Today's Conveyancer welcomes the new Conveyancing Association to the market
Today’s Conveyancer is pleased to hear that the new Conveyancing Association has issued a strong message to the rest of the industry in one of its first press releases and urges good quality conveyancing firms to contact the Association to join and support the movement. In what can only be described as a wakeup call […]
BBA reports another drop in mortgage lending
The British Banker’s Association (BBA) reported yesterday that mortgage lending has fallen for the third month to 31.767 mortgages approved in August, down from 34,219 in July. Gross mortgage lending of £8.1bn in August was 7.6% lower than a year ago. However, high street banks continued to see fairly strong mortgage repayments, so that net […]
CML warns of drop in house prices if FSA plans go ahead
The Council of Mortgage Lenders (CML) have worried conveyancers with its warning that proposals by the Financial Services Authority (FSA), to encourage responsible lending, will cause house price falls. The financial watchdog is currently consulting on ways to stop "excessive" mortgage lending and has already proposed affordability tests for all mortgages to ensure that lenders […]
Housing Minister lowers majority requirement for community right to build
Grant Shapps, the coalition’s Housing Minister, has dropped the threshold of agreement needed for his “Community Right to Build” scheme from 80-90% to 75%. The scheme is part of David Cameron’s wider “Big Society” policy of placing responsibility for community decisions in the hands of local people. In measures announced in July of this year, […]
Richard Mathias calls for support to launch LFS Property Chain Manager.
Richard Mathias the Sales Director of Law Firm Services has launched his new Property Chain Manager product today at his Law Firm Services Conference. Saying that he recognises to make it work he will need volunteers to come forward to help demonstrate to the market the benefit. In a passionate presentation Richard explained that following […]
CML reports fall in August lending
August saw gross mortgage lending fall by 14 per cent, new data shows. The latest figures from the Council of Mortgage Lenders show that gross mortgage lending was an estimated £11.4billion in August, compared to £13.3billion in July. August lending was down six per cent year-on-year, from £12.1billion in August 2009. The figures for August […]
‘Mortgage Flow’ Reports 396% increase in product availability
Conveyancers acting for landlords will welcome the news that Mortgages for Business reports a 396% increase in the number of buy-to-let mortgages available on its buy-to-let mortgage-sourcing tool, Mortgage Flow. David Whittaker, managing director said; “We now have more than 200 products on the system, something we haven’t seen for three years. The contrast with […]
Double dip or summer decline? Rightmove House Price Index
Rightmove has this morning issued its September House Price Index. Rightmove’s House Price Index is compiled from the asking prices of properties coming onto the market via the estate agency branches listing on Rightmove.co.uk, representing around 90% of properties on the market. Rather than being a survey of opinions as with some other indices, it […]
New Head of Legals at Fridays Property Lawyers
Tom Horrocks has moved from the Ashley King Simply Property Lawyers business to Fridays Property Lawyers as Head of Legal. Tom is reported as saying, “I was aware of Fridays as one of the fastest growing Licensed Conveyancers in the UK through my work at the CLC. I am joining them as Head of Legal […]
Reminder of requirement to change your paperwork for new Legal Services Ombudsman
Both the SRA and the CLC have published reminders to their respective lawyers that the Legal Services Ombudsman will take over the role of accepting service complaints from the 6th October 2010. Conveyancers need to check the amended rules and guidance to ensure that they know the regulatory obligations they face. The SRA has amended […]
Landmark to provide anti-money laundering services to Co-op Legal Services
Landmark Information Group today announced a deal with The Co-operative Legal Services (CLS) to use its Anti-Money Laundering (AML) and Financial Asset Search (FAS). James Sherwood-Rogers, Managing Director of Landmark Legal & Financial, said: “CLS provides a comprehensive suite of consumer legal services and we are delighted they have selected Landmark’s Anti-Money Laundering tool and […]
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 […]
RBS launches a £4.7Bn securitisation
Royal Bank of Scotland is launching a £4.7bn issue of securities backed by its mortgages in its first securitisation deal of this type since the financial crisis began. RBS said it planned the mortgage-backed bond issue as part of a bid to "diversify its funding sources". The move may also suggest that there is finally […]
The RICS August Housing Market Survey
The RICS August Housing Market Survey has been released, confirming reports of a wide disparity between the health of the northern/southern housing markets. In broad terms, a further increase in housing supply has pushed the net price balance of property deeper into negative territory. Transaction activity remains steady albeit at relatively low levels and the […]
What should solicitors do if the SRA has issues with their firm?
Brian Rogers, a non-lawyer partner at Lewis Hymanson Small, who specialises in regulatory and compliance issues, discusses the best course of action for firms contacted by the SRA with Today’s Conveyancer. Over the past few years any contact from the Solicitors Regulation Authority (SRA) has given firms cause to panic, mainly due to the perception […]
Working Committee reports on the provision of condition information in the housebuying process
This week a body set up by the previous government delivered its findings on the role of condition information in the home buying and selling process, and offered ideas for the provision of new products onto the housing market, designed to deliver this important information to buyers. Its finding are interesting but it is not […]
Ntegrity update solicitors on the PII renewal season.
Ntegrity the professional insurance broker firms have issued an update on the solicitors’ professional indemnity market and allowed us to reproduce it. We think you might find it interesting 2010 SOLICITORS’ PROFESSIONAL INDEMNITY UPDATE 13 SEPTEMBER 2010 WHAT’S HAPPENING SO FAR? It is still early in the campaign but based on our experience and feedback […]
CML report subdued mortgage market for July.
The CML have reported the July lending figures. Volumes of house purchase loans were up 7% on June at 56,000 with remortgage volumes unchanged at 28,000 transactions. First time buyer loans declined by 2% from June to 19,400 loans in July. Conveyancers generally seem to be reporting that a lot has happened since July and […]
Latest market report shows steep regional variations in housing recovery.
LSL/Academetrics last week published comments on the market. Based on the last three months, all regions in England & Wales are currently experiencing annual house price growth. However, the pattern remains one in which London and the South contrast strongly with other English regions and Wales. Last month, prices in Greater London dropped growth in […]
CLC remind conveyancers of the ongoing risk of fraud.
The Council for Licensed Conveyancers have reminded conveyancers of the increasing risk from fraud. Their latest advice is published below and should be read and considered by all conveyancers. The Continuing Fight against Fraud August 6 2010 Recent meetings attended by the CLC confirm that all legal professionals need to be ever vigilant against criminal […]
