Solicitors’ fury as insurer leaves PII market (LSG)
Sole practitioners and principals of small firms have reacted with shock and bewilderment to letters notifying them that their insurer has pulled out of the professional indemnity market.
Agents urged to prepare for banks requiring individual client accounts (PW)
Letting agents are being advised to have a back-up plan as a major UK bank has notified clients that it will be closing undesignated client accounts.
Big law firm “will ditch client account by end of year” (LF)
A large commercial law firm will ditch its client account in favour of a third-party managed account (TPMA) by the end of the year, a leading payment processor has predicted.
Homes “stuck in the legal log-jam” reach five year high says Rightmove (EAT)
Rightmove says the number of homes stuck in what it calls “the legal log jam” is at its highest for over five years.
Conveyancing ‘log-jam’ as properties taking longer to get under offer to exchange (PIE)
Properties are taking longer to get from sales agreed to exchange, Rightmove said this morning.
Chancellor denies Times story as he rules out changing Stamp Duty to make sellers liable (PIE)
Chancellor, Sajid Javid, has dismissed a front page story run by The Times that he is considering a change to Stamp Duty by switching the payment from buyers to sellers.
Land Registry hires 1,000 staff to reduce shocking six-month delays for leaseholders (TN)
Ongoing problems are beginning to seriously impact the housing market as leaseholders wait for months to update leases prior to putting properties on the market.
Average exchange of contracts takes over five months – claim (EAT)
A sales progression tool is urging property professionals and consumers alike to do more to speed up typical transaction times, and claims that on average the exchange of contracts takes […]
16,500 Homes Sold By Modern Method of Auction Firm (TC)
Modern method of auction is growing in popularity across the UK as a more buyer friendly option. It works like an auction on eBay, where buyers can bid on property […]
Anti-money laundering expert calls for developers’ loophole to be closed (PIE)
A company that runs an anti-money laundering verification platform has called for all property sales to be brought under the law.
Solicitors “must think about run-off cover” ahead of SIF closing (LF)
Partners and fee-earners in law firms which have closed should give “careful thought” to buying additional run-off cover to protect them when the Solicitors Indemnity Fund closes next year.
Landlords’ confidence collapses to a record low after ‘abolition of Section 21’ announcement (PIE)
Landlord confidence has fallen to a record low, according to the National Landlords Association.