Property

Conveyancing fees are down by over a fifth in real terms from the peaks seen during the stamp duty holiday as the market has cooled, according to new research.

The three biggest mortgage lenders in the UK – Lloyds, Nationwide and NatWest – and property website Rightmove, have invested £10m in the digital property transaction business Coadjute.

MPs are to probe whether consumers have the information they need to choose a conveyancer as well as the role of referral fees, it was announced yesterday.

Home movers are generally happy with the service they received from their conveyancer – but a large proportion have little idea what they actually do, new research has found.

A conveyancer who forgot to put in place a declaration of trust on the ownership of a property in the rush to beat the stamp duty holiday deadline in 2021 has been rebuked.

A litigant in person who made a ‘without notice’ application to move property transactions to completion, blaming the other side’s solicitors for not replying to him, mislead the court.

City law firm BCLP has used generative artificial intelligence to develop a lease reporting tool which is being rolled out to UK clients this month.

The legal services market will continue to grow in 2024, hitting a turnover of £50bn with a “resilient” corporate law sector boosted by “stronger economic conditions” later in the year.

A Yorkshire alternative business structure founded in 2019 by a solicitor and non-lawyer has grown its turnover from £500,000 in year one to £7m as it expands its range of services.

Conveyancers have “a central role” in realising a digital home buying and selling process but innovation needs to happen at a greater pace, the housing minister said last week.

The Solicitors Regulation Authority has this week issued fines totalling nearly £50,000 to two law firms and a solicitor over various breaches of anti-money laundering rules.

A chartered legal executive who failed to check the identity of a walk-in client who said the firm had acted for him in the past has been rebuked by the Solicitors Regulation Authority.

Upfront information and accelerating the use of emerging technology such as AI are among the priorities that the Digital Property Market Steering Group has pledged to progress this year.

HM Land Registry is working with mortgage lenders to ensure they no longer need to chase conveyancers for updates on the progress of registration applications.

A partner who failed to conduct proper client due diligence in property transactions that had signs of money laundering has been fined £15,000.