SRA Expectations In Regards To Price Transparency

The day has finally arrived. Price Transparency is now a regulatory reality across the majority of the legal sector. Whilst some remain confused and anxious about the changes, the SRA hope that they will mean

Homes England Building Figures Increase For 2018

The government have been frequently criticised for failing to deliver anywhere close to their ambitions of building 300,000 new homes per year. However, the most recent figures, published by Homes England, suggests that the number

400,000 Buyers Dependent on Help To Buy

New figures have highlighted that the Help to Buy scheme has now helped over 458,000 buyers gain a foothold onto the property ladder since it was launched in 2013. Of that number, 402,000 were first

SLC Chairperson Valerie Holmes Reflects On Conveyancing Sector

Working in Property Law for over 30 years, Valerie Holmes has recently been announced as new Chairperson of the Society of Licensed Conveyancers. Despite the chaotic cacophony of regulatory changes taking place this month, Valerie

Later Life Lending And Capacity Compliance Considerations

The importance and increasing dependence on older family members has been well documented in recent years. In fact, according to research from Legal & General, 27% of UK buyers were reliant on friends and family

Oxford University Research AI Benefits In Legal Sector

The University of Oxford has been given £1.2million for a research project into artificial intelligence (AI) and the benefits it could bring to the legal sector. Despite initial scepticism regarding technology in law and the

Price Transparency And The Consumer Perspective

This time next week, the UK would have lived through twenty-four hours of price transparency in the legal sector. The numerous commentators on this issue have speculated that firms will be divided between those that

The Law Society Make Changes To Conveyancing Quality Scheme

The recognised quality standard for residential conveyancing practices is being amended and changed by the Law Society. Following feedback from conveyancers and discussions with lenders, the Law Society have looked to continually improve best practice,

HIPs Could Be Returning To The Home Moving Process

This weekend Teal Legal is introducing a ‘Home Owner’s Passport’ in a move which it says will speed up conveyancing. The online passport has been developed in collaboration with Keele University. The company says it

https://todaysconveyancer.co.uk/main-news/october-mortgage-approvals-enjoy-marginal-increase/

It has been well reported that the housing market has hit a significant slump and even failed to enjoy the usual pre-Christmas sales boom. The latest NAEA results for October have clarified the housing market’s

The Bank of England released their apocalyptic review of a no deal Brexit, claiming that residential property prices will fall by an incredible 30%.

The Bank of England released their apocalyptic review of a no deal Brexit, claiming that residential property prices will fall by 30%. Because Carney was quick to point out this was not a formal review,

many self-employed people looking for a mortgage feel as though they are unfairly discriminated against.

Whilst the seasonally adjusted figures from UK Finance indicate that mortgages approved for the purchase of a house rose to 39,697 In October, many self-employed people looking for a mortgage feel as though they are

Unreasonable Variable Equity Release Exit Fees Sting Consumers

Equity release loans have been an increasingly popular funding method for those in later life. Lucky home owners that have lived in their property for a significant amount of time have enjoyed huge increases in

The Changing Role of Automation in the Conveyancing Sector

The latest advances in conveyancing technology will give early adopters the edge. Talk to anyone who has moved house recently and the chances are they will have something to say about the length of time

It took the lawyers an average of 92 minutes to complete the task. The longest time taken by a human lawyer was 156 minutes, and the shortest time was 51 minutes. However, the AI managed the work in just 26 seconds.

