Consumer confidence remains subdued in April
Whilst recent figures showing a return to growth in Q1 2011 helped to allay fears of a double dip recession consumer confidence is still hovering dangerously close to the record low that we saw in February. The Index is currently 43, 32 points lower than at the same point last year and 37 points below […]
Consumers want “easy to understand charges”
Results from a recently published consumer research project carried out by GfK NOP Social Research, aimed at gauging how aware consumers are about the profession is regulated, are said to be assisting the SRA in bringing about major transformations to the regulations. Top of consumer’s wish list was an easy to understand fee scale while […]
New measures set to enhance consumer protection in mortgage market
The Financial Secretary to the Treasury has recently announced a package of measures intended to enhance consumer protection in the mortgage market. The new measures will: – Transfer the regulation of new and existing second charge residential mortgages from the Office of Fair Trading (OFT) to the Financial Services Authority (FSA), to ensure consistent standards […]
Law Society plan consumer drive for CQS
The Law Society has issued a big call to action to conveyancing solicitors. If your application for the CQS is not received by the 28 February 2011 you’ll miss out on your chance to benefit from the PR they plan. The consumer-facing public relations and advertising campaign is due in the spring. The Law Society […]
Weak mortgage data fuel fears of consumer spending collapse
Fears grow of a further collapse in consumer spending, as new figures on mortgages and personal lending are released by the Bank of England. Mortgage approvals slumped to a six-month low in August, leading some commentators to anticipate the possibility of a “double dip” in house prices. Any fall in prices is bound to have […]
BSA Property Tracker survey shows low consumer confidence.
The BSA’s latest, June 2010, quarterly Property Tracker survey shows that just 45% of consumers surveyed think that now is a good time to buy property. This compares with a figure of 49% of those surveyed and asked the same question in March 2010. Over half of respondents said lack of job security and a […]
Zoopla says high levels of consumer confidence in the market may be challenged by lack of lending – 7th July 2010
Zoopla.co.uk the property portal website was founded with the mission to provide the most useful online property experience by: – displaying property listings along with value and price trend information – providing rich property data and local market information in one place – […]
British Bankers Association May mortgage approval figures show little consumer appetite for mortgages – 23rd June 2010
The British Bankers Association which represents the main high street banking groups which account for 2/3 of all UK mortgage lending outstanding have reported their monthly mortgage approvals figures. The banks included in the survey are Santander UK, Barclays, Bradford and Bingley lending, HSBC Bank, Lloyds Banking Group, Northern Rock and the Royal Bank of […]
Legal Services Consumer Panel calls for Referral Fees to be Revealed and Regulated – 26th May 2010
The Legal Services Consumer Panel has produced a report this morning calling for key changes to referral payment rules. Focusing on conveyancing and personal injury the report has found that nearly a quarter of consumers are referred to their lawyer but only 20% of solicitor firms in England and Wales having referral arrangements in place. […]
LSB Report – Referral Fees Save Money for Consumers – 17th May 2010
The Legal Services Board has produced its long awaited report into the impact of referral fees on the market for legal services with what some may see as surprising conclusions. In a detailed report it concludes that there is no evidence that referral fees increase the price of conveyancing for consumers and do not reduce […]
New public interest ombudsman decisions reveal ‘serious failings’
The Legal Ombudsman (LeO) has published its latest raft of public interest decisions, revealing “serious failings in the delivery of legal services”. The six new decisions reveal that failures to provide clear advice, carry out essential checks and manage cases effectively have led to tangible and, in some instances, irreversible consequences for the individuals involved. […]
Fall-throughs costing home movers as much as £2bn, OPDA says
Failed house moves could be costing the economy almost £2 billion every year, according to new research published by the Open Property Data Association (OPDA), with many collapses occurring after the offer has been accepted. According to OPDA’s research, 58% of home moves fall through after offer acceptance. Santander’s Fixing the Broken Chain calculated an […]
Over 1,000 chartered legal executives secure standalone litigation practice rights in the wake of Mazur
Over 1,000 CILEX lawyers have successfully obtained litigation practice rights, enabling them to carry out litigation without the need for supervision, in the wake of the Mazur judgment. CILEx Regulation (CRL), which oversees the education, qualification and practice standards of chartered legal executives, said 1094 professionals had obtained practice rights authorisations via the University of […]
Consultation on mansion tax launched as government outlines plans to raise £430m annually
The government has launched a consultation on the design and delivery of the High Value Council Tax Surcharge (HVCTS), announced in the 2025 autumn budget by Chancellor Rachel Reeves. In its ministerial foreword, the consultation identifies the “unjust” nature of council tax, where a “band D property in Darlington or Blackpool, today worth around £400,000, […]
Signs of traditional property market spring bounce despite geopolitical upheaval as demand indicators increase
There are signs of the traditional property market spring bounce, according to the estate agency membership and training body Propertymark. The organisation’s latest Housing Insight Report suggests an increase in the number of viewings and listings, with resilience in sales meaning there are “encouraging signs across the housing market.” Propertymark members reported both supply and […]
CFIT unveils Open Property Roadmap to ‘modernise UK home buying’
The Centre for Finance, Innovation and Technology has published a roadmap for open property which it says sets out “a clear and credible pathway to transform the UK’s home buying process”. The Open Property Roadmap was commissioned by the Department for Business and Trade (DBT) to enable the digitalisation of the home buying and selling […]
Completions static but pipeline of new homes likely to contract as a result of falling planning permissions
“Fragile consumer confidence, affordability challenges and global economic uncertainty” are impacting on builders’ decisions to invest in new housing, according to the latest figures on new builds from the National House Building Council (NHBC). Despite government targets to build 1.5 million new homes in this parliament, the NHBC says the figures in its Q1 new […]
Leasehold complications lengthening transaction times, with conveyancing blamed for delays
Average transaction times have extended by four weeks since 2019, according to statistics published by Connells Group this week. Leasehold transactions are driving much of the increase in average timescales, with a typical leasehold transaction taking 155 days to reach exchange in April – 58 days longer than a freehold property. The estate agency group […]
Firm-wide CPD and peer-assessed training part of new CLC ongoing competence requirements
The Council for Licensed Conveyancers (CLC) is introducing new requirements for individuals and firms to undertake and report on ongoing competence, as part of a new Ongoing Competence Code. The code, effective from 1st November, includes the assessment of training by senior colleagues. Individuals will be required to complete and report on a minimum of […]
Focus on quality, supervision and accountability for successful reform, conveyancing pressure group says
The Conveyancing Task Force, a group of practising conveyancers formed in the wake of the government’s home buying and selling reform consultation, has issued a briefing note to MPs warning that the core issues of the transaction process are being overlooked. The 23-strong group, which includes small law firms and a PLC alongside individual conveyancers […]