LOCAL CONVEYANCERS NETWORK SPONSORED BY
  • Home
  • About
  • CPD Events
    • SDLT Breakfast Seminar - Plymouth 2nd April 2020
    • Cornwall Residential Conveyancing Update 15/04/2020
  • Law Plain and Simple
  • Webinars
    • Groundsure - In a world of so many commercial search reports, which one should you choose?​ - 21/04/2020
    • Groundsure - Flooding – risks, impact upon commercial properties and further assessments 18/02/2020
    • Groundsure - To sheep dip or not to sheep dip – Breaking down the risks associated with agricultural land transactions 17/03/2020
    • Groundsure - In a world of so many residential search reports, which one should you choose? 07/04/2020
    • Groundsure - A whistle-stop tour of the UK’s energy and transportation infrastructure - 19/05/2020
  • News
  • Contact
  • Resources
    • CML Question 5.4.5
    • Community Infrastructure Levy (CIL)
  • Links
  • Conveyancing Searches In A Nutshell
  • Zero to 10k in 10 Weeks

More transactions collapsed in the 3rd quarter as surveyors down-valued properties

21/9/2017

0 Comments

 
Picture
The Bank of England's 2017 Q3 summary of business conditions has commented that there were more reports of transactions falling through due to surveyors down-valuing properties, reflecting concerns about falling prices.

The report also stated that In the residential mortgage market, both lender and broker contacts reported that competition remained intense, driven by new market entrants and low funding costs. However, this competition was mainly concentrated on customers with the cleanest credit history. More customers were taking out fixed-rate deals; mortgages with longer terms, in many cases over 30 years, were becoming more popular. 

Read the full Bank of England 2017 Q3 agents summary of business conditions here



0 Comments

Law Society publish guidance on new Mortgage Credit Directive requirements.

7/3/2016

0 Comments

 
Picture
The Law Society have published new information on the changes to the Mortgage Credit Directive that must be implemented by 21st March 2016.

"The main requirements imposed on member states by the MCD ensure that:
  • mortgage firms act fairly and professionally, and that their staff have an appropriate level of knowledge and competence
  • the advertising of products is fair and not misleading, with standard information included where specific rates are being quoted
  • certain information is provided to the consumer ahead of a mortgage contract being completed
  • lenders conduct an affordability test, looking at customers’ income and expenditure, to determine whether they can afford the mortgage loan
  • minimum standards are followed where advice is provided to consumers
  • lenders put in place additional consumer safeguards where loans are in a foreign currency, to protect the customer against exchange rate risk
  • consumers are given a right to be able to exit a mortgage before it reaches the end of the term
  • lenders exercise reasonable forbearance to customers in payment difficulties before initiating repossession proceedings
  • it is easier for mortgage intermediaries to operate across borders, and
  • consumers have access to cross-border redress"

Read the full Law Society article here

0 Comments

CML Market commentary January 2016 published

21/1/2016

0 Comments

 
Picture
The Council of Mortgage lenders has publish its January Commentary....

  • The UK may not see a rate hike this year, as global uncertainties continue to have had a profound effect on interest rate expectations.
  • Our estimate is that gross mortgage lending was £19.9 billion in December, nearly a quarter higher than a year ago.
  • The pick-up in mortgage lending is becoming more broadly based, following several months of year-on-year growth in lending to first-time buyers, movers and remortgage customers.
  • The buy-to-let sector is going through an uncertain period as it is unclear how changes to the tax treatment of the sector will affect it.

Read the full CML article here


0 Comments

Gross mortgage lending up 8% in 2015 - CML

21/1/2016

0 Comments

 
Picture
The Council of Mortgage Lenders estimates that gross mortgage lending reached £19.9 billion in December.

This is 3% lower than November (£20.5 billion), but 23% higher than December 2014 (£16.2 billion).

​This brings the estimated total for the year to £220.3 billion, an 8% increase on 2014’s £203.3 billion and the highest annual gross lending figure since 2008.

Read the full CML article here

0 Comments

    RSS Feed

    Legal News

    Send your news items to james@x-presslegal.co.uk

    News Archives

    February 2020
    January 2020
    October 2019
    September 2019
    August 2019
    July 2019
    June 2018
    May 2018
    January 2018
    October 2017
    September 2017
    August 2017
    May 2017
    April 2017
    March 2017
    October 2016
    September 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015

    Categories

    All
    Accountant
    Agriculture
    Alternative Business Structure
    Alternative Dispute Resolution
    Anti Money Laundering
    Appointments
    Appreticeship
    Buildings Insurance
    Case Law
    Case Management System
    Charity
    Cilex
    CLC
    Client Account
    CML
    Commercial
    Conveyancing
    Conveyancing Association
    Conveyancing Portal
    Coodes
    Cornwall
    Council For Licensed Conveyancers
    CPD
    Credit
    Devon
    Estate Agent
    Exeter
    Falmouth
    FCA
    Flood
    FOI
    Foot Anstey
    Fracking
    Fraud
    Free2Convey
    GDPR
    George Eustice
    Golf
    Grant
    Groundsure
    ICO
    Japanese Knotweed
    Land Registry
    Law
    Law Firm
    Law Plain And Simple
    Law Society
    Lease
    Legal
    Legal Aid
    Legal Dispute
    Legal Ombudsman
    Legal Services Board
    LegalZoom
    Lender Panel
    Local Authority
    Local Conveyancers Network
    Local Land Charges
    LSB
    LSSA
    Michael Gove
    Mortgage Lender
    Mortgage Lending
    Murrell Associates
    Negligence
    New Town
    NIC
    Paralegal
    Penzance
    PII
    Planning
    Plymouth
    Practice Note
    Practicing Cetificate
    Professional Indemnity
    Property
    Restrictive Covenant
    RICS
    Rightmove
    Right To Buy
    SDLT
    Section 106 Agreements
    Sherford
    Sme
    Solicitor
    Solicitors
    Solicitors Disciplinary Tribunal
    Solicitors Qualifying Examination
    South Hams
    SRA
    State Subsidy
    Stephens Scown
    Tozers
    Trading Standards
    Truro
    Uswitch
    Veyo
    West Country
    Wollen Michelmore
    Woollcombe Yonge
    Zoopla

Proudly powered by Weebly