seasonally adjusted UK property transactions for residential and non-residential property in September 2018 of 98,400 completed transactions is down on August’s figures by 0.5%.

HM Revenue and Customs have released their UK Property Transactions Count for September. Continuing the downward trend in sales, the results hint at an upward trajectory of slight pessimism in the market. The seasonally adjusted

Over 55s Anxious About Younger Beneficiaries Financial Naivety

Much is said about the plight of generation rent and the difficult situation they are in when potential inheritance is their only realistic way of affording a property. However, a recent report by Sanlam UK

Landlords Resolute Despite Tenants Fees Bill

Following the recent announcement that half of letting agencies in England and Wales will consider leaving the market once the Tenants Fees Bill becomes legal, landlords remain a lot more resolute. A recent survey of

Automated Algorithms Could Revolutionise The Remortgaging Sector

Since the slightly annoying, yet somehow loveable, Meerkat came into our households with a message for cheaper car insurance, we have expected transparent prices and cheap deals. However, the housing market has been a step

Letting Agents' Anxious About Tenants Fees Bill

Renting a property can be a very stressful experience. Living your life at the mercy of someone else and possessing very little control is troubling and exhausting. Currently, over 5 million households, or 21% of

Average house prices in the UK have increased by 3.2% in the year to August; however, this figure is down from the 3.4% growth to July.

Following huge growth in house prices over the past decade, the UK House Price Index for August 2018, has highlighted a slowdown in the market for the last two years. Many are speculating that stagnant

Leaseholders Seek Compensation From Conveyancers

Following the recent announcement from James Brokenshire, Secretary for Housing, Communities and Local Government, of the Government’s plans to cap ground rent at £10 per year, a law firm has also announced that they will

to help protect its £4 trillion worth of assets in land and property.

In a time when more businesses are becoming aware of the importance of cyber security and protection from fraudulent threats, HM Land Registry have employed a Software as a Service (SaaS) specialist, Division Time, in

Based in the Truman Brewery building in the heart of London, LegalGeek was poised and ready to open its third annual conference. Having grown exponentially throughout its short life, the quirky, industrial venue reflected the inventive and original startups that were housed within. The cavernous intertwined tombs revealed a vibrant, chaotic cacophony of enthusiastic sounds. As the maze of rooms filled up, an eclectic mix of LawTech startups demonstrated their waresto the 2,000 strong army of technology embracing legal professionals. Following Jimmy Vestbirk’s, Founder of Legal Geek, introduction to the event, he used the help of Siri to announce the morning’s speakers. The Rt Hon Lord Richard Keen, Scottish lawyer and Conservative Party politician, highlighted the wat LawTech has the potential to provide affordable justice for all by simplifying the processes and bringing down costs. His final conclusions that although technology has this capacity, the public may be concerned by the perception that machine learning and algorithms could be used to judge and sentence people in the future. His plea to the LegalTech creators was a need to legitimize smart systems to avoid public objections. Technology must appeal to and reassure the public that its use will not result in an Orwellian dystopia. Christina Blacklaws, President of The Law Society, discussed technology and its applications to the law. Whilst reminiscing about ‘Tomorrow’s World’ inventions, like robot snooker players, paper pants and bike boats failed to mainstream, she insisted that LawTech should. However, only if it benefits the consumer. Her following remarks regarding the importance of all stakeholders collaborating was also well received. The Ministry of Justice’s Amanda Smith spoke on the importance of making technology accessible and understood by all. Insisting that that data literacy will be vital in the future and technology should be more inclusive. Despite the torrent of rain, the afternoon sessions enlightened the LegalGeeks through the myriad of startups demonstrating how their products could improve efficiency, enhance business agility and improve firm security. Jimmy Vestbirk, Founder of LegalGeek, took the time out of his day to inform Today’s readers: The day is going well, so far! “It’s important to bring together the innovators of the legal profession because we bring together people that can be siloed in their law firms. These are the opportunities to reenergize, go back to their practices with a mindset of trying to bring about the changes that are needed. “The technology underpins it. People talk about AI, but actually, this is about a cultural change and technology being adopted, to bring about positive change, whether that is in conveyancing or other areas of law.” It took Amanda Goodman, writer of Robots in Law, to remind us of Mike Tyson’s words of wisdom that ‘everyone has a plan, until you are punched in the face,’ to remind us that innovation is difficult to plan for as you don’t know if it will catch on. Based on the atmosphere throughout the day, it is clear that many firms are willing to take that punch in the face by making the proverbial leap of faith into a legal profession adopting technology.

