Major lenders refuse to lend on property with spray foam insulation
Major high street and specialist equity release lenders have said they will not lend of property which has spray foam insulation installed. An investigation by the BBC has revealed five of the top 20 lenders, TSB Bank, Skipton Building Society, Co-operative Bank, Principality and equity release lender Aviva, will not lend on properties where spray […]
Market busier than this time last year with more completions on the way – Rightmove
The number of sales being agreed is still 26% ahead of the quieter market at this time in 2023 with the number of new seller coming to market 6% ahead of the same period a year ago. The figures have been released by Rightmove in their latest House Price Index and show ‘some early signs […]
HMLR “disappointed” by PCS strike ballot
HM Land Registry has described the decision by the Public and Commercial Services (PCS) Union to ballot members on strike action over plans to return to the office for a minimum number of days per week as ‘disappointing.’ The agency has said it consider industrial action to be ‘a last resort’ adding it is ‘committed […]
Just 11% of homeowners return to their previous conveyancer
Just 11% of homeowners return to the firm who completed their property purchase according to newly released data, despite 3/4 saying they would use their conveyancer again. Research compiled by TwentyConvey, part of TwentyCi, reviewed 30,000 sale transactions and identified just 11% of them were being transacted by the same firm who last bought the […]
Sellers undeterred by Budget says estate agency
84,000 more homes have hit the property market following the Autumn Budget indicating sellers were undeterred by the first Labour Budget in 14 years according to online estate agency Yopa. The agency reviewed for sale stock listings sourced from Rightmove looking at total market listings and what number had been listed for sale in the […]
Auction-style datarooms to streamline property transactions
Datarooms, popular with auctions houses into which property and legal documentation can be access by buyers and lawyers, could help streamline the home moving process following their introduction into private treaty sales. The claim has been made by Property Information Products (PIP) whose founder launched datarooms into auctions in 2007. David Sandeman of Essential Information […]
HMLR staff could strike following plans to mandate office return
The Public and Commercial Services (PCS) union has said it will ballot workers at HM Land Registry over plans to ‘order’ staff to work in the office three day a week. PCS members at offices in Croydon, Birkenhead, Coventry, Durham, Lancashire, Gloucester, Hull, Leicester, Nottingham, Peterborough, Plymouth, Telford, Wales, Weymouth will be asked whether they […]
Open letter calls for TA6 5th edition withdrawal
The Law Society have been accused of creating ‘uncertainty’ over its decision to extend the dual use of both the 4th and 5th edition of the TA6 Property Information Form, with the withdrawal of the form the ‘wishes’ of its members say pressure group the Property Lawyers Alliance. On 6th November Law Society CEO Ian […]
LSB launches consultation into how regulators will oversee prevention and detection of economic crime
A consultation on how legal regulators, including the Solicitors Regulation Authority (SRA) and Council for Licensed Conveyancers (CLC), can ‘promote the prevention and detection of economic crime’ has been launched by super-regulator, the Legal Services Board (LSB). Launched on 15th November 2024, the consultation will run until 7th February 2025 with the objective to ‘underline […]
“Sharp rise” in interventions prompts client account consultation
The Solicitors Regulation Authority (SRA) has launched its anticipated consultation on client money in legal services to review whether it remains appropriate for law firms to continue to hold significant funds in their accounts. The regulator announced plans to launch its consultation last week with SRA Chair Anna Bradley saying the reforms would tighten the […]
HMLR updates the the registration of personal covenants
HM Land Registry (HMLR) has announced it has made its process for entering personal covenants in the register more consistent with a new entry into the register effective from 13th November 2024. User will now see a new entry in the register in respect of personal covenants: HMLR says it will make this entry regardless […]
Failure to disclose links to borrower lands solicitor with £12500 fine
A conveyancing solicitor who failed to disclose links to a borrower has been fined £12500 by the Solicitors Disciplinary Tribunal (SDT). Mark Robert Westwood, a consultant at ONP Group, acted in five transactions between September 2016 and October 2020 in which he himself, or a relative, was the borrower; a conflict of Section 1.15 (Part […]
‘Happy Days’ helps firm be recognised as one of the best companies to work for
A CLC-regulated conveyancing firm based in Wales has been accredited in the ‘National Top 100 Companies to Work For’, attributing its success to their proactive approach to employee wellbeing and welfare. Convey Law has been listed #22 in the Top 25 Best Companies to Work for in Wales; #17 in the sector list for Law […]
‘Cautious optimism’ after new build activity falls to lowest levels since 2014
An uplift in the number of homes developers have registered their intention to build has given rise to ‘cautious optimism’ from UK house builders according to figures released by the National House Building Council (NHBC). But the picture is tempered by 9% reduction in the number of properties completed by comparison to the same time […]
Property market still on the up says RICS
Buyer demand remains broadly stable and a slight increase in positive sentiment around agreed sales is the story of the latest Royal Institution of Chartered Surveyors (RICS) monthly residential market report. The RICS Residential Market Survey is a monthly sentiment survey of Chartered Surveyors who operate in the residential sales and lettings markets providing a […]
Mortgage search levels return to pre-Budget levels
Twenty7tec has announced mortgage market statistics for early November 2024. In week 45 (week beginning 3rd November 2024), they saw 264,422 residential mortgage searches, which was up 9.88% on the prior week. 61,557 Buy To Let mortgage searches, which was up 13.36% on the prior week and 100,701 ESIS documents prepared, which was up 12.46% […]
The Conveyancing Foundation thanks SLC conference for championing wellbeing in the industry
The Conveyancing Foundation was thrilled to be this year’s Charity Partner at the Society of Licensed Conveyancers (SLC) Conference 2024. This partnership offered a opportunity to promote the importance of wellbeing across the conveyancing sector, with industry professionals showing a shared commitment to building a more compassionate and resilient workplace for all. Elizabeth Rimmer, CEO […]
Propertymark urges immediate action on the cladding crisis following a damning report from the National Audit Office
Propertymark is urging the Ministry of Housing, Communities, and Local Government (MHCLG) to do more to ensure unsafe cladding is replaced in buildings over 11 metres high. This is in response to ‘damning’ cladding report after the Grenfell tragedy in June 2017. The report found that 1,392 buildings had fully replaced all flammable cladding, as […]
OPDA comment on The Data Use and Access Bill
The Data Use and Access Bill has come out which could transform the way that we use and share data, which in turn could change the way that people buy and sell property. Maria Harris, the chair of the Open Property Data Association said that the Data Use and Access Bill that has been announced […]
Move Reports announces addition of Neil Wood on the board
With 12 years in the property sector and in direct consultation with lawyers on their conveyancing due diligence needs, Move Reports have said that Neil understands the challenges modern conveyancers face and takes his position with immediate effect. His experience in delivering keynote presentations and webinars will build on the program of education that Move […]
