Lenders Suspend High Loan To Value Mortgage Products
Over the past three weeks, a third of mortgage deals have been pulled from the market as Covid-19 causes property market chaos. At the end of last week, governmental guidance urged buyers, sellers and stakeholders in the home buying and selling process to delays home moves wherever possible. Even before this, lenders were reducing the […]
Cutting Costs And Coming Out Fighting
Cutting costs without cutting opportunity Businesses up and down the country are looking at the current situation and considering where they can most effectively cut costs. Given the reduction in demand for many products and services, there is clearly an opportunity to reduce overheads amongst the “doers.” Mid-tier management and admin functions are often hacked […]
Onboarding Clients When Working Remotely
The legal sector is embracing a brave new world of providing legal services. We are no longer able to meet with clients face to face and are encountering difficulties in remaining regulatory compliant at a time when legal services are still in high demand. Working remotely throws up a number of hurdles which will need […]
Diary Of A Highstreet Conveyancer – Tuesday March 31
Tuesday I had a completion today – I never used to be nervous about completions as I was just so used to doing them, final searches, exchange contracts, set the completion date, update the client, receive the completion monies, do a Lawyer Checker search and then transfer the monies to the sellers’ solicitor. As I […]
HMLR Issue Statement Warning Of Delays
HM Land Registry (HMLR) has issued a statement highlighting that some of their services are likely to be disrupted. Find a property, register create applications and register update application services are set to experience significant disruptions with discharge updates facing moderate disruption in times of remote working. Whilst HMLR are working hard to prioritise services […]
One In Seven Homeowners Using Mortgage Holiday
One in seven mortgage holders in the UK are now subject to a mortgage payment holiday. According to UK Finance, over 1.6 million mortgage payment holidays have been utilised by homeowners affected by Covid-19 saving an average of £755 per month. More than 1.2 million mortgage payment holidays were approved between March 25 and April […]
Housing Market Set For Short Sharp Contraction
UK housing transactions could fall short of projections by between 38 and 53 per cent in 2020, according to recent speculative data. According to economic projections, Savills has predicted a ‘short sharp shock’ in UK housing transactions as a result of frozen activity caused by government interventions introduced to slow the spread of Covid-19. The […]
