Sam Woods appointed Chief Exec at PRA
Sam Woods has been appointed as the new Chief Executive of the Prudential Regulatory Authority The Oxford graduate will replace Andrew Bailey on 1st July, when Bailey moves to the Financial Conduct Authority. Mr Woods will remain in his current position as Executive Director of Insurance at the PRA until he takes up his new […]
SLC Spring Roadshows
The Society of Licensed Conveyancers (SLC) is delighted to announce that the dates and venues for the SLC Spring Road Shows for 2016 have now been confirmed. Tuesday April 26th – Cambridge United Football Club Wednesday May 4th –Howdens Group Office, London Wednesday May 18th – Mercure Hotel, Cardiff Tuesday May 24th – Macdonald Hotel, […]
CML members approve trade body’s merger plans
Members of the Council of Mortgage Lenders have approved plans to merge the body with other financial services bodies. 75% of CML members voted in favour of the plans which would see a new trade body formed, incorporating the British Bankers Association, Payments UK, the UK Card Association and Asset Based Finance Association. The decision […]
SLC write to SRA over end of run-off cover
The Society of Licensed Conveyancers have written to the Solicitors Regulatory Authority over the end of run off cover provision. The SLC have asked for the SRA to set a timeline for removing the requirement for firms switching regulator to exercise run-off cover on professional indemnity insurance. The SLC say they welcome the move and […]
Former Chief Land Registrar lays into Government over plans to privatise Land Registry
John Manthorpe, the former Chief Land Registrar has criticised the government over it’s plans to privatise Land Registry. The government published the consultation at 5pm on Thursday 24th March, before the long Easter weekend. Writing to both the government and shadow ministers, the former Chief Land Registrar said: “The Registry’s independence from commercial or specialised […]
RICS downplays government’s 1 million homes target as “not such an ambitious ambition”
The Royal Institute of Chartered Surveyors has poured cold water on the government’s stated ambition to build a million homes, saying “it doesn’t seem as ambitious as some may think.” It comes as the government announce they intend for one in five of those homes to be “starter homes”. Simon Rubinsohn, Chief Economist for RICS […]
Government says new Right to Buy replacements are on target for “one to one” replacements.
The government says nearly 50,000 homes have been bought with Right to Buy since the scheme was “reinvigorated” in 2012. The government also say that the target for one to one replacement has been exceeded, with 5,000 more starts on properties than sales. Housing Minister Brandon Lewis said: “We are determined that anyone who aspires […]
SearchFlow comments on HMRC’s latest release of UK Property Transaction Data
HMRC has revealed that residential property transactions have increased by 5.5% between January 2016 and February 2016. The seasonally adjusted figure is 16.1% higher compared with the same month last year. The number of non-residential property transactions has increased by 10.9% between January and February 2016, which is 12.7% higher compared with the same time last […]
Government publishes consultation on privatising Land Registry
The government has published a public consultation on privatising Land Registry. The consultation document says: “This consultation sets out options to move Land Registry into the private sector. A sale of Land Registry is expected to deliver a capital receipt for Government. This can be invested elsewhere for the benefit of the tax payer. In […]
SRA launch online solicitor checking database
The Solicitors Regulation Authority have launched an online database of law firms which they say will improve access to information on the 10,000 plus law firms they regulate. Law firm search, which can be found here, allows people to check whether firms are authorised by the SRA and provides some data such as contact details. It […]
CLC to cut regulatory fees by 20% by November
The Council for Licensed Conveyancers have announced their intention to cut fees for those it regulated by a fifth with the changes set to come into effect at the beginning of November. According to the CLC, the Financial Statements and the Annual Report published in February show a year of wide-reaching change including the CLC’s […]
Law Society to consult on client account alternatives
The Law Society is asking for views on possible alternatives to client accounts. The Solicitors Regulation Authority is also expected to consult on the issue as part of its review of the Solicitor’s Handbook later in the spring. Law Society chief executive Catherine Dixon said: “The Law Society would oppose any attempt to restrict solicitors […]
Land Registry completes 185,139 searches in February
According to newly released statistics, Land Registry completed 185,139 searches in February, down from 186,183 in January, and 199,972 in December. In total there were over 1,552,805, applications, up from 1,422,400 applications in January. This includes 347,578 applications in respect of registered land (dealings), down nearly 4,000 from January and 12,000 from December. There were […]
Budget 2016: Search Acumen comments on Land Registry privatisation and commercial property stamp duty reform
Andrew Lloyd, Managing Director of Search Acumen, comments on Land Registry privatisation and commercial property stamp duty reform: “After being resurrected in the Autumn Statement, it’s clear that George Osborne is still set on pursuing the privatisation of Land Registry. Today’s Budget leaves us with no further clarity about the options on the table, but suggests […]
Changing Regulators: Planning for the future
Regulatory choice is now a reality. Firms can strategically review the benefits and drawbacks of different regulatory systems, before choosing how structure their business, says Katie Jackson of Honne Ltd. If you are worried about the cost of regulation, compliance with CQS, and PII premiums, you may find it worthwhile exploring the option of a […]
Government to call for evidence on making the house buying process “more consumer friendly”
As part of George Osborne’s budget announcements, the UK Government has said it intends to ask for evidence on how to make the house buying process better value for money. Citing as yet unpublished guidance from he Department for Business, Skills and Innovation, the detailed budget announcement read: “Consumers spend £270 million each year on […]
Former Poundland owner lining up to buy Land Registry
A private equity firm which currently owns DFS Furniture is reportedly planning a £1 billion takeover of the Land Registry. Advent International which previously owned Poundland in the UK, and currently has an international portfolio of investments including Worldpay and Fat Face in the UK, as well as radio stations, bankruptcy providers, fast food chains […]
Right-to-Buy to be suspended by fourth Welsh local authority
Right-to-Buy is disappearing from Wales with a fourth council set to suspend the policy, citing diminishing stocks and large waiting lists. Anglesey, or Ynys Môn voted on a decision to ask the Welsh Government for a five year suspension today after it was previously granted to Swansea, Carmarthenshire and Flintshire. Anglesey will make the application […]
CHAPS to run longer from June
CHAPS to run longer from June Bank transfer system CHAPS is to stay open an extra hour and forty minutes from 20th June. The Bank of England’s Real Time Gross Settlement System, which processes the payments, will enable banks and building societies to make bank to bank transfers until 18h00, and 17h40 for customer to […]
Legal & General call on George Osborne to lay off Buy-to-Let
The Director of Legal & General’s Mortgage Club has called on George Osborne to leave the Buy to Let sector free of further changes in his upcoming budget. Jeremy Duncombe also called for a “housebuilding revolution” whilst speaking to The Times. Jeremy Duncombe said: “We need to see positive change if we are to combat […]