As technology advances, the media is full of stories about how robotics and artificial intelligence will soon replace humans in many professions. Testing this theory, a recent study by LawGeex set a machine-learning AI against

Price Transparency Update: One Week To Compliance Deadline

From 6 December 2018, new transparency rules set out by the Solicitors Regulation Authority (SRA) mean that firms must display more detailed price and service information if they work in specific areas. To help legal

October Mortgage Approvals Enjoy Marginal Increase

The seasonally adjusted figures from UK Finance indicate that mortgages approved for the purchase of a house rose to 39,697. This has increased from the five-month low of 38,172 in September’s figures. Whilst the figures

British Home Buyers Spend £8,113 In Unexpected Fees

The SRA and CLC have staunchly campaigned that price transparency will enlighten an opaque industry where many clients feel as though they are confronted with hidden fees they were not expecting. A recent nationally representative

recently updated evidence by Oxford Economics has found that the total cost of replacing one legal professional now stands at £39,887

It has been well reported that the legal sector is facing a recruitment crisis. When 84% of the UK’s top 100 law firms are worried about a shortage of talent, the importance of retaining the

If the legal sector is going to continue growing, law firms should review their health and well-being policies to retain skilled staff and create a productive and hospitable environment.

As 2018 comes to an end, there have been a number of cases that suggest the legal service sector is responsible for creating a stressful working environment. Whilst 89% of UK law firms have enjoyed

New Specialist Property Court Could Improve Rental Market

The government have been locked in a consultation period that is seeing them transform the way we use the court and tribunal system in the future. In a recent statement from Housing Secretary, James Brokenshire,

Following the recent mis-selling leasehold scandal, leading industry body The Conveyancing Association has pressed the government and managing agents to provide conveyancers with up to date and relevant information.

Following the recent mis-selling leasehold scandal, leading industry body The Conveyancing Association has pressed the government and managing agents to provide conveyancers with up to date and relevant information. Conveyancers are adamant that under the

Buy-To-Let Tax Increases Should Not Deter Potential Investors

A myriad of tax reforms in 2018 have hit buy-to-let investors more so than any other property owner. Many speculated that continued tax pressures and Brexit uncertainty destabilising the market could deter a lot of

Home Owners Offered More Support Than Social And Private Tenants

Home owners receive significantly more financial support from the government compared with private landlords and renters, a new report has found. The ‘Dreams and Reality – Government Finance, Taxation and the Private Housing Market’ report,

Many Postpone Retirement To Afford Mortgage Repayments

Although there are many schemes that help people claim a foothold onto the hugely expensive property ladder, soaring property prices rising faster than the average wage creates an uncomfortable situation for many. Whilst some can

Brexiteer Areas Enjoy The Highest Price Increases Since Referendum

As Downing Street continues to entertain the UK with its ‘Christmas Brexit Cabinet Pantomime,’ the property market has shown obvious signs of a market slowdown. Recent research by Emoov has looked at the current market

Vulnerable Tenant Wins Case Against Landlord

A recent Civil Court ruling could pave the way for increased rights for private tenants. Following a number of inappropriate messages and threats by Mohammed Azeem, the disgruntled son of a landlord, saw him ordered

Help To Buy Saves FTBs Two Years In Private Rent

New research has found that Millennials, looking to grasp a foothold on the property ladder, are now able to do so two years earlier because of the additional help from Help to Buy schemes; saving

Britain Experiences First National Year-On-Year Property Price Fall Since 2012

Property portal Rightmove have reported that poor transaction figures and declining house prices led to the first national year-on-year price fall since November 2011. Newly marketed property is now, on average, £607 or 0.2% cheaper

Treasury To Help Mortgage Prisoners

Nicky Morgan, Secretary for the Treasury, has claimed that parliament should be doing more to help people that are shackled to their poor mortgage deals. Up to 150,000 home owners are stranded and fettered to

BSA Report Indicates 100% Mortgages Are Desperately Needed

Throughout the past three years the bank of mum and dad have become a legitimate and authoritative presence in the UK lender market. However, with the Building Societies Association (BSA) highlighting that 87% of its

The Freehold Properties (Management Charges and Shared Facilities) Bill will look to ensure that the charges are proportional and fair in the future.

A private members bill which aims to ban unacceptable ‘fleecehold’ charges on private estates has been launched in parliament. Currently, charges can be applied to freehold properties on estates where the land is not controlled

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