Property
Incorrect precedent led to wrong ground rent advice for 115 clients
A solicitor who gave 115 clients the wrong advice about the ground rent provisions in the leases of properties they were buying – because of an incorrect precedent – has been fined £15,000.
Exclusive: PE-backed conveyancer puts acquisitions on hold
One of the country’s largest conveyancing firms, O’Neill Patient, has “changed direction” and put acquisitions on hold in the wake of the pandemic and conveyancing boom.
First fully automated matter heralds new approach to remortgage work
The first ever automated remortgage has been completed by a new system that also picks out those remortgage matters that require legal advice.
PEXA makes statement by buying property law firm Optima from Capita
Property Exchange Australia (PEXA), which processes 80% of conveyancing completions in Australia, is to acquire specialist property law firm Optima Legal from listed company Capita.
Up to 70% of land register updates to be automated by 2025
Up to seven out of ten updates to the land register will be automated by March 2025, HM Land Registry has predicted, as it pledged to promote “a secure and inclusive digital system of conveyancing”.
Biggest conveyancing firms grab market share as ‘dabblers’ start to exit
The number of active conveyancing firms has begun to shrink again after last year’s boom, with the biggest practices increasing their market share, new research has found.
Conveyancers “have duty to advise clients on climate risk” to properties
There is a “growing body of opinion” that conveyancers have a duty of care to advise clients on the risks climate change represents to property, it was claimed today.
New conveyancing ABS using chatbot to cut transaction times
A conveyancing alternative business structure launched last month aims to cut transaction times by at least a month, using a chatbot to help clients complete a seller’s pack.
CMA orders break-up of property search giant
The merger of two of the four big property search providers “substantially lessens competition”, the Competition and Markets Authority has decided, ordering Dye & Durham to sell TM Group.
Handy new checklist for lease extensions (surrender and regrants)
At-a-glance guide for conveyancers to help with lease extension applications where the existing lease is being surrendered and a new lease granted
Estate agents need “more respect” from conveyancers
Nearly four in ten estate agents (39%) believe that greater “mutual respect” would most improve their relationship with conveyancers, but lawyers would prefer to see a focus on better collaboration.
Stamp duty holiday sparks 85% surge in Land Registry complaints
HM Land Registry was hit by a surge of 85% in complaints over the past year in the wake of the property boom sparked by the stamp duty holiday, its annual report has revealed.
Take advantage of upfront information reform, conveyancers urged
Conveyancers have been urged to embrace the opportunities offered by new rules on the information that must be included in property listings.
Estate agents “discriminating” because of conveyancers’ referral fees
There are “too many instances” of estate agents only allowing potential buyers to view a property or make an offer if they use a recommended conveyancer and other service providers.
Solicitor who let one mistake “snowball” fined by tribunal
A solicitor who let one mistake on a property sale snowball so that it affected multiple transactions in a portfolio has been fined £10,000 – even though he preferred to be struck off.