Levelling-up and Regeneration Act 2023: Changes to the limitation period for planning enforcement
A significant change to the law effective today (Thursday 24th April) is poised to catch many property lawyers off guard. From today a much stricter approach to planning enforcement will be implemented, impacting property owners, developers, and (not to forget) property lawyers. In England (as opposed to Wales) under the new law, when there is an […]
Moving conveyancing ‘up stream’ – an opportunity not to be missed (again!)
Concerns about change are natural, but of course if you didn’t have them, you might think you don’t care enough about the work, and you’re prepared to allow change to happen without fully understanding what the consequences can be. I certainly get that. Change can be scary, particularly if it involves the changing of the […]
Enquiries and instructions on the up – RICS
New sales instructions and buyer enquiries are on the up according to the latest RICS UK Residential Survey results (March 2024), predicting a ‘bounce in (the) housing market in both the near and longer term.” The number of new properties coming to market rose for the fourth consecutive month with sentiment around listings up on […]
Diary of a high street conveyancer: 14th April 2024
Something has been bothering me this week; you know that niggling thing in the back of your mind that you can’t quite put your finger on… Well, I think I know what it is so let me try and share my thoughts with you It seems to me that firms charge more for acting in […]
How open data standards empower conveyancers to shape future of property transactions
In the dynamic realm of property transactions, conveyancers lead the way on seamless transitions, guiding clients through the intricate process of buying or selling. As technology continues to reshape industries worldwide, conveyancers are now on the cusp of embracing a new frontier: open data standards. At first glance, the notion of standardised property data may […]
Two Years of Progress Lost in Planning for Seniors Housing Accommodation- Pace of Change Stalls Despite Needs Increasing
New research produced by global property consultancy Knight Frank and law firm Irwin Mitchell reveal that planning remains one of the largest challenges for the Seniors Housing market as nearly a third of councils across England remain unprepared to provide suitable housing for their ageing populations. According to the survey just under a third ,(32%) […]
New Trading Standard guidance could cost vendors hundreds
Homeowners could have to spend hundreds of pounds more when selling their home owing to new Trading Standards guidance, a conveyancing solicitor has warned. The National Trading Standards Estate and Letting Agency Team (NTSELAT) guidance means homeowners will have to list a whole range of new ‘material information’ ahead of listing the property on the […]
Diary of a high street conveyancer: 25th March 2024
I often think about the ‘good old days’ of conveyancing but this week, I had cause to reflect on something which does illustrate that processes were so much easier in the old days. I have just completed the purchase of a leasehold apartment. I have served the notice on the managing agents and as is […]
‘Resilience and cautious optimism’ after positive start to 2024
Sales agreed numbers are 13% higher than last year,and demand is up 8% indicating a positive start to the year according to the figures from property portal Rightmove. The property market exhibits a ‘blend of resilience and cautious optimism.’ The average price of newly marketed properties has risen by 1.5% this month, reaching £368,118. This […]
Consultant model growing ‘significantly faster’ than traditional firms
Consultant style, or ‘Platform’ law firms are growing at a ‘significantly faster’ rate than traditional competitors with Setfords and Taylor Rose MW leading the way amongst Alternative Legal Service Providers (ALSPs). Property law continues to be the leading area of law practiced by consultant lawyers, with a small but growing proportion of family and private […]
Sign of Spring bounce as consumer sentiment on the up
The proportion of people who believe now is a good time buy a property has risen to it’s highest levels since December 2021. Sentiment around affordability of mortgage payments and concerns over mortgage repayments has also seen a move toward greater positivity in signs that the seasonal Spring bounce may be on its way. One […]
40% of consumers believe structural survey is conveyancer’s responsibility
40% of consumers believe it is the conveyancer who checks the structure of a property is sound during the home moving transaction. 48% were unaware the conveyancer acts on behalf of both them and the mortgage lender, while 2/3rd of respondents said the conveyancer’s role was to transfer the ownership of the property (68%); effect […]
First time buyers face 6.5 year wait to get on the housing ladder
First time buyers (FTBs) need to save for nearly six and a half years to raise funds to purchase their first home according to recently published research. A single person, purchasing a property at the average price of property in the UK (£234,000) with a 10% deposit and covering moving costs including conveyancing, surveying and removals, […]
PEXA UK announce further board additions
The UK arm of PEXA, the Australian property settlement business which launched in the UK in 2022, has announced further additions to it’s board. Nicky Heathcote, current Chair of the Conveyancing Association and former Chief of Staff at the HM Land Registry, and Tim Everest, a banking executive who led the transformation at Pay.UK will […]
CMA announce further commitments to ground rent reductions
The Competition and Markets Authority (CMA) has confirmed that a further 500 households will benefit from commitments to not double ground rents. It has secured undertakings from 8 investment firms who acquired the freeholds from house builders, that they will return ground rents to the original fee amount from when the property was first sold, […]
Government grab for votes may see stamp duty cuts
Housing Secretary Michael Gove has warned the government they face being beaten at the polls in the upcoming election without reform of the housing system. Speaking to a number of national news outlets over the weekend, Gove discussed issues ranging from leasehold and rental reform, making provision for housing in the upcoming budget, new build […]
Housing Minister urges ‘greater pace’ of innovation to transform home buying and selling
Conveyancers have “a central role” in realizing a digital home buying and selling process but innovation needs to happen at a greater pace, the Housing Minister told last week’s Council for Licensed Conveyancers’ (CLC) annual conference. Baroness Penn said that “placing digitalisation at the heart of our home buying and selling reforms has the potential […]
3 in 4 movers “satisfied” with home moving experience
3 in 4 home movers indicated they were “satisfied” with their home moving experience, although “a faster move” and “more frequent communication” featured highly on ways to improve to the conveyancing process. 1 in 3 UK adults would consider themselves to be aware of what conveyancing is; and recommendation remains the largest route to market […]
New sales up 13% after seasonal December slump
The return of seasonality to the property market after the inconsistency of the last couple of years was in evidence in the run up to December, before a positive start to 2024 saw a 13% increase in new sales year-on-year. The latest Propertymark Housing Insight Report, covering December 2023 identifies a fall in the number […]
“Mortgage laden” Gen X won’t clear loans before retirement
Research into Gen X has identified that over a quarter (27%) are not confident they would pay off their mortgage before age 67 with 13% firmly believing they wouldn’t and a further 14% unsure if they could. 45% of those who have a mortgage say it’s taking longer to pay off than hoped throwing a […]
