Barclays takes action over alleged mortgage fraud
Barclays, together with its international private banking arm are reportedly seeking £12 million in damages from mortgage broker Savills Private Finance (SPF), chartered surveyors Stocker and Roberts Partnership and law firm O’Sullivan Law Solicitors in relation to a number of mortgages which were sold between 2006 and 2007. A hearing was reportedly held on the […]
Selling a Leasehold property – what should you be aware of?
As we all know purchasing a Leasehold property is not always as straightforward as purchasing a Freehold property. Susan Robinson of Optima Legal has written a note on the particular issues and problems surrounding Leasehold properties, aimed at mortgagees in possession but these issues have as much relevance to any purchaser intending to acquire a […]
Remortgage market and the potential impact of rising interest rates.
Today’s Conveyancer has obtained information from Land Registry showing the number of applications for whatever purpose (i.e. not just transfers for value) in January 2011. We use this data to estimate how some of the largest remortgaging firms are doing. In November 2010, the CML say there were 26,000 remortgages. The two largest manufacturers of […]
13% Fall in transaction volumes
When comparing the three months of Sep – Nov 2010 with the same three months in 2009 there has been a 13% fall in the number of properties sold across England and Wales. However, the figures are slightly distorted due to the stamp duty holiday throughout 2009 and also the available figures have not been […]
Higher SDLT rates could cost buyers an additional £10,000.00
The Legislation in Finance Bill 2010 will soon introduce a higher stamp duty land tax rate of 5% for any purchase of a residential property where the consideration exceeds £1 million. The old rate was capped at 4% on purchases over £500,000.00 but the new higher rate, set to affect property purchases completing on or […]
Land Registry introduce new forms
The Land Registry will, as from 1st March 2011, only accept applications to register or cancel a notice in respect of Home Rights made on the new forms, HR1 and HR4. You can find the forms here Today’s Conveyancer, bringing you the latest conveyancing news and updates.
Conveyancing Fee Earner – Wakefield
Employer Details: Minster Law Solicitors Job Title: Conveyancing Fee Earner Salary Band: TBA Narrative: Minster Law has quickly established itself as the largest RTA/personal injury law practice in the country and are continuing to grow at a rapid rate. We operate from impressive premises in both York and Wakefield and currently employ over 600 people. […]
National Conveyancer maximises broker incentives
Goldsmith Williams say that they are taking the initiative from a record-breaking football transfer window by “funding a move for the best players in the market”. The national conveyancing solicitors have increased their broker incentives to as much as £95, mirroring the activity of England’s football clubs. Intermediaries will now receive a £95 cash introduction […]
Buy to Let market continues to improve
According to the latest data from the Council of Mortgage Lenders the buy to let market grew by 7% in 2010. An estimated 1.3 million buy to let mortgages were outstanding at the end of the year, reportedly worth £152 billion and accounting for 12% of the total value of mortgages outstanding. Buy to let […]
Localism Bill – Will it bring chaos to the property market?
The new Localism Bill proposes changes to the planning system including strengthening authorities’ powers to tackle abuse of the system and the Law Society is warning that changes could bring yet more uncertainty to the housing market. The Bill will allow local planning authorities to pursue a planning enforcement order at any time after it […]
NLIS celebrates its 10 Year Anniversary
The National Land Information Service (NLIS) is celebrating its ten year anniversary. Since it was founded in February 2001, NLIS has delivered over 19 million official electronically sourced land and property searches through its channels to solicitors and licensed conveyancers. The NLIS Hub is connected to all local authorities in England and Wales, Land […]
Repossessions fall 24%
The Council of Mortgage Lenders has revealed today that repossessions by first charge lenders in 2010 accounted for just 0.3% of all mortgages, 24% lower than 2009. In the fourth quarter the number of repossessions was down 11% on the third quarter and down 26% on the same period in 2009, this marks the fifth […]
Surveyors remain optimistic
RICS has reported that the continued lack of buyer demand and low supply levels is causing the housing market to remain sluggish. The January Housing Market Survey shows that seven per cent more surveyors reported demand for property had fallen rather than risen. RICS indicated that this was due to purchasers remaining cautious about the […]
Residential Valuations off to a flying start in 2011
Connells have today reported a flying start to 2011 in the residential valuation sector. A second successive annual increase in residential valuation activity, Connells say that the growth was not just an annual improvement. In January the total number of residential valuations increased by 9%, compared to December 2010, but a proportion of this figure […]
Andrew Palmer is appointed Managing Director of CDPL
Andrew Palmer has recently been promoted from Operations Director of CDPL to Managing Director and replaces the former MD, Stephen Ambler, following his retirement after six years at the helm. CDPL is the only volume conveyancing firm that is owned by a financial institution and over the past six years has developed a proposition which […]
LMS Holdings and LMS Direct Conveyancing sold to Brabco 1019 Ltd
Insider Media Limited have reported that LMS Holdings Limited part of the large conveyancing panel manager has been bought out of administration by Brabco 1019 Ltd which is understood to be a company owned and controlled by the majority of the LMS Management team. “LMS” as many people knew the group has over the last […]
SDLT avoidance schemes – are they breaking the rules?
The Law Society Gazette has reported that conveyancing solicitors are being pressured into becoming involved in Stamp Duty Land Tax (SDLT) avoidance schemes, costing the tax payer around £35m. In order to protect solicitors and to help them challenge any requests from Clients or third parties HMRC has issued a guidance note, outlining a number […]
January sees mortgage approvals stumble yet again
The latest e.Surv Mortgage Monitor shows purchase approvals fell 6.2% in January, the lowest level since February 2009, citing a drop in demand as being to blame as the housing market stalls. Only 39,905 mortgages were approved in January, 6.2% fewer than in December, and 17.4% fewer than in January 2010. The remortgage market also […]
Too little too late – or just in time to save the profession?
The Law Society have said that the Conveyancing Quality Scheme will provide a recognised quality standard for residential conveyancing practices and achievement of membership will establish a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: – the integrity of the Senior Responsible Officer and other key conveyancing staff. […]
CLC launches new website
Following the launch of the CLC’s new website Victor Olowe, Chief Executive of CLC says: “The site has been launched at an exciting time as we move towards a more liberalised legal services market. We hope you like the new look and feel of our site and hope that you will recommend it as a […]
