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Showing posts from June, 2020

Nationwide Update – Release of Funds

Possibly due to the increasing trend of exchanging and completing simultaneously, Nationwide  Building Society have issue the following update to lawyers concerning fund requests: Help us to continue to help you & our members… Due to unprecedented volumes, we are implementing an earlier cut-off for same-day funds requests.  From 25/06/20 up to and including 01/07/2020, we will be unable to accept same-day requests for funds after 10 am on Lender Exchange. As a reminder, our normal practice is to release mortgage advance monies electronically via BACS transfer to your chosen bank account rather than by CHAPS. For this we require at least five working days’ notice of the completion date. If funds are required in less than five days, please see the offer special condition (Charge for transferring the loan to the conveyancer). Any requests for funds with less than 48 hours’ notice will continue to be assessed but are not guaranteed. Please continue to help us by ...

A Moment to Feel Like an Artist

In being a software architect designing products for lawyers I can't be certain that all the effort poured into a creation will be appreciated.  The same is surely true or a painter or song writer. Do they 'know' for sure what will be successful?  As a creative person it's easy to get disheartened about the lack of applause and upside immediately after you have created something. In looking to the outside world for valuation and recognition for Lexsure's products I readily admit to worrying about appreciation and validation.  Last night I received two emails in the space of half an hour concerning Lexsure's report on title technology ( e-ROT ). Here's an extract of an email trail with a lawyer after advising that her account will go live soon. No doubt she was attracted by the time saving aspects of the software:  Lawyer : WOOHOO. Right now I am just preparing a report on title and making a note of specific enqui...

Why even a prophet of doom can be comforting

[From two years ago, even more relevant right now] I’m a specialist in risk, so I can sometimes be accused of being a little conservative in outlook, even for a lawyer. But I suspect that this blog post will have some lawyers reaching for their thesaurus to find stronger words, like “worrier”, “pessimist” or even “doom-monger”. I’m sticking my neck out today to predict that within the next few years there will be a dramatic increase in lender file audits. Reaching for my own thesaurus, I’ll go for a “tsunami”. It will be destructive. Many firms will be removed from lender panels or fail to find a PI insurer, which amounts to the same thing. Once the waters recede, there will be fewer conveyancing law firms. As with the mythical Cassandra of Troy, I’m predicting that I’ll be roundly ignored and then proved right. Although unlike Cassandra, I hope to avoid insanity. And living as a king’s concubine. There are a number of reasons why lender file audits are on the increase and are...