Property law reform will help homeowners escape leasehold trap.

It will soon be possible for leasehold property owners to buy the freehold of their property more easily under plans for an overhaul of a stressful and costly system currently in place. At present as a leaseholder, you must wait two years before buying the freehold to your property and can extend the lease only […]

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Homebuyers slowly returning to London’s property market, despite Brexit uncertainty

Despite Britain’s looming and increasingly uncertain departure from the EU, homebuyers are gradually returning to London’s property market due to falling property prices. Rightmove have reported an upturn in buyer activity which it says has indicated market recovery as  average asking prices were half a percent lower — or £3,360 — than a year ago, at […]

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Changes to the Regulatory Arrangements and Code of Conduct – How to comply with the new regulations resulting from the CMA recommendations

In December 2016, the Competition and Markets Authority (CMA) Published its Legal Services Market Study. It highlighted problems of transparency of price and quality and that consumers did not have enough information before employing a lawyer. Recommendations were made by the CMA, mainly to “deliver a step change in standards of transparency to help consumers (i) understand […]

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Conveyancing firms need to be open with customers about referral arrangements

The Legal Services Board has given approval to the Council for Licensed Conveyancers to amend its rules and require licensed firms to improve information about costs and whether a referral fee has been paid to an agent. The aim of this is to enable consumers to make informed decisions about their choice of legal service […]

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Sadiq Khan Announces Affordable Housing Partnership

The Mayor of London has announced a new housing partnership to build 5,000 new houses in the London District. This follows the money given to the city of London to build more affordable housing. Khan secured £1.67 billion from Government for London in the Spring Statement meaning he is able to build 5,000 of the […]

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BANNING GAZUMPING IS TOP HOUSING POLICY CHANGE WANTED SAYS SURVEY

The UK Government are forever bringing in new measures and policies around the housing sector but according to a survey, Britains number one wish is that gazumping is banned. When a sale is agreed on a house and then someone else comes along and offers more, is called gazumping and is hated by 55% of […]

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How to spot the red flags of money laundering

When it comes to money laundering and organised crime, there are some ‘Red Flag Indicators’ that conveyancers should be aware of. This advice could be particularly important following the announcement that conveyancers could be liable for identity fraud under new proposals put forward by the Law Commission. In particular, the CLC states that “several red flag indicators together, without reasonable […]

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Rent prices in London rise due to lack of rental properties

Rental prices in London have risen to an average £2,000 a month, the highest it has been in three years. This is the first time that the capital has had the strongest-performing rental market since 2014. The price increase has been fueled by a shortage of new rental properties in the city meaning average rents […]

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Price of overseas property soars because of Brexit

The uncertainty surrounding Brexit has driven up the cost of overseas property, according to Hargreaves Landsdown Currency Service. Despite house prices in Spain still being 16% lower than they were in 2010, British buyers do not particularly benefit thanks to the falling pound. The drastic decline in the price of sterling since the EU referendum […]

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Price of London first-time buyer homes drops as buy-to-let market collapses.

House prices in London are continuing to slump, with average asking prices down just over £11,000 year on year. Smaller homes with one or two bedrooms have seen the largest price drops since July 2017,  good news for  first time buyers; Starter-home prices have fallen 3.5 per cent (or almost £18,000) to an average £486,000, according […]

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