Posts with tag: conveyancers

New Changes for Conveyancers Introduced this Week

Published On: December 4, 2018 at 10:43 am


Categories: Property News

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Starting this week, licensed conveyancers will need to ensure that they are complying with the latest regulatory changes, in regards to displaying price and the services they provide.

Any practice that is part of the Council for Licensed Conveyancers (CLC) will have to make information on the fees they charge readily accessible on their website, as well as by ‘other reasonable means on request’. This change will occur from Thursday 6th December.

On top of this, conveyancers will need to disclose information on the services that they provide, making this accessible in the same way. This includes a description of the services, key stages of the services, and indicative timescales.

Conveyancers will also need to state who their staff are, detailing their experience and qualifications. The CLC points out that many of their own practices already have a ‘meet the team’ page on their websites.

Regulatory information must be included on all communications and practice websites, stating that the practice is regulated by the CLC, along with a practice licence number. The CLC secure badge must be displayed in a prominent place on the website.

Details for the practice’s complaints process should also be provided on their website.

The CLC has commented: “The cost generator must be capable of producing a quote without the need for the consumer to provide any contact details.

“You may consider providing costs in two stages. For example, you could provide examples of fixed fees based on specific values on your website and for those consumers that would then like a quote more tailored to their circumstances, you could also provide a cost generator.

“In this example, requiring contact details for the consumer to provide a more detailed estimate via telephone or email would be acceptable, provided there is some other indication of how much your costs are likely to be on your website.”

Stephen Ward, director of strategy and external relations for the CLC, has said: “All CLC practices are different and we have given them the flexibility to comply with these new rules in the way that best suits their business and their clients.

“We want to remind practices that we are here to support them so they are ready to comply from 6th December and that if they have any questions they should contact their regulatory supervision manager.”

Conveyancing Comparison Service for Buy-to-Let Investors

Published On: November 16, 2016 at 11:50 am


Categories: Landlord News

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When an investor finds that ideal investment, they have probably spent hours searching and viewing many properties, together with visiting several management agents to fully understand what financial returns they can expect after all the costs of getting the property upgraded to a safe standard. They focus on net yield.

Impartial conveyancers

Duncan Pattinson knows all about buy-to-let investment, as he used to be MD of a large buy-to-let business. He realised that what buy-to-let investors needed was a conveyancing comparison and solicitor-finder service. So many property developers and sellers of stock were stipluating that the investor had to use their nominated solicitor – hardly impartial!

Conveyancing Comparison Service for Buy-to-Let Investors

Conveyancing Comparison Service for Buy-to-Let Investors

We Help You Too Ltd manages the Homebuyer Conveyancing panel, a panel that has grown over the past three years. Some 120-plus conveyancing solicitors are members, with additional solicitors joining each week.

Online conveyancing quotes

Buy-to-let investors can budget for their conveyancing costs by going online to the Homebuyer Conveyancing comparison website: They can view and compare conveyancing quotes in just one search, without entering any personal details. They can filter their search by price, location and by mortgage lender. When ready, they can take a conveyancing quote away and book a timed call from their chosen conveyancing solicitor or licensed conveyancer to discuss their quote – straightforward, efficient and without obligation to instruct.

The conveyancing quotes fully detail their conveyancing fees and disbursements costs, and detail any applicable Stamp Duty Land Tax due to the investor buying an additional property.

Where experience matters

What is special about this particular service is that each purchase quote uses a comprehensive search pack that is under £200 and covers England and Wales. This enables investors to compare conveyancing quotes with no hidden fees or costs. They can even choose an option to add Exchange Insurance within their conveyancing quotes. If the investor is buying a new build, then a new build search pack is used, which is considerably cheaper. The savings are simply passed on to the investor.

The solicitors order the search pack from Onesearch Direct. Where Experience Matters is its strap-line. It also has a suite of other searches that can fast-track the search process if required.

Customer charter

It pays to compare competitive national conveyancing quotes from a conveyancing panel that is focused on the customer. Cheaper pricing is due to where the solicitor is located and is not a reflection of service. Each Homebuyer Conveyancing member is signed up to a customer charter.

Improving the conveyancing process

Duncan has a backgroung in improving process and, as such, this determination is self-evident, with a few additional improvements coming soon. The software and panel provides the much needed hands-off service that a buy-to-let investor needs when finding an independent solicitor at a price they can afford.

We Help You Too Ltd manages the Homebuyer Conveyancing panel.

Turning the complex into the understandable

Kate Faulkner Announced as Host of Conveyancing Conference

Published On: November 2, 2016 at 10:26 am


Categories: Property News

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Property expert Kate Faulkner has been announced as the host of this year’s Society of Licensed Conveyancers (SLC)/Bold Legal Group (BLG) conference.

