Home ownership further out of reach as lifetime rent cost passes £50,000
Owning their own property is getting harder and harder for first time buyers, with the lifetime cost of rents set to increase by nearly £12,000 for those starting renting this year. The research published by the Association of Residential Letting Agents (ARLA) also says that the average first time buyer moving out of the family […]
Conveyancing poll results – Regulated vs Official Searches, with Nick Dyoss
tm asked its customers, “With VAT potentially being added to the cost of CON29 reports, are you now more likely to order Regulated or Official Searches?”
Average law firm’s income rises 5.4% in 2015
The average firm increased its income by 5.4% in 2015 compared with the previous year according to the Law Society’s Law Management Section (LMS) Financial Benchmarking Survey. The rise is the sixth consecutive increase, despite what the Law Society saw as “a challenging year”. Net profit per partner also rose for the fifth consecutive year […]
Stamp duty reforms could already be working for first time buyers
First time buyers may already be finding themselves at an advantage when it comes to getting on the property ladder thanks to the forthcoming stamp duty reforms, according the Home Owners Alliance. The most recent Home Owners Alliance House Price Watch Index, which tracks changes in several other indexes says that while house prices have […]
Nearly 50% of solicitors and conveyancers predict a busier market in 2016
In a survey conducted by Searches UK in December 2015, solicitors and conveyancers predicted a busier market in 2016 with even more transactions expected to complete. Due, in part, to the imminent increase in Stamp Duty for buy-to-let properties set for April 2016, 46% of solicitors and conveyancers believed the market would become busier with […]
Labour launches first major review into home ownership for a decade
The Labour party have launched what they say will be the first major review into home ownership for a decade. The independent review, chaired by Taylor Wimpey CEO Pete Redfern and a panel of expert advisers, made up of former Monetary Policy Committee (MPC) member Dame Kate Barker; Andy Gray, former Managing Director of Mortgages […]
Quarter of a million Help to Buy ISAs opened but effectiveness is questioned
A quarter of a million first time buyers, more than half of whom are aged 30 and under, have opened a Help to Buy: ISA since the Government’s landmark scheme launched on 1st December 2015, equivalent to 1 person opening an account every 30 seconds, or over 3,000 a day. The first home buyers have […]
The de-skilling of conveyancing
One thing that old fogies (like myself!) sometimes bang on about is the de-skilling of conveyancing since the golden days of their youth and that this and the growth of ‘conveyancing factories’ is the cause of all the ills in the modern world. However, the real problem with conveyancing is that the skills and knowledge […]
Conveyancers shouldn't "police" stamp duty – Eddie Goldsmith
The Conveyancing Association (CA) have responded to the Treasury’s consultation on stamp duty changes, with Chairman Eddie Goldsmith calling for purchasers to be liable rather than Conveyancers expected to police the tax. The consultation was published on 28th December 2015 with responses required by 1st February. CA also pointed out a number of what it […]
Communication: The key to effective conveyancing
In helping to facilitate one of the biggest events in a person’s life, conveyancers have a lot of responsibility on their shoulders. Buying a home is a daunting task, particularly for first time buyers, so people will inevitably be relying on their conveyancer to help make the process run smoothly. In principle, doing the basics […]
The Six Nations
Grab your six pack of lager, the Six Nations starts on Saturday 6th February. England, Wales, Ireland, Scotland, France and Italy will all battle it out on the rugby pitch in the hope of winning a Grand Slam and not the wooden spoon (England). Although the England rugby team have a lot to prove this […]
More than 1 in 4 property sales fell through in 2015 – are your clients covered by Buyer Protect?
Buying a property can be an exciting yet daunting process for homebuyers. Searches UK identified areas of risk during the purchase of a property and introduced Buyer Protect, an invaluable reimbursement scheme, to help protect the investment of homebuyers. In the event of a failed purchase Buyer Protect will protect the homebuyer’s money up to […]
