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IQ Legal Training, a fast growing UK-based training provider for residential and commercial lawyers, has announced that it has entered into a collaboration with Today’s Media, the pre-eminent supplier of private clients news for practitioners, designed to facilitate continuing professional development throughout the legal community. IQ Legal Training has been working closely with Today’s Media […]
tm:tv to give property professionals the lowdown on ESG
ESG, more formally known as Environmental, Social and Governance criteria, is undoubtedly complex – with nuances, reliance on multiple data sources, and more! Yet it’s something law firms need to develop a greater understanding of, as investors are increasingly looking to improve sustainability measures across their portfolios. To give property professionals a head start on […]
Solicitors fined over failure to prevent £3.3m conveyancing fraud
Two directors of the firm Mayland Porter have been fined £10,000 and £5,001 respectively, after failing to adequately oversee the activities of a bogus solicitor alleged to have carried out £3.3m in property fraud. The Solicitors Regulation Authority (SRA) fined Darren Fazackerley and Meenan Goyal in relation to conveyancing frauds taking place in the London […]
Firms fined for AML failures
The Solicitors Regulation Authority has fined six firms as it continues to clamp down on anti-money laundering non-compliance. The firms were fined £800 and ordered to pay costs of £600 after they took over a year to demonstrate they had taken steps to comply with new regulations introduced in 2020. The fine follows previous sanctions, […]
Developers Commit to Ending Ground Rent Scandal
The CMA has secured formal commitments from leading companies as part of its ongoing work to tackle issues in the leasehold sector. Aviva has committed to remove certain terms from its leasehold contracts which cause ground rents to double, and Persimmon will now offer leasehold house owners the opportunity to buy the freehold of their […]
Conveyancers miss SDLT relief resulting in massive overpayments and claims
PI insurer Howdens have reported insurers seeing a significant increase in claims arising from a failure to apply for Multiple Dwellings Relief (MDR) from SDLT resulting in massive overpayments of SDLT to the treasury. The findings came to light at a roundtable hosted by Howden and SDLT Compass convened to discuss opportunities around SDLT relief […]
Environmental Search Report Specialist Announces Product Improvements
Groundsure, a leading environmental search report specialist involved in over half of the UK’s residential property transactions, has today announced that it is revolutionising its residential product portfolio with exciting changes to the popular Avista, Homebuyers and Homescreen reports from 1st July 2021. The enhanced reports will include information from analysis of more than 110 […]
Property professionals invited to try new ‘Safe Harbour’ ID Check for free
tmgroup, the leading provider of property searches and data, are excited to announce that they can now support their clients in meeting HM Land Registry’s Digital ID Standard (Safe Harbour) – thanks to their partnership with Thirdfort and the launch of a new ID check, which incorporates Government-grade security. Try the new Thirdfort Standard ID […]
A proactive approach to cyber security pays off
Friday afternoon fraud – it’s when criminals target conveyancing firms, the busiest time of the week and – it’s on the increase, a recent cyber security review has found. The Solicitors Regulation Authority (SRA) reported that there was a 113% rise in fraud alerts between March 2020 and March 2021, with 89% of all 2020 […]
Firms invited to join customer review pilot
Law firms have been invited to join a pilot exercise that is helping develop meaningful quality indicators which can help potential clients choose their legal service provider. The exercise, a joint project between the Solicitors Regulation Authority (SRA), Council for Licensed Conveyancers (CLC), CILEx Regulation and Bar Standards Board (BSB), has brought together website providers […]
Updated Practice Guides: PG50, PG36, PG63 & PG13
There has been an update published in the following practice guides: Requisition and cancellation procedures (PG50) Page summary: Advice on how to avoid requisitions on applications and our procedures where they do need to be raised (practice guide 50). Change made: We have updated section 3 regarding the information we require to consider granting an […]
Website Transparency – Haven’t we done this already?
As part of our ‘Technical Corner’ we want to bring you information that will help you to continue to learn and grow in your career. This month’s technical corner article comes from Amy Bell, Director of Teal Compliance. We have seen an increase in the enquiries we have had about compliance with the Transparency Rules. […]
Search insurance case studies in conveyancing risk management
To search or not to search It is always a dilemma for conveyancing solicitors; to search or not to search when purchasers want to skip that key stage of the conveyancing process. Often a purchaser is desperate to complete, for example, because they have a tenant lined up to rent the place or they need […]
HMLR Practice Guide updates: PG35
Here are the latest practice guide updates issued by HM Land Registry. Corporate insolvency (PG35) Page summary: How to deal with applications involving the insolvency of corporate bodies. Mainly for insolvency practitioners and conveyancers (practice guide 35). Change made: Section 2.6 has been added to clarify HM Land Registry’s requirements when registering a company in […]
Planning data must be overhauled to enable better informed decisions
Planning may be top of everyone’s minds right now, but the data underpinning it is in desperate need of an overhaul, according to the panel of the latest tm:tv session “Understanding the value of planning data”: Paul Addison, Owner of DevAssist Stuart Tym, Planning Lawyer (Senior Associate Solicitor) at Irwin Mitchell Max Jarmey, GeoSpatial Analyst […]
Lawyer Checker Thirdfort meets HMLR Digital ID Standard
Lawyer Checker is a trusted brand used by many conveyancers to defend against fraud and cyber threats, most well-known for its commended Account & Entity Screen. Now conveyancers can demonstrate best practice and meet the HM Land Registry’s new Digital ID Standard with Lawyer Checker’s Thirdfort Standard product. Today Thirdfort have launched Thirdfort Standard, an […]
CLC launches cyber insurance consultation
The Council for Licensed Conveyancers (CLC).has launched a consultation aimed at clarifying the extent to which cyber-related losses are covered by professional indemnity insurance (PII). The six-week consultation is in response to directions from both the Prudential Regulation Authority and Lloyd’s of London to manage ‘silent’ risk by being explicit on whether coverage is provided […]
Data Innovation Driving Source of Funds
In January 2021 The Legal Sector Advisory Group on anti-money laundering (LSAG) updated its guidance on how law firms should be dealing with the increasing risk of money laundering. Conveyancing continues to be a focus for criminal activity, enabling criminal organisations to filter illegal funds through the sale and purchase of property. One of the […]
Ground rent doubling negligence claim
A case has been brought against a conveyancing firm for failure to notify their client of the incremental increases in ground rent on their leasehold property. The case relates to the previously common practice of builders selling new-build properties with leasehold tenures, with an agreement that the ground rent would double every 5-10 years. Carole […]
Women in Residential Property to host a panel discussion on cladding
As the government’s controversial attempts to resolve the issues, relating to cladding, continue to cause uncertainty for both residents and residential property professionals, the Women in Residential Property (WIRP) Network has announced that it will be hosting a panel discussion on cladding, on Zoom, on the 13th May at 4.30pm. The event is open to […]