Kate Faulkner Announced as Host of Conveyancing Conference

Kate Faulkner Announced as Host of Conveyancing Conference

The event will be held on Wednesday 23rd November at the Riverside Centre in Derby.

Faulkner is a leading property consultant and property market commentator.

Her business provides consumers with independent advice on how to buy, sell, rent, invest, renovate, maintain and build a property. She publishes monthly summaries of what is happening to house prices and rents, and the impact this has on consumers, businesses and the industry.

Faulkner has written 11 books on property, including four for Which? She has also presented on the BBC and is a regular contributor to ITV, Sky, The Telegraph and other media on property issues. She currently co-hosts LBC’s Property Hour every Thursday from 9pm-10pm.

Faulkner is also due to host a one-day landlord training course along with evictions specialist Paul Shamplina on Wednesday 16th November.

Simon Law, the Chairman of the SLC, comments on Faulkner’s involvement: “We are delighted that Kate will be hosting our conference this year. She has been a speaker at the event in previous years, so knows the format and has great knowledge of the topics to be covered.”

Rob Hailstone, of the BLG, adds: “Whilst we are sorry that Paul Lewis is unable to host the conference this year, as he has to be available to comment on the Autumn Statement for the BBC, Kate is an excellent replacement and I know will do a great job as host.”

Remember to keep up to date with details of the forthcoming Autumn Statement at Landlord News!

The SLC/BLG event is open to all legal professionals and offers an opportunity to ensure that CPD commitments for the current year are being met in a timely fashion.

To book a place or for more information, email or call 08714 237193.

Society of Licensed Conveyancers Announces Speakers for This Year’s Conference

Published On: September 19, 2016 at 9:07 am


Categories: Property News

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The Society of Licensed Conveyancers (SLC) and Bold Legal Group (BLG) have announced a list of speakers for this year’s conference.

Society of Licensed Conveyancers Announces Speakers for This Year's Conference

Society of Licensed Conveyancers Announces Speakers for This Year’s Conference

The organisations will hold their annual conference and dinner on Wednesday 23rd November at the Riverside Centre in Derby.

The following speakers have already confirmed that they will be present at the event:

  • Neil Buckley – CEO of the Legal Services Board
  • Graham Farrant – CEO at the Land Registry
  • Dame Janet Paraskeva and Sheila Kumar – Chair and CEO of the Council for Licensed Conveyancers (CLC)
  • June Deasy – Head of Policy at the Council of Mortgage Lenders
  • Emma Vigus – Director of PI Insurance at Howden Group
  • Hannah Mackinlay – of

The conference dinner has grown so much in popularity that the SLC and BLG have moved to a new venue for the evening events following the conference. This year’s dinner will be held at the iPro Stadium (home of Derby County FC).

The events are open to all legal professionals and offer an opportunity for all to ensure that Continuing Professional Development (CPD) training for the year is being met.

The Chairman of the SLC, Simon Law, says: “We are looking for a lot of interaction between the speakers and delegates this year, as the world of conveyancing gets ever more complex. As the SLC has continued to grow in numbers and influence, we are delighted once again to be working with the BLG, whose outreach in the profession also continues to grow.”

The founder of the BLG, Rob Hailstone, adds: “The conference provides a great opportunity not just for the excellent and varied agenda on offer, but also to network with members and fellow professionals. I am really pleased that the BLG will team up with the SLC once again this year, in the only event in the conference calendar organised by conveyancers for conveyancers.”

The SLC is the professional body that represents the licensed conveyancer profession. It works with the CLC, as well as other stakeholders, such as Government departments, industry representative bodies, consumer organisations and the media.

Conveyancers Urge Osborne to Scrap Stamp Duty Plans

Published On: March 11, 2016 at 12:00 pm


Categories: Finance News

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Conveyancers have spoken out against the Stamp Duty changes that are set to be implemented on 1st April, urging Chancellor George Osborne to scrap or modify the plans.

Osborne is due to reveal the final details of the Stamp Duty changes in next week’s Budget, on 16th March. This would leave conveyancers with just nine working days in which to enforce the new tax system.

Yesterday, the UK’s largest conveyancing firm, My Home Move, revealed further evidence that suggests a boom in the buy-to-let sector and second home market.

Now, the Conveyancing Association has urged Osborne to favour stability over continual change regarding the housing market and mortgage industry.

The association says that there has been a surge in buy-to-let transactions, which has stretched all those involved in the property sector and “placed an unnecessary burden on conveyancers to meet an artificial deadline”.

It also claims that there is a high amount of uncertainty surrounding key parts of the change, such as exemption for larger landlords purchasing 15 or more properties in one transaction.

Conveyancers Urge Osborne to Scrap Stamp Duty Plans

Conveyancers Urge Osborne to Scrap Stamp Duty Plans

From 1st April, buy-to-let landlords and second homebuyers will be charged an extra 3% in Stamp Duty on properties worth over £40,000.