Based in the Truman Brewery building, in the heart of London, LegalGeek was poised and ready to open its third annual conference. Having grown exponentially throughout its short life, the quirky, industrial venue reflected the

Warwick Council Pleased With HMLR LLC Digital Migration

In July, Warwick District Council’s data was the first to migrate onto a digital platform. The process made searches available via the new digital Local Land Charges (LLC). Under the HM Land Registry’s (HMLR)new digital

115,000 Housing Delays Per Year Cost £15 Million

For many, following a long and exhausting buying process, moving into your house is a landmark occasion indicating the next chapter in your life. However, for too many of us, the day itself turns into

Property Hijacker Stopped And Jailed

A dishonest daughter turned ‘property hijacker’ has been jailed for three years following the attempted sale of her father’s home whilst he was in a care home and his wife was abroad caring for a

Public Apathetic To Importance Of Remortgaging

A new report has highlighted consumer confusion or apathy regarding remortgaging their property in order to find a cheaper deal. Which? Mortgage Advisers’ report has found that those on a Standard Variable Rate (SVR) mortgage

Family Lenders Become Financially Savvy

In 2018 more people are reliant on close family and friends to help fund their property purchases. In fact 27%, up from 25% in 2017, of UK purchases were funded by friends and family with

IMLA Concerned Over Potential Help To Buy Changes

The Intermediary Mortgage Lenders Association (IMLA) have warned that withdrawing the Help to Buy scheme could destabilise the first time buyer lending levels that have recovered to pre-financial crisis levels. IMLA, that represents 43 banks,

New Housing Working Group Announced

As the Government consider ways of excavating the country out of the impending housing crisis, they have announced that a new working group has been created to help raise standards across the property sector. Heather

The government are set cap ground rent at £10 a year in the hope that leasehold property will be deemed as uneconomical; meaning the majority of homes in the future will be sold as freeholds.

Communities Secretary, James Brockenshire, is set to announce plans to significantly reduce and then cap ground rents on all new build properties. According to a government statement released on Sunday, the Government will begin a

SRA Continues To Ensure Solicitor Honesty

The SRA are attempting to ensure the honesty and integrity of law firms and their representatives in order to provide a more transparent system for consumers. In the space of two days, the SRA have

Lords Debate Tenants Fees Bill

The Tenants Fees Bill has taken a step closer to becoming law this week following the second reading in the House of Lords. Having already completed the process, including committee and report stage amendments, in

RICS Reports Weakening Housing Market

The September report by the Royal Institute of Chartered Surveyors (RICS) has indicated that the housing market is struggling in many key areas. When looking at buyer demand, headline enquiries declined for the second consecutive

National Construction Output Increases

The Office of National Statistics (ONS) has revealed that construction has increased by 1.5% in the last three months. Overall, there has been a 0.3% gain in national construction output compared with last year and

Help To Buy Could Be The Next PPI Scandal

A new report carried out by home move company Reallymoving.com has speculated that the Help to Buy scheme could become a similar scandal to PPI. The claim follows the report’s key findings that those using

AI Auctioneer Conducts World's First House Sale

The property market took another step into modernity this week with the first property sale conducted by Artificial Intelligence. Artificial Intelligence auctioneering company clicktopurchase® simulates the traditional property auction but uses an online medium to

Proposals Could Help Generation Rent

Following the Conservative party conference, rumours have been circulating regarding the government’s plans to help ease the housing crisis. As the Autumn Budget approaches, fresh concerns of how the government could tackle the increasing reliance

Cheapest Homes Too Expensive For Most Young People

A new report from the Institute of Fiscal Studies (IFS) has found that the majority of the cheapest homes are too expensive for 40% of young adults in the UK. Attributed to a meteoric rise

Legal Services Consumer Panel Castigate ICAEW's Voluntary Compliance Decision

Following The Institute of Chartered Accountants in England and Wales (ICAEW) announcement that they will not enforce price transparency rules onto its firms that provide probate services, The Legal Services Consumer Panel have released a

SRA Release Waiver Register Information

The Solicitors Regulation Authority (SRA) have released its register of waivers which allows certain exemptions for specific rules that do not apply to individual firms. The ‘safe space’ and register of waivers system was launched

HMLR Expand Digitisation And Blockchain Property Sales Enter Europe

The HM Land Registry (HMLR) have continued their relentless task of transferring all local authority data onto a digital system. The City of London Corporation is now live, and all property requests will go through

Latest Index Indicates Stable Housing Market

The housing index, measured by the Halifax, has found that prices are 2.5% higher than a year earlier, a 1.8% increase in the third quarter compared to quarter two results. Despite the average house price

Government Insist On Estate Agent Referral Fee Transparency

New research from the Council for Licensed Conveyancers (CLC), carried out by YouGov, has found that 59% of the 500 respondents who accepted estate agent advice and used a recommended conveyancer were unaware that a

Unexplained Wealth Order Issued

The wife of a millionaire bank owner, jailed for fraud, has been subject to the first Unexplained Wealth Order (UWO) in the UK. UWOs were introduced to UK law in 2017 following increasing anxieties that

Government Invest £10m in AI Development

The Department for Business, Energy and Industrial Strategy’s regulators pioneer fund have released £10 million to fifteen regulators tasked with realising the vision of solidifying the UK as a world leader in regulatory innovation within

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