Conveyancer acting for Angela Rayner clarifies role: ‘We did not give tax or trust advice’
The managing director of the conveyancing firm that handled the purchase of Angela Rayner’s Hove flat has issued a statement to The Telegraph, explaining that the firm did not give tax or trust advice. Joanna Verrico, of Herne Bay firm Verrico & Associates Ltd, told the newspaper: “We acted for Ms Rayner when she purchased […]
Purchasing down but mortgage lending up in ‘market showing underlying momentum’
The Q2 Household Finance Review from UK Finance shows an expected drop in purchase transactions following stamp duty changes. But with mortgage lending returning to growth, the financial services trade association says the data suggests continuing underlying momentum. Despite the anticipated decrease in purchase activity following the large spike in March, Q2 applications were up […]
Propertymark data shows drop in demand, but market ‘remains buoyant’
The latest housing insight report from Propertymark shows a drop in demand over July, but the number of transactions and appraisals reflect a buoyant market and unshaken consumer confidence, the organisation says. The monthly survey of Propertymark member agents reveals the average number of new buyers registering per member branch dropped by 11 to 65 […]
Average monthly mortgage repayment ‘close to half of gross salary’
Analysis by financial data company Moneyfacts reveals monthly mortgage repayments of an average earner now amount to almost half of their gross salary, reaching levels last seen in the 2008 financial crisis. At the turn of the millennium, the average house price was £78,000, around five times the average wage of £15,800. Now, the average […]
Rayner ‘throws conveyancers under the bus’ as she fights for political future
The position of Angela Rayner is in doubt today after she admitted to underpaying stamp duty by up to £40,000. But while Sir Keir Starmer defended his deputy, conveyancers were up in arms about the reason the deputy prime minister gave for what she insisted was a mistake. In a lengthy statement, Rayner outlined her […]
TPFG and Simplify join forces to deliver conveyancing services
Conveyancing and property services group Simplify and estate agency franchisor The Property Franchise Group (TPFG) have established a partnership to deliver conveyancing services to their brands. The partnership will see Simplify and TPFG combine data sharing, the selling of services and conveyancing delivery, aimed at reducing duplication and improving exchange times. The deal also gives […]
‘Dramatic shift’ in climate sentiment, with conveyancers increasingly advising on risk
Research from Landmark Information Group has identified a dramatic shift in buyer sentiment surrounding climate change, with 99% of property professionals surveyed for the research reporting rising concern amongst buyers. In the survey of 150 conveyancers, estate agents and mortgage lenders, 99% said clients are concerned about the impact of climate change when buying a […]
HMLR amends easement descriptions amid confusion over inconsistencies
HM Land Registry is amending descriptions of easements in title registers to provide greater consistency, clarity and accuracy, after some legal professionals found the wording confusing. Writing in an HMLR blog, head of practice David Linn said descriptions will be updated with new standardised language from 15th September. Explanatory notes will also be updated. No […]
39% of lawyers say not engaging with AI could harm their future careers
Nearly two thirds of lawyers are now using artificial intelligence to support them in their roles, but appear to be doing it off their own back. Only 17% of lawyers say their firm has a ‘fully embedded’ AI strategy and operation, with two-thirds reporting their organisation’s AI culture is slow or non-existent. However, adoption is […]
Nationwide’s report of softening house price growth ‘no surprise’ for upbeat property experts
Nationwide’s August House Price Index shows a softening of growth, with prices down 0.1% since July. But with wider conditions supporting buyer demand, industry commentators said the news is ‘no surprise’ and will ‘drive a strong finish to the year for the housing market’. ‘August saw a slight softening in the rate of annual house […]
Conveyancers honoured at upcoming EA Masters
Conveyancers across the UK will be honoured for their role in delivering fast, reliable property transactions at the upcoming EA Masters, to be held in London on the 4th November. The event will also see the launch of the Best Conveyancer Guide, celebrating firms that consistently enable speed and certainty in the home-moving process. Over […]
Increase in property transactions met with relief by sector
UK residential property transactions increased by 4% in July compared to the same period last year, with the seasonally adjusted estimates showing a 1% rise since June. The provisional non-seasonally adjusted estimate also sits 4% higher than July 2024, with the monthly increase rising by 5%. Seasonally adjusted non-residential transactions were 1% lower than June […]
Government ‘will overturn planning decisions that obstruct housing targets’
Councils will be forced to rewrite local plans to include higher housing targets or face being stripped of their decision-making powers, according to a report in The Guardian. The Ministry of Housing, Communities and Local Government (MHCLG) is reportedly planning to cut the number of appeals local authorities can have overturned before sanctions are imposed […]
Law firms ‘among least prepared for new fraud regulations’
More than half of UK law firms are unprepared for the new ‘failure to prevent fraud’ offence coming into force under The Economic Crime and Corporate Transparency Act (ECCTA) today, according to a new report from compliance training provider Skillcast. The legal sector ranks among the least prepared industries, with major governance and transparency gaps […]
Client account roundtables offer more questions than answers on the future of legal aid funding
Recently run roundtables to discuss the option of funding access to justice through interest on client account, first previewed in The Law Society Gazette, have created more questions than answers according to attendees. In July it was reported Legal Aid providers were invited to a series of roundtables to discuss the future of legal aid, […]
Analysis reveals top red flags for source of funds checks
Client due diligence platform Thirdfort has analysed tens of thousands of Source of Fund (SoF) verifications completed via its app, and identified five emerging challenges it says compliance professionals should be aware of. The company completes around 25,000 SoF verifications every month, analysing documents and Open Banking data shared by clients – including savings, mortgages, […]
Knowledge transfer partnership aims to boost legal services with AI
Digital transformation experts at Aston University have formed a partnership with Birmingham-based commercial law firm Harper James to develop an intelligent legal services platform aimed at reshaping legal services. The three-year Knowledge Transfer Partnership (KTP) will see specialists in data science and AI at two Aston University academic centres create new technologies for Harper James, […]
Completions down 22% – but ‘momentum continues to build’ in property market
Data from estate agency network eXp UK reveals completions fell by 22.5% in Q2 compared to the previous quarter – but with sales up 13% and new listings climbing 15%, the company says housing market momentum is continuing to build. The analysis, based on the firm’s own internal data, looked at market activity based on […]
Mortgage Guarantee Scheme data reveals ‘lacklustre’ impact
Newly released government statistics on the impact of the Mortgage Guarantee Scheme reveal a total of 56,389 mortgages have been completed with the support of the scheme between 2021 and 2025. The mean value of a property purchased or remortgaged through the scheme was £215,467, compared to a national average house price of £271,000. The […]
First conveyancing firm gets CLC approval to appoint PEXA as TPMA
Bolton-based property law firm Amity Law has become the first conveyancing practice to appoint PEXA as its third party managed account provider (TPMA), after receiving approval for the move from the Council of Licensed Conveyancers (CLC). The announcement follows the Financial Conduct Authority’s (FCA) approval of the digital property exchange platform’s application to become an […]