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The number of first-time buyers (FTBs) across the UK remained above pre-pandemic levels despite a 9% year-on-year fall, new data has revealed. Yorkshire Building Society estimated that there were 370,287 people buying their first property
2022 saw the conveyancing industry once again pull together to get people moved despite economic and practical pitfalls aplenty. This did, however, come against a backdrop of incessant innovation in an industry which seldom stands
Key industry figure Kate Faulkner has been awarded an OBE in the New Year’s Honours List in recognition of her pioneering work in property. Faulkner – the Managing Director of Designsonproperty.co.uk and Propertychecklists.co.uk – has
Property transactions climbed 4% month-on-month in November 2022, new data released by HM Revenue & Customs (HMRC) has revealed. Specifically, the provisional non-seasonally adjusted estimate of UK residential transactions in November 2022 is 114,200, which
The Solicitors Regulation Authority (SRA) has confirmed it is intervening into a further two firms owned by legal consortium Metamorph. Knowles Benning LLP Knight Polson Ltd The two firms are also owned by Metamorph Group
The Solicitors Regulation Authority (SRA) has confirmed it is intervening into four firms owned by legal consortium Metamorph. The intervention is deemed necessary by the SRA to “protect the interests of clients and former clients
Interest rates have reached 3.5% following the Monetary Policy Committee of the Bank of England’s decision to boost rates by a further 50 basis points. This brings the base rate to its highest level since
The mortgage market has remained relatively sturdy over the previous quarter as new Bank of England (BoE) data revealed on Wednesday that the value of new mortgage commitments in Q3 2022 was the highest seen
Property transactions are set to fall by 21% next year with lending to homeowners also falling by 23% amidst cost of living pressures and rising interest rates, new data from UK Finance has revealed. As
The Home Buying & Selling Group (HBSG) has released the first public version of its new Property Data Trust Framework with the objective of providing upfront information in an “available and sharable” digital format. The
Commentators have suggested a market “normalisation” may be underway as RICS reported new buyer demand across the UK fell for the seventh consecutive month in November – but new data from Rightmove has suggested the
New research has found one in five landlords are set to reduce their portfolio size in an effort to combat the cost of living crisis. This may offer a much needed supply boost to the
A leading conveyancer has questioned whether professional indemnity insurers would be happy at the prospect of solicitors being asked to advise on survey-related risks to property such as climate change. Philip Armstrong, owner of Armstrong
New data released by the Bank of England has revealed mortgage approvals fell by nearly 11% between September and October. Specifically, the number of approvals fell from 66,000 in September to 59,000 in October. The
National legal network QualitySolicitors (Quality Solicitors Organisation Limited) has announced a management buy-out (MBO) from previous owners Metamorph Group Limited. Victoria Browning and Paul Rawson head up the new management structure and suggest they have
New research has revealed over a million first-time buyers under 45 are set to shelve homebuying plans due to ongoing cost of living pressures and rising mortgage costs. An Aviva survey identified that just under
Conveyancing group Simplify has confirmed a redundancy process is underway in response to a “widely reported significant slowdown in the housing market”. Simplify consists of nine conveyancing businesses, six of which are amongst the largest
Rob Hailstone, Founder of the Bold Legal Group, has recently been bestowed with a “Lifetime Achievement Award” for his 48 years serving the conveyancing profession. A long-standing champion of the interests of both conveyancers and
New research has revealed over a third of first-time buyers have never heard of the Shared Ownership scheme which could give them a leg-up onto the housing ladder. What’s more, less than one in five
The Building Safety Levy has moved one step closer as the Department for Levelling Up, Housing and Communities has begun its consultation of developers and other interest parties. It is seeking views on its plans
The Legal Services Board (LSB) has called for a more consistent approach to tackling economic crime, throwing its support behind the “regulatory objective” proposed in section 155 of the Economic Crime and Corporate Transparency Bill.
The average five-year fixed mortgage rate has fallen below 6% for the first time in seven weeks, with some lenders – including Santander – cutting rates on certain products by as much as 1.25%. According
The number of UK residential property transactions dipped by 3% between October and September, new figures released by HM Revenue & Customs (HMRC) has revealed. The provisional non-seasonally adjusted estimate of UK residential transactions in
One key element of Chancellor of the Exchequer Jeremy Hunt’s Autumn Statement last week has gone under the radar – a modification of the government’s existing Support for Mortgage Interest scheme for Universal Credit (UC)
Conveyancers should up their fees, reduce workloads, and get transactions over the line faster in the process, according to one key representative of estate agents. Iain McKenzie, the CEO of The Guild of Property Professionals,
New research has revealed that 30% of UK homeowners have been gazumped before – a sign that the frustrating trend isn’t going away anytime soon. Indeed, earlier this year it was reported that as many
New data from the National House Building Council (NHBS) has revealed UK new home registrations were up a third in Q3 2022 compared to the same period last year – but warned a slowdown is
Despite firms and individuals becoming increasingly conscious of the importance of cybersecurity, new analysis has revealed that inadequate disposal of data and digital devices is posing a potentially catastrophic threat. Gone are the days where
The Public and Commercial Services (PCS) Union has announced the start of its programme of “sustained industrial action” – but the Land Registry is not amongst the initial cohort of government departments that will strike.
Chancellor of the Exchequer Jeremy Hunt has confirmed stamp duty cuts will remain in place until 31st March 2025 to support the housing market and those working within it, after which changes to nil-rate thresholds
Ofcom has proposed to change the rules so that telecoms providers will no longer be required to provide fax services under the Universal Service Obligations – and new data suggests the impact on conveyancing firms
New data released by HM Land Registry shows average house price growth flatlined between August and September of this year – though the industry is increasingly confident that any slump is more of a normalisation