The Chairman of the Conveyancing Association, Eddie Goldsmith, says: “Unsurprisingly, the conveyancing market is looking for a period of stability, but I suspect we won’t be getting that post-next week’s Budget.

“The publication of the final rules for extra Stamp Duty charges on additional properties will be made available, and one can’t help think there is likely to be some considerable confusion around them, not forgetting that the conveyancing industry will have to cope with these changes from the start of April.

“The small amount of time this provides firms to ready themselves and to ensure all stakeholders in the market are clear on these new rules is, quite frankly, ludicrous.”

He continues: “Not only would we like to see these additional Stamp Duty charges dropped, or at the very least watered down, but we feel any further change in the UK housing market, unless positively focused on areas like helping to increase property supply or supporting first time buyers, will only add to the instability we – and many others – will have to cope with.

“We believe the Chancellor should allow the market time to breathe; in our view, it is much better served by supporting steady transaction numbers, rather than the artificially-created spikes that have been far too prevalent.

“The last three months of increased buy-to-let transactions have been a case in point.”

He concludes: “Instead, we would like to see the status quo post-April maintained and allow us to plan and prepare our resources adequately based on the market itself, rather than deal with further uncertainty generated by ongoing intervention.”1 

Conveyancers have previously expressed concern over the short timeframe between the Budget and the implementation of the Stamp Duty surcharge: /conveyancers-express-concern-over-short-timeframe-between-budget-and-stamp-duty-change/

Additionally, Paul Saunders, the Head of Residential Conveyancing at Conveyancing Association member firm Shakespeare Martineau, has expressed his thoughts.

He believes: “The conveyancing industry and indeed buy-to-let landlords need some clarity from the Government on the Stamp Duty changes for buy-to-let properties.

“There remain many unanswered questions and the benefits/burden is difficult to interpret for all parties. On a similar vein, I hope that the Government will not continue its trend to disincentivise buy-to-let landlords, as we do not know until after 1st April what damage this could cause to the housing market.”

He adds: “One key subject I would like to see addressed is the huge shortage of housing. The National Housing Federation estimated 974,000 homes were needed between 2011 and 2014, with figures from councils showing only 457,000 actually built.

“With over 11m people over the age of 55, new housing needs to reflect the changing demographic and I look forward to hearing concrete plans from the Government regarding housing development.”1 


Shortage of Conveyancers Putting Property Sales on Hold

Published On: February 23, 2016 at 9:32 am


Categories: Property News

Tags: ,,,,,

A lack of conveyancers is holding up a large number of property sales, according to recent research.

The CEO of estate agent haart, Paul Smith, notes that as a result, the amount of exchanges dropped by 14.7% in January compared to the previous month and by 7.5% compared with January last year.

Based on his own company’s data, Smith estimates that there were 50,152 exchanges in January, with an average house price of £225,914.

He reports that demand has grown by over a third year-on-year, while housing supply has increased by 8%.

Shortage of Conveyancers Putting Property Sales on Hold

Shortage of Conveyancers Putting Property Sales on Hold

Part of the surge in demand may have come from a rush of buy-to-let landlords hoping to complete on a property investment ahead of the 1st April Stamp Duty deadline.

Smith comments: “The property market in the New Year has got off to a flying start with a surge in buyer registrations and new property instructions.

“The number of new homes coming on the market is up by a healthy 8% compared to a year ago, but demand has surged by 35% over the same time period, with buy-to-let investors responsible for a large proportion of this rise in anticipation of the Stamp Duty surcharge.”

He continues: “This high level of activity has resulted in a substantial backlog of homes in the pre-completion stages, and we’re now seeing a shortage of conveyancers and lawyers to progress these sales, leading to delays and a subsequent decline in the number of completions in January.

“Across the UK, we’re now seeing more than 15 buyers chasing every property to come onto the market, and house prices have subsequently risen by 10% annually.”

How does the whole UK property market compare to London?

“London is also seeing a high level of activity and finally the issues surrounding the supply of homes is starting to ease, with a 20% increase in instructions registered compared to last year,” Smith reveals.

“In fact, supply is now beginning to outpace demand, which is up by 14% over the same time period. While this increase is very welcome, we are still seeing nearly 21 buyers for every instruction, despite the slowdown at the top end of the market.”

And how are first time buyers faring?

Smith explains: “First time buyers have started the year enthusiastically, with demand for starter homes up 26% annually. This is just the start of an upward trajectory for first time buyers, as the 3% Stamp Duty surcharge for buy-to-let investors, due to be introduced in April, will mean less competition for homes.”1

From 1st April, buy-to-let landlords and second homebuyers will be charged an extra 3% Stamp Duty on properties costing £40,000 and over. Many investors have been rushing to purchase rental properties ahead of the additional tax charge.

Tax specialists have warned about the high cost of missing the deadline.

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