UK House Price Index reveals £27,000 annual increase

The latest house price data published by HM Land Registry (HMLR) for December 2021 show that average house prices in the UK increased by 10.8% in the year to December 2021, up from 10.7% in the year to November 2021. The average UK house price was £275,000 in December 2021, which is £27,000 higher than this […]

SRA Survey: is legal technology appropriate for the general public?

The Solicitors Regulation Authority (SRA) would like to understand your views on the acceptability of legal technology (lawtech) for the general public in its latest survey. This survey is aimed at lawyers who work directly for individual clients and SMEs, and is being conducted in parallel with a survey aimed at consumers. It is being […]

What is open banking and what does it mean for legal services?

January marked Open Banking’s fourth birthday, but it is still a foreign concept for many, including the legal sector.  Questions as to what Open Banking even is, and how it can be applied, remain unanswered. To help shed some light on this, Open Banking experts, Cashroom and Armalytix, tackled some key questions around the applications […]

Commonhold: public sceptical reform will ever happen

Fewer than one in ten leasehold practitioners have seen an increase in enquiries about commonhold since the Ministry of Housing, Communities and Local Government (MHCLG) announced their intention to establish a Commonhold Council in January.  The previous Secretary for Housing, Communities and Local Government, Robert Jenrick, outlined proposed leasehold reforms on 7 January 2021, including the […]

What is a UPRN? And how can it help conveyancers?

A UPRN is a Unique Property Reference Number. Unlike a Title Number, a UPRN can connect a whole range of property related activities such as surveys, sales and paperwork, to one unique ID. UPRN’s might be best compared to the number plate on a car. A unique reference point to which a range of information […]

Property professionals placing promising emphasis on wellbeing initiatives

The early results of an industry-wide piece of research has revealed that property professionals have made significant changes to their wellbeing offerings in the wake of the covid-19 outbreak. Conducted by tmgroup and mio ‘The New Normal’ survey, running until 22nd November 2021, has already attracted responses from over 300 property professionals – including residential […]

The Planning Inspectorate Strategic Plan 2021-2025

A new plan has been published that aims to respond and prepare the Planning Inspectorate for change and uncertainty, to enable the nation’s recovery from the Covid-19 pandemic. The Planning Inspectorate has published its Strategic Plan for 2021-2025 which sets out a new strategic vision for the organisation, to provide high quality, timely and efficient […]

Simplifying conveyancing: making our digital channels easier to use

Our absolute priority at HM Land Registry is to make our services faster for our customers. While improvements are being made through recruiting more caseworkers and streamlining our internal processes, we believe real improvement needs to ensure we are making the most of digital technology in the way we provide our land registration services. Our […]

3 Key Law Firm Trends for 2022 and 3 Key Legal Client Trends

There’s no doubt that the past two years have sparked an unprecedented level of change in both our personal and professional lives—and crucially, in how conveyancers run their conveyancing firms. The question that should be on every conveyancing firm’s mind is, what’s next? Practice management software company Clio can give some insight into this very […]

Equity release set to hit £4bn in 2021

The Equity Release Council have released its Q3 market statistics which show that homeowners are, for the first time, set to access over £4bn of property wealth via equity release.  2021 has seen £3.46bn released year to date, with Q3 lending up nearly one-fifth on 2020. The equity release market has seen lending exceed £1bn […]

Government to benefit from SDLT holiday boom

SDLT

The Stamp Duty holiday contributed to the highest recorded revenues from Stamp Duty Land Tax over the Summer as receipts from property purchases hit £1.309 billion in July, the highest month on record and higher than the £1.196 billion taken in March. But it, while it could have been so much higher, the government could […]

AML update – the focus on AML is going nowhere anytime soon!

Our latest quarterly update webinar started with a view of the current anti-money laundering landscape including: The release of the Pandora papers, which have shown even more the extent to which the mega-rich employ different ways in which to hide their money and avoid paying tax on it; of particular concern to authorities is the […]

De-Mystifying Blockchain – Today’s Conveyancer Podcast

The Today’s Conveyancer podcast returns with an episode dedicated to de-mystifying blockchain. In this episode we introduce Dan Salmons, CEO of Blockchain technology provider Coadjute. Dan sets out to de-mystify what blockchain technology is, and more importantly how it has the potential to make the “quantum leap” in the battle against seemingly ever increasing transaction […]

PII renewal remains challenging: Why? How can you mitigate against it?

By the time this article is published, we will have got through the key 1st October renewal date for SRA regulated Firms, following the immensely difficult CLC renewal earlier in the summer. Overall the Market for Legal Firms’ Professional Indemnity Insurance (PII) remains very challenging, and indeed we have seen some Firms simply being unable […]

52% of new mortgages will end after borrowers turn 65

Findings from a new report commissioned by UK Finance reveal that 52% of new mortgage lending is going to borrowers who will not have paid off their home loan before their 65th birthday. Longer mortgage terms and an ageing population are helping to drive the trend towards later life borrowing, and is the first time […]

Average time to sell climbs to around 10 months

The average time it takes to sell a property has climbed to 320 days according to the latest data release from the estate agent comparison site, GetAgent.co.uk. GetAgent.co.uk keeps a comprehensive record of transaction times by monitoring the point at which a property is listed for sale to its entry as sold with the Land […]

Work to be done on supervision of AML regime

The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) has released its latest report on progress made in tackling money laundering by regulators over the past year. While this year’s report acknowledges that professional body supervisors (PBSs) within the accountancy and legal sectors have improved, it highlights differing levels of achievement and “significant weaknesses in […]

Are conveyancers losing money due to an outdated onboarding process?

Business leaders significantly underestimate how much inefficiency is costing them. It’s too easy to ignore the bigger picture and stick with an “it’s not perfect, but it works” attitude. But what if fixing that imperfect process unlocked 15% more capacity for you to take on extra clients without increasing your workforce? What would that look […]