Law industry comments after Labour proposes £2.6billion cash injection to close non-dom ‘loopholes’
The UK shadow Chancellor claims that labour will raise £2.6billion over the course of the next parliament to close what they call ‘loopholes’ in the governments plans to abolish exemptions for people who are not domiciled (non-doms) in the UK for tax purposes. Labour’s Rachel Reeves has responded to questioning about how the opposition will […]
Fall-throughs already costing UK home sellers £909m and now market activity is about to surge, research reveals
New research has revealed that fall-throughs are costing home sellers an estimated £909 million a year. Home Sale Pack has analysed residential fall-through data from TwentyCI* and measured it against the estimated cost of a collapsed sale, based on source value versus house price, adjusted for inflation and including likely legal costs, to understand how […]
Only 25% of legal associates want to make partner in their firm within the next 5 years
LexisNexis Legal & Professional® released a new report – Disloyal lawyers: has the partnership model lost its lustre? – which reveals the majority of legal associates aren’t racing to take on the responsibilities, risks and potential rewards of partnership. A LexisNexis survey of 500+ law firm associates and senior leaders found only a quarter […]
New-build sector ‘driving housing market revival’
New research has revealed that when it comes to the current property market revival, improving house price performance is being “very much driven by the new-build sector”, with existing homes still struggling against current market headwinds. APRAO analysed the latest Gov data for both new-build and existing house prices going back over the last decade, […]
British Conveyancing Awards 2024: Brochure and video released
The glamour of the conveyancing profession took centre stage at the 4th annual British Conveyancing Awards, an evening filled with laughter, camaraderie, and well-deserved recognition. The winners edition brochure and video from the event have been released, offering a captivating glimpse into the festivities of the night. The video invites viewers to reminisce about the […]
Property Insights Round Up: 8th April
As March unfolded, the property market showcased a complex interplay of trends and shifts – including mortgage market fluctuations, sales dynamics and house price movements. According to data released by Twenty7tec, March brought forth developments in mortgage search patterns. Purchase mortgage searches experienced a notable decline of 8.1% compared to the previous month. Similarly, remortgage […]
Exclusive: what £23m investment means for the property market
This week Coadjute announced a £10m strategic investment funding round led by Lloyds Banking Group and including Nationwide, NatWest, and property portal Rightmove, bringing the banking and property portal behemoths together for the first time. It brings the total accumulative investment in the organisation since its launch in 2018 to £23m Today’s Conveyancer sat down […]
New report reveals latest borrowing trends
A new report revealing the latest trends and future predictions in UK lending and borrowing has been launched. The most notable trends include the growing importance of brand and trust for borrowing decisions and AI innovation, a dip in the number of people factoring green credentials into their decision making and the growing popularity of […]
Movers undeterred by general election, survey finds
According to a recent survey conducted by property firm Savills, the majority of buyers and sellers in the prime housing market remain undeterred by the impending general election. Out of 1,200 prime home movers surveyed, which was reported by Property Industry Eye, 79% indicated that the upcoming election does not affect their plans to move, […]
Conveyancing Foundation leads national conveyancing coffee morning fundraiser
During National Conveyancing Week, from the 11th to the 15th of March, organised by Bold Legal Group and Todays Conveyancer, the Conveyancing Foundation were proud to support this incredible initiative. By pledging to match all funds raised for charity by law firms through the Collaboration Coffee Mornings, the Foundation played a pivotal role in fostering […]
Buyer demand continues to climb as market makes a ‘return to health’
The latest Homebuyer Hotspots Demand Index has revealed that buyer demand has continued to climb in Q1 2024, up +1% versus the final quarter of last year and returning to the same levels seen at the start of 2023. GetAgent’s Hotspots Demand Index monitors homebuyer demand across England on a quarterly basis. Current demand is […]
Rightmove reveals Easter new seller surge
New data from Rightmove reveals Thursday 28th March was the biggest day for the number of new sellers coming to market so far this year. It was the third biggest day for new listings coming up for sale since August 2020, with Boxing Day in 2022 and 2023 being the only days with more properties […]
“Letting logbooks” trial for buy to let properties
Property logbooks for rental and buy-to-let properties are being trialed in partnership with Birmingham City Council and the Connected Places Catapult as part of a ‘wider programme of innovation in the West Midlands.’ Logbooks which include a Lettings Pack have been launched to help with the collation of data associated with rental property when purchasing […]
Law firms remain resilient in tough economic times – The Law Society
Against a tough economic backdrop and with the cost of living rising sharply, law firms saw profits go only marginally down, according to the Law Society’s Financial Benchmarking Survey that provides an overview of the financial performance of the legal sector. The research shows that profits per equity partner continued the pre-COVID trend, with median […]
Calls for second staircases in all new tall residential buildings
The government has updated its guidance calling for second staircases in all new tall residential buildings over 18 metres – further enhancing the UK’s world-leading building safety standards. The change in guidance adds to a package of recent fire safety measures and reforms including the Building Safety Act which ensure the safety of people in both […]
House price bounce weighed down by costs and ‘unyeilding’ mortgage rates
Nationwide has published its house price index for March, with the building society’s Chief Economist saying the property market has remained ‘relatively subdued’ by historic standards. House prices have bounced back after a 0.2% drop last month, totalling a 1.6% rise in the last year – making the new average property price £261,142. All regions […]
Prime London buying stalls in the first quarter
Demand for prime London homes valued at above £2M had declined in the first financial quarter, according to the latest analysis. Super prime property, valued at above £10M, has also seen a drop in demand – with just a handful of locations seeing an increase in buyer appetites. Benham and Reeves have revealed from their […]
Lloyds Banking Group, Nationwide, NatWest and Rightmove join forces with Coadjute
Lloyds Banking Group, Nationwide, NatWest, and Rightmove have announced an investment in Coadjute. This is the first time that the UK’s three largest mortgage providers have come together to fund a PropTech. Lloyds Banking Group, as lead investment partner, has invested £3 million as part of a £10 million funding round to support Coadjute’s long-term […]
February sees surge in mortgage approvals – BofE
Mortgage approvals for February soared to 60,383, marking a significant rise from January’s figure of 56,087, according to the Bank of England. This represents a robust month-over-month increase of 7.7% and a 39.8% surge year-over-year compared to February 2023, which recorded 43,207 approvals. This places mortgage approvals at their highest level since September 2022, when […]
Conveyancing protocol forms updated
The latest iteration of the Buyer’s and Seller’s Property Information (BASPI) schema has been launched with amendments to both Part A (the disclosure of material facts) and Part B (additional information required for the legal process). The release comes in the same week as updated TA6 forms were released by The Law Society. BASPI has […]
