2013: the year of the cautious borrower
Research by myhomemove has found that despite the resurgence of the housing market in 2013, it was a year belonging to the cautious borrower. As the UK’s largest provider of mover conveyancing services, myhomemove is in the unique position to see what people actually paid for their properties, compared to their advertised price. Last year […]
Virtual conveyancers – a solution to the staff recruitment crisis?
If you were to ask the Head of Conveyancing at almost any legal practice what is their biggest challenge following the recent boom in transactions — the recruitment of high quality staff would be top of the list for most. Swathes of experienced staff lost during the downturn at the start of the decade have […]
OFT slaps £246,655 fine on three estate agents
Three estate agents have been fined a total of £246,665 by the OFT for failure to comply with the Money Laundering Regulations 2007. Hastings International UK Limited (Hastings) is an estate agent with two premises in south London and was fined £47,966, they have until 24 April 2014 to appeal. Jackson Grundy Limited (Jackson Grundy) […]
Lifetime licenses for sole practitioners’
The Solicitor’s Regulation Authority has announced it could allow sole practitioners to apply for lifetime licenses. Currently, solicitors who wish to operate as sole practitioners have to apply for their status to be recognised as part of the renewals process every year, whereas other firms only have to be authorised once – effectively receiving "lifetime […]
Law Society condemns Land Registry reforms
The government’s proposed plan to privatise the Land Registry has received condemnation from the Law Society. They warned that the proposals could undermine the integrity of the register and said that: ‘granting and validating legal title must be carried out with impartiality.’ Jonathan Smithers, Law Society deputy vice-president and Conveyancing and Land Law Committee chair, […]
Remortgage lending soars by nearly half on last year
Remortgage lending went up by 48 per cent from last year, totalling £3.99bn, a recent report reveals. While the figures show a 5 per cent monthly drop in 2014’s monthly gross remortgage lending, down from January’s £4.2bn, this is an increase of £1.3billion from February last year. The LMS remortgage report showed that the average […]
Pensioners boost buy-to-let market
A property expert has predicted that the buy-to-let market will get a boost from pensioners looking for alternative investments. After the recent Budget announcement revealed plans that will allow pensioners to withdraw money directly rather than being forced to buy an annuity, Head of Residential Property at Napthens solicitors, Sarah Barnes, foresees the buy-to-let property […]
Surge in cash-buyers
Cash buyers are driving the housing recovery with levels at their highest since 2008. Hamptons International estimates up to 70 per cent of the 20,000 additional property sales recorded by HMRC in the first half of 2013 can be attributed to cash buyers. Research carried out by Hamptons International shows that cash buyers accounted for […]
MMR – Ready or not?
With only one month to go before the new mortgage rules come into force, the Council of Mortgage Lenders (CML) is preparing for the possibility of a rocky road ahead. The CML recently posted that ‘the sheer scale of the changes to firms’ systems and processes may affect transition to the new rules in the […]
42 per cent rise in first-time buyers
The number of first-time house buyers has risen by 42 per cent year-on-year, research has revealed. The latest First Time Buyer Opinion Barometer from LSL Property Services showed that there were 22,400 first-time buyer transactions in February 2014, compared to 15,800 in February 2013. Average first-time buyer deposits also fell by four per cent year-on-year, […]
RPSA annual conference 2014
The Residential Property Surveyors Association (RPSA), has today announced that there are only 2 weeks left to book to attend the RPSA annual conference. Held at the BRE in Watford on Tuesday 15th April, this conference marks the national launch of the most important development in residential surveying in years as the RPSA introduces the […]
It’s raining sinkholes!
Whether or not you believe that climate change is occurring, the last decade or so has shown some significant changes in rainfall patterns in the central and southern parts of the country. These changes have influenced ground instability resulting in the recent spate of “sinkholes” that occurred in February. Looking back at the rainfall statistics […]
Moneypenny announces new partnership with legal software suppliers Linetime
Telephone answering specialist Moneypenny has announced its latest partnership agreement — with legal software suppliers Linetime. Based in Leeds, Linetime is perhaps best known for its product, Liberate, which provides firms with a legal practice management tool to support legal case activity, document and financial management, debt recovery and online case collaboration, with firms generally […]
Linder Myers confirms completion of solvent deal
Linder Myers Solicitors has completed a deal with leading legal services specialist, Assure Law which will see the firm refinance its debts and appoint a chief executive officer to lead the practice. The deal, believed to be the first of its kind in the legal sector, sees Assure Law chairman, Tony Stockdale, appointed as chief […]
What lessons should we learn from recent Flooding events?
As the flooding of the last few weeks pales into a near distant memory, at least for those of us unaffected, what lessons should we draw? Well, even before the floods arrived, the message coming out from all the Conveyancing CPD presentations we worked alongside last year was about flood risk having increasing significance for […]
Legal Eye expands again!
Due to the increased complexity and pressure of compliance, more and more law firms are outsourcing their compliance. As a result Legal Eye have been carefully recruiting and we are delighted to announce the appointment of 3 new team members. Dawn Stone has joined as an Associate, Kertu Kallas has joined as a Compliance Assistant […]
Home Mover Conveyancing – what does the future hold?
Residential conveyancers will look forward to increased business as the home mover market improves following the recession but do they find themselves at a cross roads of choices, the making of which may meaningfully influence their prosperity or will the their future , inevitably, be along the same pre-ordained bumpy road? In ascertaining where you […]
Hooper Burrowes Legal expands team
Shrewsbury firm Hooper Burrowes has expanded its residential property team by recruiting conveyancer Alison Haughton. Mrs Haughton has worked as a licensed conveyancer within the Shrewsbury area for over 17 years. Love Shrewsbury reports, “Her move to Hooper Burrowes Legal, based at Battlefield Enterprise Park, from one of Shropshire biggest law firms, reunites her with […]
All change in key posts at Law Society and LSB
Last week Desmond Hudson the CEO of the Law Society announced his resignation whilst in the same week the new Chair of the LSB was announced. Most conveyancers will know Des Hudson or at least know the name. Last week he announced that he will retire from his role in July, after the society’s annual […]
Conveyancing Transactions 32% higher in February
Figures from HMRC indicate that the number of transactions for residential properties valued at over £40,000 increased year on year by 32% in England and Wales between February 2013 and 2014 In February 2013 there were 58730 residential conveyancing transactions in England and Wales however this figure rose to 77,720 this February. With each purchase […]
