Rents hit new high
The latest buy-to-let index from LSL Property Services had shown a fourth successive month of rent rises. Average rent across England and Wales was up 1% to £725 in July. This surpasses the previous high of £720 in October 2011. Rent increased across almost all regions. London rent continued to rise at the fastest rate, […]
Solicitors firm bucks trends
Telford based solicitors firm Martin Kaye are celebrating a successful start to the year. Over the first six months of the year the firm has completed over £10 million worth of business. Their success has enabled them to expand to take on an additional three members of staff. Lead partner, Nita Patel, said: "We really […]
UK asking prices hit record high
Research from property management company Move with Us, has put the average UK asking price at £232,000 in June 2012. The figure was £228,000 at the same time last year. This research directly contradicts the recent RICS UK Housing Survey which identified falling prices as a key market trend. The Move with Us research shows […]
Insurance market shake-up. Is conveyancing next?
In an attempt to cut costs many insurance firms are setting up their own legal firms in order to reduce the need for outsourcing work. Will the same soon be seen in conveyancing? With larger estate agents already employing conveyancers, will we see organisations like the Co-operative exclusively using in-house teams in the future? According […]
Landlords at risk of repossession
A property management agency has warned that it is landlords rather than owner occupiers who are at risk of repossession. Sarah Rushbrook, Founding Director of Rushcroft & Rathbone warns that many Landlords have underestimated their true costs and have run into trouble with keeping up with repayments. The warning comes despite the latest report by the […]
First time buyers buck lending trends
The Council of Mortgage Lenders latest figures have revealed that despite a general market contraction in mortgaging, lending to new buyers increased throughout June. Lending to first time buyers increased to the highest level since July 2010, apart from in March 2012. Gross lending was down 6% from May’s total of £12.5 billion to £11.7 […]
House prices dropping, says RICS
The July 2012 RICS UK Housing Market Survey showed that 24% more solicitors believed prices were falling rather than rising. Falling prices were one of four key market trends the report identified. As well as a reduction in prices, transactions slipped for the fourth consecutive month. London bucked national trends as the only region where […]
Post Office aims to be top-ten lender
The provider is putting in place mortgage specialists, in several key branches, as part of a pilot scheme. Initially seven mortgage specialists will be available in larger branches in Birmingham, Solihull, Walsall, Luton and Norwich. The Post Office hopes to expand this over time and eventually have a network of hundreds of advisors. Until now, […]
Law Society has grave concerns on Santander
The society has confirmed it is holding urgent discussions with Santander following their recent panel cuts. They have expressed concerns regarding the actions of Santander in reducing the membership of its panel. Law Society chief executive Desmond Hudson said: “We retain grave reservations about the methods they are using and are concerned about the effects […]
Connells rolling out new panel management system
The national estate agency and property services group announced today it has commenced the roll out of TMSecureâ„¢, a new panel management system which will be used across its 500 offices. The new software, developed by TM Group UK Limited, is described as innovative and flexible and will enable Connells Group to effectively manage its […]
Law Society endorses anti-money laundering verifier
The society has confirmed that it will endorse 192business, part of Experian, as its preferred supplier for anti-money laundering e-verification. 192business has been a preferred supplier to the Law Society since 2009 and this will now continue for a further three years. 192business, provides organisations with a host of identity verification, including personal data verification, […]
SRA commence consumer research
The SRA are looking at how the public access legal services and conducting a number of consumer visits around the country. The first of these saw the people of Llandudno canvassed for their views. The SRA was in North Wales last month to gauge the opinions of local people on the legal services market. The […]
Ancient law could cripple homeowners
A law dating back to Henry VIII could mean huge bills for homeowners. Thousands of unwitting home owners could be subject to large bills to help repair their local churches. The legally binding responsibility may not have been included in their house deeds. Those who did know about the responsibility have taken out insurance to […]
SRA agrees change to Qualifying Insurer’s Agreement
The Solicitors Regulation Authority (SRA) has agreed to a small change to the agreement, in order to avoid a possible administrative problem. The change was suggested by the insurers that provide professional indemnity cover to law firms. Several firms had contacted the SRA and the suggested amendment has now been approved by the SRA’s Board. […]
Conveyancing Comprehensive Update 2012
“Keith is fantastic – he is so confident in his material; and very easy to listen to" Concentrating on changes over the last 12 months, this seminar is ideal for the busy conveyancer; it is very practical and relevant to your day-to-day practice. Some of the changes are small and could easily ‘sneak up on […]
Places are filling up fast as conveyancers sign up to attend SLC Regional Roadshows
Those planning to attend one of the six regional conveyancing road shows, taking place at the end of this month and in early September are being urged to book now, as spaces are filling up fast. The series of road show events, being organised by the Society of Licensed Conveyancers (SLC) will give those in […]
SearchFlow Expands Sales Team Following Launch of New Website
Following the successful launch of its new website, SearchFlow, the market leading property search business, has expanded its sales team. This is in response to excellent feedback from the market to the new website features and the improvements it brings to speed and efficiency when ordering property searches. Stuart Pearce, Chief Executive at SearchFlow, said: […]
Tesco latest player in mortgage market
Tesco has launched a range of mortgages. The supermarket is offering Tesco Clubcard holders points in return for repayments. The range includes two, three and five-year fixed rate mortgages, and a two-year base rate tracker. Rates start at 3.19% (two-year fixed, maximum LTV of 70%) and they are offering mortgages up to a maximum of […]
Connells Group expands
The property group has seen a drastic increase in profits. This is despite significant investment, including increasing staff numbers. The group saw a 27% increase in profits on last year’s results, whilst it increased its headcount 18% from 389 to 460. Adrian Scott, Connells Group mortgage services director, said: “We’ve had a strong start to […]
Nationwide denies conveyancing panel cuts
Following on from Santander’s drastic panel cuts, Nationwide has also been criticised for making increased demands of firms in order to stay part of its conveyancing panel. Unlike Santander, Nationwide have denied the accusations. The building society has said they have not changed their criteria in the last three months. Reports suggested that criteria had […]
