Industry Regulators Encourage Wider Use Of Electronic ID

Industry regulators have reminded legal practitioners of the importance of using electronic ID and verification processes in order to safely comply with governmental social distancing advice whilst in lockdown. The Council for Licensed Conveyancers (CLC)

Over the past three weeks, a third of mortgage deals have been pulled from the market as Covid-19 causes property market chaos.

Over the past three weeks, a third of mortgage deals have been pulled from the market as Covid-19 causes property market chaos. At the end of last week, governmental guidance urged buyers, sellers and stakeholders

HM Land Registry (HMLR) has issued a statement highlighting that some of their services are likely to be disrupted.

HM Land Registry (HMLR) has issued a statement highlighting that some of their services are likely to be disrupted. Find a property, register create applications and register update application services are set to experience significant

One In Seven Homeowners Using Mortgage Holiday

One in seven mortgage holders in the UK are now subject to a mortgage payment holiday. According to UK Finance, over 1.6 million mortgage payment holidays have been utilised by homeowners affected by Covid-19 saving

Housing Market Set For Short Sharp Contraction

UK housing transactions could fall short of projections by between 38 and 53 per cent in 2020, according to recent speculative data. According to economic projections, Savills has predicted a ‘short sharp shock’ in UK

Inside Conveyancing Conference And Awards Announces New Date

Due to the continued uncertainty caused by the Coronavirus situation, the Inside Conveyancing Conference and Awards has been put back until the 3rd March 2021. The Inside Conveyancing Conference and Awards, formerly known as the

Sector Endured Four Worst Performing Weekdays Last Week

The four worst performing weekdays for searches and loans documented in March took place between Tuesday and Friday last week. Friday March 27 represented the lowest value of loans documented in March, down 21.75 per

Clarity Needed On Critical Home Moves

Developers in the residential property sector are calling on the government to provide greater clarity on what is deemed a ‘critical home move’ under the new Guidance released last week. Critical Home Moves are exempt

Surveyors Demand Suspension Of Transactions

The surveying community is the latest sector urging the government to suspend housing transactions until government restrictions are lifted. Surveyors are calling on the government to provide clarity on their situation after recent grants and

Property Fall Through Rates Increase In March

In the past month property fall through rates have increased by 45 per cent. Between February 17 and March 16, the number of aborted property sales has increased from 5,114 to 8,364, according to a

The government has issued a plea for stakeholders in the home buying and selling process to do all they can to delay home moves until restrictions to reduce the spread of the coronavirus are lifted.

The government has issued a plea for stakeholders in the home buying and selling process to do all they can to delay home moves until restrictions to reduce the spread of the coronavirus are lifted.

Number Of Active Buyers Continues Falling

Search volume has now decreased by over a third within a two week period of time. The overall volume of searches on Wednesday March 25 was 24.02 per cent down on the same time last

Promoting Positive Wellbeing For The Legal Sector

Leading online news publication Today’s Conveyancer is pleased to announce the addition of LawCare to its roster of partners. LawCare is an independent charity offering emotional support, information and training to the legal community in

Two Thirds Of Construction Sector Down Tools

Almost two thirds (63 per cent) of builders feel as though the government are letting them down by failing to provide clear instructions about the sector whilst the UK is on lockdown. The majority of

Transactions Set For 60% Decline By Quarter 2

By the time the coronavirus is under control and social distancing restrictions are lifted, UK property transactions would have fallen by 60 per cent. According to the latest ‘UK Cities House Price Index’ by Zoopla,

Government Guidance Needed On Transactions During Outbreak

The conveyancing sector has urged the government to provide clarity on residential transactions over the weeks ahead. Yesterday, minister for the Cabinet Office, Michael Gove, in addition to other civil servants contacting Propertymark, had intimated

Commercial Tenants Will Not Be Evicted During Virus Outbreak

The government has put in new measure to ensure commercial tenants, unable to pay their rent because of coronavirus, will be saved from eviction. Given the government’s strict new guidance preventing many shops from trading

UK property transactions increased in February as the pre-Corona property market continued to recover from long-term Brexit uncertainty.

UK property transactions increased in February as the pre-Corona virus property market continued to recover from long-term Brexit uncertainty. HM Revenue and Customs’ UK Property Transactions Statistics for February highlight the continued UK recovery from

Mortgage Loan Values And Searches Fall By A Tenth

Mortgage loan values fell by 14 per cent yesterday when compared with the same time two weeks ago and 3.4 per cent down on last week. According to Twenty7Tec’s ‘mortgage market statistics’ for March 23rd,

Government To Suspend Home Moves

The government is set to suspend all future home moves in a bid to halt the spread of Covid-19. Yesterday morning, Michael Gove suggested that key property stakeholders could continue completing home moves and transactions

Major Home Builders Suspend Construction Projects

Despite the government insisting that construction workers could continue to work on construction sites if they are in the open air and adhere to social distancing measures, many developers and home builders have taken a

Clarity Needed On Construction Sector And Home Moves

Michael Gove suggested that those with imminent home moves will still be able to exchange despite government advice warning against social interactions and movement. The message, delivered on BBC television, came after Mr Gove had

Search Companies Complain About Water Search Response To Virus

In the light of reduced services some water companies are suspending free walk-in mapping services and charging search providers for digital alternatives. Severn Trent water have followed governmental advice and suspended their mapping terminal service

Advice For Remote Working Conveyancers

Is your law firm prepared for remote working? Bars, restaurants, clubs, gyms and social spaces have been asked to close by the government with all employees advised to work from home wherever possible. With over

Mortgage Holidays And Protection For Tenants and Landlords

In the last 48 hours, the Government announced unprecedented measures to protect homeowners, renters and landlords who are affected by the coronavirus (Covid-19) pandemic. Homes England confirmed that mortgage lenders had reached out to support

Coronavirus Will Deter Third Of Buyers And Sellers

Regulators try to offer consistent guidance to the property sector as the government try to help businesses with measures worth over £300 billion. On day three of the government’s promise to provide regular daily updates

HMRC Launch Online Reporting Service For CGT

HM Revenue and Customs (HMRC) has launched a new online service to help homeowners to report Capital Gains Tax (CGT) following the sale of their additional dwelling. Earlier this year, HMRC announced that owners disposing

Housing Stock Falls By 2% In February

Supply of new available housing stock entering the market fell by 2 per cent in February. Having recovered from Brexit and political uncertainty, the rapidly developing situation with the coronavirus outbreak is starting to deter

Despite the positive end to 2019 and the optimistic start to 2020, the construction sector output decreased in January.

Despite the positive end to 2019 and the optimistic start to 2020, the construction sector output decreased in January. According to the Office for National Statistics’ (ONS) ‘Construction output in Great Britain: January 2020’, output

£100 Million AML Levy Will Impact Property Sector

Chancellor Rishi Sunak announced a £100 million levy on companies subject to money laundering regulations, including law firms and estate agents. The levy will be used to supplement public sector funding and will equip law

Experts Comment On 2% SDLT Foreign Investor Surcharge

The Chancellor’s Spring Budget announced an additional 2 per cent surcharge on stamp duty land tax (SDLT) for foreign investors from 2021. Rishi Sunak pledged the additional income generated from the tax to support preventative

Coronavirus Will Deter Third Of Buyers And Sellers

Reports suggest that the epicentre of the coronavirus in China has now passed and the worst of the outbreak is behind them. In the month between January 22nd and February 22nd, the number of total

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