Tag: Conveyancing Solicitors
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Accord Mortgages Solicitors Panel extended to BTL mortgages
Accord Buy to Let announced last week that it is widening its solicitor panel. The number now on their panel will be in the region of 2000 strong. Conveyancing Solicitors on the current Accord Mortgages residential panel will now be accepted for buy to let conveyancing if they possess the Conveyancing Quality Scheme (CQS) accreditation…
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Timely reminder as to concerns surrounding impact vulnerabilities and independent legal advice
Although not an English ruling, the New South Wales Court of Appeal decision of Provident Capital Ltd v Papa [2013] NSWCA provides timely guidance in relation to a Court’s position on the obligations placed on conveyancing solicitors in relation to lending practices. In their decision the court found that there had been negligence on the…
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Risk scoring the potential for Money Laundering
When it comes to assessing the risk of money laundering a conveyancing solicitor should adopt common sense approach. Risk factors tend to be cumulative, and often involves that more than one key identifier. I set out below some of the more common risk factors to consider :- Has the client dis-instructed a previous solicitor before…
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The Green Deal ; Yet another example of the 'complexity creep' in conveyancing
On Monday 28th January the government formally launched the Green Deal scheme following its inception in October 2012. The intention behind the legislation is to improve the energy efficiency of the property stock in the UK. I have been asked by a number of conveyancing solicitors about what additional responsibilities there are for conveyancers during…
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Breach of trust claims against conveyancing solicitors : A moving target
In 2013 conveyancers are likely to witness the continuing trend for lenders to embrace breach of trust arguments rather than traditional negligence claims against conveyancing lawyers. Call me a ‘conspiracy theorist’ but I suspect that this approach has something to do with lenders’ fear of their previous risky lending practices coming back to the haunt…
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When is a first-time buyer ( FTB ) not a first-time buyer?
Whist the Chancellor’s plan to scrap the stamp duty below £250,000 for first-time buyers will give the housing market a new boost, the extent of the boost will be determined by the definition of “ Fist Time Borrower”. According to HMRC in order to qualify for the stamp duty relief a buyer must not have…
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Land Registry launches consultation on e-conveyancing
Following the previous two consultation papers on e-conveyancing published in 2007, Land Registry has launched the third consultation on today. The stated aim of Land Registry’s e-conveyancing programme is to make conveyancing easier for everyone, with an electronic system that makes buying and selling property less stressful for the public, conveyancing professionals and the other…
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Is it time for the conveyancing industry to be unionised ?
How much longer can conveyancing solicitors accept being at the bottom of the legal food chain, with all the responsibility and risk involved. Conveyancers would be forgiven for having a persecution complex having recently come under attack from insurers and lenders. Add to the mix the threat of “ “Tesco Law”. Whilst there has not…
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Conveyanacers Beware – Property Fraud likely to top £1b in 2010
Approximately £1 billion a year is predicted by the National Fraud Association to be lost through mortgage fraud. Since the onset of the recession, mortgage lenders have gone to greater lengths to combat fraud and protect their businesses (partly driven by their insurers). For example, with sub-prime, buy to let and self-certified mortgages proving to…
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Conveyancing Explained – The Evolution of Defective Title Insurance
In today’s conveyancing market, Defective Title indemnity insurance policies are increasingly being used to enable conveyancing to proceed where the defect threatens the transaction. Title Insurance responds to the issues created by defective title in a number of ways, including • Underwriting the legal cost of responding to a challenge over the owner/mortgagee /insured’s right…