No holiday for AML enforcement as SRA shares details of penalties totalling £275,000 in July
Decisions shared by the Solicitors Regulation Authority in July reveal 13 firms have been fined a total of £275,170 for AML breaches dating back to 2011 – with one firm fined £114,006. Amphlett Lissimore Bagshaws in London received the hefty sanction for failing to implement adequate policies, controls and procedures (PCPs) and failing to conduct […]
Solicitor struck off for ‘widespread and fundamental non-compliance’ with AML regulations
A solicitor has been struck off and ordered to pay costs of £29,775.84 for multiple breaches of Money Laundering Regulations that the Solicitors Disciplinary Tribunal said represented ‘widespread and fundamental non-compliance with critical regulations’ amounting to systemic failures. The judgment was issued against William Joseph Harris following an application by the Solicitors Regulation Authority detailing […]
Transaction times edging back up towards 2022 peak
The time it takes to exchange on a property is creeping back up, according to the latest Housing Insight Report from Propertymark, with 39% of estate agents reporting transaction times of 17 weeks or more. The company’s June report – based on responses to a monthly survey of around 100 Propertymark member agents across the […]
CLC publishes new Risk Agenda, with a focus on ethics and a warning against post-completion ‘slacking’
The Council for Licensed Conveyancers has published its Risk Agenda for 2025, which encourages conveyancers to focus on ethics and ethical conduct. The CLC has also warned against treating post-completion HM Land Registry applications ‘as an afterthought’. The new Risk Agenda underlines ‘the fundamental importance’ of ethics and ethical conduct, and sets out what the […]
Solicitor loses High Court appeal against being struck off for improper transfers and dishonest conduct
A former solicitor has lost an appeal against a decision of the Solicitors Disciplinary Tribunal, which had ordered him to be struck of the Roll of Solicitors for the improper transfer of funds and dishonest conduct. Harry Francis Cottam, who had been a solicitor over 30 years, had appealed against an October 2023 Tribunal decision […]
Resilience remains the buzzword as Nationwide reveals modest house price increase
Nationwide’s July House Price Index showed a ‘modest’ annual house price increase of 2.4% in July, up from 2.1% in June. Prices were up 0.6% month on month, with a house price to earnings ratio of 5.75 – the lowest level in over a decade. Many industry commentators shared the view that the figures point […]
A 13% increase in HMRC transaction data signals ‘improved buyer confidence’
HMRC monthly residential property transactions increased in June, with the provisional seasonally adjusted estimate up 13% since May and 1% higher than the previous year. There were 95,530 residential transactions in June, which HMRC said reflects a recovery from the dip seen at the end of the temporary nil-rate thresholds. Non-seasonally adjusted residential transactions increased […]
Rightmove reports ‘notable reduction’ in mortgage rates as industry awaits expected BoE cut
The current average two-year fixed mortgage rate is currently level with the average five-year rate, with both at 4.52%, according to the latest figures from Rightmove. And, according to the company’s mortgage expert Matt Smith, the rate is set to come down further if the Bank of England goes ahead with an expected cut of 0.25% […]
‘Half of homebuyers’ say conveyancing is most stressful part of moving
Conveyancing is the most stressful part of the home-moving process, according to half of the home movers surveyed by software provider Smoove. The research, which surveyed 1001 home buyers over 25 who had moved within the last six to 12 months, found that 49% of those questioned believed liaising with conveyancers was the most difficult […]
Surge in demand defies typical summer slowdown and ‘reinforces buyers market’
A surge in buyer demand is defying the typical summer housing market slowdown, accompanied by a rise in agreed sales and a record number of homes on the market. The latest House Price Index from Zoopla shows a year-on-year increase of 11% in demand and 8% in agreed sales, with an average of 37 homes […]
‘Dishonest’ licensed conveyancer banned for forging signatures and misleading HMLR
A licensed conveyancer has been banned from practising by the Solicitors Regulation Authority after forging client signatures on a mortgage deed, falsifying an email purportedly from the clients and lying about the circumstances surrounding the case. Tanya Khan, a licensed conveyancer at Mackrell Solicitors in Covent Garden at the time of the offences, also used […]
Cambridge firm fined £173,000 for failing to identify client as PEP
A Cambridge firm of solicitors has been fined £172,934 by the Solicitors Regulation Authority for failing to identify a client as a non-domestic politically exposed person (PEP). The failure by Taylors Vintner LLP led to a second firm being provided with inaccurate information, having been told that the client’s identity had been verified in accordance […]
NatWest signs formal commitment with PEXA
NatWest has signed a formal commitment with PEXA to proceed with an implementation programme for remortgage transactions by the end of the first half of 2026, with the intention of facilitating sale and purchase transactions. The FTSE-100 listed bank is the third largest mortgage lender in the UK and was responsible for 12% of all […]
‘Why the rush?’ HomeOwners Alliance has ‘serious concerns’ over CMA’s £100m proposal for house builders
The HomeOwners Alliance has said it has ‘serious concerns’ about the Competition and Markets Authority’s proposed £100 million settlement with seven major house builders, and has asked the authority to explain why it has not pursued a fuller investigation. In an official response to the CMA’s consultation on the matter, the HomeOwners Alliance has questioned […]
Increase in stamp duty revenue ‘reasonable sign’ impact of changes starting to ease
Stamp duty receipts for the April to June 2025 are £4.6 billion, according to HMRC data released this week – £0.4 billion higher than the same period last year. The latest figures take the total paid in stamp duty for the first six months of 2025 to £6.6 billion – up from £5.4 billion over […]
FCA simplifies remortgage rules
Borrowers will find it easier to remortgage under changes announced by the Financial Conduct Authority (FCA), in a package of measures designed to help people navigate their financial lives and support economic growth. The measures are part of a series of reforms the regulator is undertaking to ensure more people can benefit from choice in […]
HMLR beat March 25 deadline for 95% submission turnaround within 12 months
HM Land Registry (HMLR) say they have beaten their self-imposed March 2025 deadline to process 95% of all applications within 12 months of submission; evidence of the progress they have made in the years since COVID-19 and the sizeable backlogs that ensued. The achievement was highlighted in the recently published 2024/25 Annual Report and Accounts […]
CLC to launch thematic review into referral fees
The Council for Licensed Conveyancers (CLC) has announced it will conduct a thematic review into referral fees in the wake of the recently aired BBC Panorama documentary on conditional selling. In a statement on its website, the regulator said the programme had: “…highlighted serious concerns about conditional selling and the questionable sales tactics of certain […]
Vast majority of conveyancers ‘not confident’ in sales process
The Council for Licensed Conveyancers (CLC) is urging practices to engage with opportunities to improve conveyancing transactions, after it emerged that a significant majority of conveyancers do not feel confident in the process. The CLC’s third quarterly Confidence Tracker has revealed that 85% of respondents feel unconfident or neutral about the sales process, with […]
End of chancel checks? Law Commission to consult on extent of homeowner’s liabilities
The Law Commission have launched a consultation on proposals to clarify chancel repair liability (CRL) and potentially end such, unless there is an entry on the property title. The Commission’s paper and consultation, which runs until 15th November 2025, highlights a need to clarify the current ‘uncertainty’ around the intention of the Land Registration Act […]