Property

A law firm which released nearly £1.3m in deposits for off-plan flats in a failed development in Liverpool did not breach its contract with the buyers, appeal judges have ruled.

A set of tech tools designed to create a “common language” for property transactions has been launched by the Home Buying and Selling Group. It is being trialled by 10 law firms.

A business specialising in leasehold extensions has set up an alternative business structure to provide clients with a “one-stop shop” covering valuation, project management and legal advice.

Conveyancers should charge more – or not pay referral fees – so they can reduce their workload and improve transaction times, the head of an estate agents body has argued.

A very experienced solicitor who showed a “complete blind spot” with regard to his obligations to ‘know your client’ and recognise the risks of conveyancing fraud has been suspended for a year.

The Council for Licensed Conveyancers has issued a stark warning to the law firms it regulates to “stress test their businesses for resilience” to a fall of up to 40% in work volumes.

A solicitor accused of not having a firm-wide anti-money laundering risk assessment in place and lying about it to the SRA, has been cleared by the Solicitors Disciplinary Tribunal.

The Council for Licensed Conveyancers is making greater use of the range of its enforcement powers, rather than going straight to full disciplinary action, its chief executive has said.

A law firm which acted for both sides in a property transaction without obtaining their consent has been rebuked by the Solicitors Regulation Authority.

The government needs to step in to mandate reforms that promise to revolutionise the home buying and selling process, while conveyancing fees have risen, a roundtable has heard.