Mortgage approvals for purchase up nearly 20% on 2015 in January – BoE
49,015 mortgages for house purchase were approved in January according to Bank of England Stats published today up nearly 20% on January 2015. The number of remortgages approved also rose compared to twelve months ago, with 33,546 compared to 26,456 in 2015, an increase of 26.8% Seasonally adjusted figures point to a relatively busy January […]
House prices rocket in January on back of stock shortage
House prices have increased by 2.5% in January according to the latest figures from Land Registry. While building and planning permissions have all increased recently they are still yet to come close to government targets indicating prices rises due to shortages will continue for some time. Prices in London in particular have increased hugely, with […]
Law Society tells profession to pay it’s work experience kids
The Law Society has called on the profession to pay those undertaking work experience “where possible” to help ensure diversity in the profession. In a 2014 survey the Junior Lawyers Division of the Law Society found that 79% had undertaken unpaid work experience. 53% of those had undertaken a month or more, while 23% had […]
Scam Alert Round up 29th February
Here are the most recent scam alerts issued by the Solicitors Regulation Authority (SRA). Letters and emails claiming to be from Clarke Willmott LLP The SRA has received reports of emails and a letter claiming to be from Andrew Stone of Clark Willmott stating that the recipients should cease selling counterfeit or unauthorised goods on […]
Revised decision (Conveyancer Slater – Tweet of the Week)
One thing I have learnt from Property Law revision….I never want to become a conveyancing solicitor! — Adam Fawcett (@AdamFozz) February 21, 2016
One in five conveyancers and estate agents define the house moving process as an “absolute nightmare”
The Conveyancing Association has launched a course aimed at getting Estate Agents and Mortgage Brokers to understand the conveyancing process after it emerged one in every five conveyancers and estate agents collectively view the process as an “absolute nightmare” The £59 course includes three modules all designed to help agents and brokers understand what’s going […]
Estate agents taking home more than twice that of Conveyancers
The average estate agent is taking home twice as much as the average conveyancer, according to Property Week. The magazine reports the average residential agent working in both sales and lettings can expect average pay of £49,023 plus a bonus of £35,868. The average licensed conveyancer can expect to start on £16,000 to £20,000 rising […]
Estate Agent says a shortage of conveyancers is holding up property transactions
Paul Smith, CEO of estate agents haart says a shortage of conveyancers is holding up transactions with a long backlog starting to develop. haart’s market monitor for February recently revealed an estimated 35% surge in the number of buyers entering the marketplace in the last year with housing supply up 7.9%, with the report putting […]
tmgroup responds to PCCB statement on Local Land Charges
The Property Codes Compliance Board (PCCB) recently expressed their concern at the number of local authorities that are causing delays to property transactions. This has provoked some debate within the industry, with several commentators subsequently clarifying their position on the matter. Originally commenting, Kate Davies, the Chairman of the PCCB said: “We are very concerned […]
House building hits seven year high with starts up 23%
The number of house builds started in Q4 of 2015 was 23% higher than in 2014 according to new figures released by the Department for Communities and Local Government (DCLG). It brings the total number of new builds started in 2015 to 143,500 Communities Secretary Greg Clark said: “Aspiring home owners should get the help […]
Is El Niño to blame for the extreme weather conditions experienced in the UK?
Many of us have noticed the unusually wet and warm winter we are currently facing in the UK, but what are the causes of this strange phenomenon? It’s not just the UK that’s facing irregular weather patterns. Severe flooding has been observed in parts of South America, with devastating storms in Northern America and droughts […]
Understanding flood risk
Groundsure understands that industry terminology can be confusing, especially around data and the general terms on flood reports. This short video clip details the types of data Groundsure interprets, common misconceptions and how they analyse the level of risk to a property. Groundsure has also produced a handy flood guide which contains a lot of […]
Don’t say we didn’t warn you!
The HMRC have confirmed that VAT will be added to CON29, coinciding with the launch of the new forms.
SearchFlow comments on HMRC’s latest release of UK Property Transaction Data
Maud Rousseau of SearchFlow provides comment on the latest UK Property Transaction Data published by the HMRC.
A hole lotta trouble in London
Following another incident involving development works and the London Underground, Groundsure has created the Groundsure Underground report designed specifically for conveyancers to ensure identification of the location and depth of existing and proposed London Underground lines.
Mortgage approvals up 33% on January 2015
Mortgage approvals up 38% on January 2015 The number of mortgages approved by high street banks was 33% last month compared with January 2015. The rise is being attributed to a rush on second homes ahead of the new 3% stamp duty charge set to come in at the end of next month. The number […]
As industry braces for a buy-to-let surge, beware the risks of rushing
With implementation of additional stamp duty approaching, leading property risk management expert urges risk management diligence Mortgage lenders and conveyancers alike across the UK are bracing themselves for an expected surge in buy-to-let property transactions, stemming from the additional stamp duty coming into force from 1st April. According to figures obtained by the BBC, the […]
An overview of January’s SRA scam alerts 2015-2016
In January 2015 we saw 6 scam alerts, which consisted of 3 letter-based scams, 2 email-based scams, and correspondence using the name Elizabeth Wendy Wilkinson. Fast-forward to January 2016, the scam alerts are on the rise, having increased to 11 for the month, with prevalence in one particular area. 8 email-based scams have been brought […]
Leeds based Blacks named Best Conveyancing Service at Mortgage Strategy Awards
Blacks Connect have been named “Best Conveyancing Service” at the Mortgage Strategy Awards, the second time they have received the award in three years. Judges apparently praised Blacks for their “emphasis on brokers and its willingness to work with them for the benefit of their customers” David Gilman, head of Blacks Connect, said: “To receive […]
Number of transactions up 7.5% year on year for January 2016
The number of residential transactions for properties worth more than £40,000 in January was 83,590 according to figures released by HMRC, up 7.5% on January 2015. Seasonally adjusted figures also suggest a slight dip from the norm, going from 109,020 in December to 105,940 in January Andy Sommerville, director of Search Acumen, said: “Although residential […]
