The Council for Licensed Conveyancers (CLC) has launched a consultation on proposals to change how its contribution towards the Legal Ombudsman is paid, so that those firms who generate more complaints contribute more to the
Purchase mortgage searches were down 7.4% in June 2024 compared to May 2024 but were down 1.25%% compared to June 2023, according to Twenty7tec’s June 2024 mortgage market activity. Remortgage searches were down 7.27%% compared
The Bank of England recently reported a glitch with the CHAPS service which delayed house purchases and other high-value payments. They have confirmed that the third party supplier has restored service and CHAPS payments are
Hugh James has announced the arrival of Partner Alex Madden to the new role of Head of Planning and Environmental. Formerly Head of Planning and Environmental at Thrings Solicitors in Bristol, Alex has more than
Average house prices largely flat in June, down by just -0.2% on a monthly basis, according to the recent Halifax House Price Index. Annual rate of house price growth unchanged from last month at +1.6%.
New analysis has revealed that the average first-time buyer in the UK is 33 years and 8 months old when they purchase their first home. With an average mortgage term of 30 years, this means
New analysis has revealed that mortgage backed sales volumes over the last three months are still sitting some -49% below this time last year. Octane Capital analysed mortgage sales volumes to reveal just what impact
The Labour Party has just won the July 2024 General Election, marking the end of 14 years of Conservative rule. This has been met with a wave of reactions from the industry, with many viewing
The latest Homebuyer Hotspots Demand Index has revealed that buyer demand levels climbed significantly between the first and second quarters of this year, marking the largest quarter to quarter jump since interest rates started to
Housing market activity has been “broadly flat” over the last year, with the total number of transactions down by around 15% compared with 2019 levels, according to Nationwide’s House Price Index. Transactions involving a mortgage
The Society of Licensed Conveyancers (SLC) has written to the Deputy Leader of the Labour Party, Angela Rayner, about the recently enacted Leasehold & Freehold Reform Act (LFRA) and its implementation. Leasehold expert, SLC Board
The LSSA (Legal Software Suppliers Association) has announced that Bundledocs is the latest legal technology provider to join the Association. As the industry body for developers and vendors of legal systems, the LSSA maintains standards
Movemnt has announced an exclusive partnership with LMS. The partnership leverages LMS’ panel of 4,000 law firm partners and innovative technology solutions. As part of the partnership, Movemnt and LMS have worked closely with law
Equity release customers will save almost £300 million in borrowing costs over the next 20 years having used the freedom to make voluntary penalty-free loan repayments. New data from the Equity Release Council (the Council)
The Board of the Solicitors Regulation Authority (SRA) has agreed it would regulate Chartered Institute of Legal Executives (CILEX) members, if CILEX decides to redelegate this to the SRA. CILEX approached the SRA about this
Muve has been named in the 2024 edition of The Sunday Times 100, the annual ranking of Britain’s fastest-growing private companies. To qualify for The Sunday Times 100, companies must be independent, privately-owned, headquartered in
Open Property Data Association (OPDA) is celebrating its first anniversary after achieving significant milestones. Founded last June, the Open Property Data Association is on a mission to speed up the notoriously slow homebuying process by
Firms should continue to be able to operate client accounts, as they are vital for the effective delivery of many legal services, the Law Society of England and Wales said in response to the Solicitors
X-Press Legal Services is celebrating the milestone of 25 years in business. Supporting conveyancing professionals across England and Wales, the Warrington based firm commemorated its milestone during a recent annual conference held at Peckforton Castle
New data from HM Revenue & Customs has revealed the number of UK residential property transactions in May 2024 was 24% higher than the same month in 2023. The provisional non-seasonally adjusted estimate of the
The Solicitors Regulation Authority (SRA) has failed in its attempt to overturn a tribunal’s decision that cleared solicitor George Fahim Sa’id of failing to follow money laundering regulations, as reported by The Law Society Gazette.
The Board of the Solicitors Regulation Authority (SRA) will this week decide whether to proceed with proposals for the SRA to regulate authorised and non-authorised members of the Chartered Institute of Legal Executives (CILEX). Law
New analysis from Rightmove reveals the urgent need for the next government to help home-owners and landlords make their homes greener. New analysis estimates that at least 18 million homes have a rating of an
The Open Property Data Association (OPDA) has welcomed Simply Conveyancing as an associate member. OPDA, founded last June, promotes the “industry-wide” adoption of open property data and technology standards. Simply Conveyancing is joining OPDA on
Shieldpay, the payments partner for the legal sector, is working with KPMG Law UK (part of KPMG LLP) to provide payments services for its transactions. Shieldpay has been supporting KPMG Law’s corporate clients as an
New market insight has revealed that 93% of UK home sellers crave more transaction security to prevent fall-throughs, while a huge majority believe the government is putting too much focus on cost saving housing initiatives
The cost of living pressures are easing for some households due to lower inflation and strong wage growth, however for many, high house prices and mortgage rates are adding to affordability pressures on first-time buyers
The average house price across the UK rose again in the year to April – up 1.1%, according to Office for National Statistics recent House Price Index for April 2024. The average house price was
With inflation now nearly at the 2% target and after years of high interest rates, Homeowners Alliance have urged the Bank of England to “stop holding homeowners to ransom and cut interest rates now”. The
The average conveyancing fee when buying a house in 2024 is £1,567, which has risen around 18.7% from the cost of conveyancing in 2023, according to Compare My Move 2024 Cost of Moving House Index.
The Property Energy Professionals Association (PEPA) which represents the Government appointed Accreditation Schemes for Energy Assessors has criticised Which? for not engaging in respect of its work on EPCs. Following the publication of the Which?
Rishi Sunak has unveiled key pledges for landlords and first-time buyers as part of the upcoming Conservative Party manifesto. Sunak’s proposals include a 100% capital gains tax relief for landlords who sell properties to their