Equity release customers will save almost £300 million in borrowing costs over the next 20 years having used the freedom to make voluntary penalty-free loan repayments. New data from the Equity Release Council (the Council) shows that, during 2022 and 2023, homeowners with equity release plans have made more than 360,000 voluntary penalty-free partial repayments […]
SRA consumer protection review: Client accounts vital for legal services
Firms should continue to be able to operate client accounts, as they are vital for the effective delivery of many legal services, the Law Society of England and Wales said in response to the Solicitors Regulation Authority’s (SRA) consumer protection review discussion paper. Law Society president Nick Emmerson said that the SRA is considering whether […]