Conveyancing Regulator Announces 30% Regulatory Fees Reduction

The Council for Licensed Conveyancers (CLC) is set to reduce its regulatory fees and practice fee rates by 30%. The consultation on the 2020 practice fee rates in May indicated that fees could be reduced

New Home Registrations Fall 9% Annually

New homes registered to be built in the UK during July have fallen by 9% when compared with the figures from 2018. In July, 14,262 new homes were registered. However, 15,719 homes were registered during

Electronic Wills Considered Legally In Most Cases

Electronic signatures are legal binding, including in situations where there is a statutory requirement for a signature. According to the Law Commission, electronic signatures can be used in most cases, including where there is a

Aspiring First Time Buyers Feeling The Pinch

56% of properties in the UK are now considered as affordable to first-time buyers (FTB) who are looking to acquire their first property. According to Post Office Money, the combination of stagnant house prices and

Labour Plan To Trigger Compulsory Purchases Through Amended Right To Buy

Whilst the Government’s silence in regards to property sector changes has created a lethargic property market, Labour’s plans to force landlords to sell their homes to tenants in an updated Right to Buy scheme is

No-Deal Scenario Could Force House Prices To Fall 7%

Leaving the EU without a viable and agreed Brexit deal at the end of October could cause house prices to fall by more than 5%. A no-deal scenario could trigger prices to decrease between 5.4%

Expert Comments On Contracting PII Market And Law Firm Implications

The second largest global insurance broker, Aon, announced their partial withdrawal from the Professional Indemnity Insurance (PII) market this summer leading many to speculate on the future of the insurance market for solicitors. Aon’s Maven

Public Call For Downsizing Stamp Duty Exemptions

Swathes of the population are calling for the Government to offer more incentives which would entice older homeowners to move and ultimately free up vast quantities of family homes. 44% of respondents believe that more

The Bank of Mum and Dad (BoMaD) are now the 11th largest mortgage lender in the UK, eclipsing the Help to Buy schemes in helping younger buyers gain a foothold on the property ladder.

The Bank of Mum and Dad (BoMaD) are now the 11th largest mortgage lender in the UK, eclipsing the Help to Buy schemes in helping younger buyers gain a foothold on the property ladder. In

Government Pledge To Help Lower Income Families Purchase Property

The Housing Secretary has announced plans to stimulate home ownership amongst lower income households through a number of reformed measures. The Government has pledged to reform the shared ownership model, allowing for buyers to step

Persimmon Settle Cardiff Development Mis-Selling Accusations

A major UK house builder was put under the microscope this weekend, accused of mis-selling leasehold property to their customers. Persimmon reached an out of court settlement with their customers in a Cardiff development after

Scottish Property Transactions Flourish Whilst UK Flounders

Whilst many areas of the UK property market flatten, Scotland’s market is flourishing with transactions reaching an 11-year high. Despite the impending Brexit deadline of 31 October, research, conducted by Aberdein Considine’s quarterly property monitor,

Government Invest £600 Million In New Build Infrastructure Projects

£600 million has been promised to support the building of 50,000 new homes and the infrastructure to support them by the Chancellor, Sajid Javid. The money will help fund five new projects in London, Bedfordshire

Inbound Enquiries To Skyrocket Tomorrow

Conveyancing departments need to prepare for their most chaotic week with tomorrow set to become the busiest communication day for inbound enquiries to law firms. Call volumes will increase by 10% on the day following

Conveyancers Warned Of Impersonation Fraud Invading The Sector

Multiple legal regulators have warned that impersonation fraud and spoofing using highly detailed and sophisticated social engineering techniques is rife in the legal sector at the moment. In the past week both the Council for

Exodus Continues As Another PI Insurer Escapes Hardening Market

Law firms and abandoned solicitors have been left reeling after their Personal Indemnity Insurance (PII) provider made the decision to leave the PII sector six weeks before many pending policy renewals trigger. Aon notified their

2 in 5 Brits Are Building Extensions Than Moving House

Retail to residential conversions in England have reduced by 17% in the past year. According to newly obtained figures by Bootle Hatfield, the number of retail and office units/properties approved for residential conversion has fallen

Industry Experts Discuss Technology, HMLR Progress And Subsidence

The future of conveyancing looks bright with a host of digital innovations leading to greater collaboration and holistic shared working, but the present is fraught with fragmentation and ill-considered technological innovation according to experts. The

HM Land Registry

HM Land Registry (HMLR) has acknowledged serious problems leading to backlogs in service by employing 1,000 new staff over the past eighteen months. Following the financial crisis and subsequent housing crash in 2008, HMLR inevitably

An owner of a property company has been banned for operating a business for five years after encouraging his company to make over 110,000 illegal cold calls. Jonathan De Sousa set up Xternal Property Renovations

Disillusioned Buyers Increasingly Consider Unconventional Property

In a potential cultural shift, over half of homeowners are tempted to secure permanent accommodation in unconventional properties. A possible reflection of the intense difficulties associated with the modern-day rat race, 61% of people aged

Older Homeowners Confidence In Property Market Deteriorates

Sentiment in the housing market and wider economy continued to deteriorate with older home owners. According to new research, conducted by Just Group, almost half (46%) of people over 50-years-old are confident that the property

August's Agreed Sales Soar 6% Year On Year

The usual summer slowdown could be turning into a bustling marketplace as buyers look to beat the Brexit deadline. According to data from Rightmove, the number of agreed sales is 6.1% higher than August 2018,

Sajid Javid Rejects Stamp Duty Liability Reversal Speculation

Significant tax reform is on the horizon but will not involve reversing the liability of stamp duty land tax, according to the Chancellor, Sajid Javid. An article in Saturday’s The Times speculated that Mr Javid

UK Population Concerned With Declining Property Quality

Concerns over the UK’s housing quality increased substantially over the past five years. According to the HomeOwners Alliance’s ‘The Home Owner’s Survey 7th Annual Report’, 63% of UK adults believe housing quality is declining and

Second UWO Triggered In July To Prevent Organised Crime

The second unexplained wealth order (UWO) has been issued in July to prevent the proliferation of criminals using property to secrete and launder their ill gotten gains. Since the National Crime Agency (NCA) were given

Growth And Confidence In Property Market Reduces In July

Despite the more positive outlook posted in June, inroads were eroded slightly in July concerning positive near term growth in the property market. Although buyer demand remained in positive territory in July with a net

unemployed-woman-sits-alone-heartbroken

Women are one of the main victims of the housing crisis as the gender pay gap and soaring prices have had considerable effects on housing affordability. Women on a median UK salary fall over 50%

Local Authority Suspends Searches For Entire Summer Period

Surrey Heath Council has announced that the summer postponement of all local authority searches has now been downgraded to a delay to service. The Council claimed that the upgrades to their database software, which provides

Majority Of Over 55s Will Struggle To Acquire Retirement Interest-Only Mortgages

Interest-only mortgage borrowers looking to take out a retirement interest-only (RIO) loan are struggling to acquire this preferred loan choice because they have not paid enough into their pension to help fund the repayments in

Local Authority Suspends Searches For Entire Summer Period

The UK conveyancing sector is contracting at a faster pace than the previous two years of decline. According to the ‘UK Conveyancing Market 2019: Market Trends‘ Report, UK residential transactions decreased by 6.6% in the

Disorderly Brexit Will Cost Legal Sector £3.5 Billion

The construction industry continued contracting for the fifth month out of the last six as political uncertainty and weakened economy erode investor confidence. According to data from the IHT Markit/CIPS UK Construction index, July’s construction

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