HSBC Introduces Independent Advice Requirements for ‘Unequal’ Borrowers (IC)
In a recent change to their CML Handbook Part 2 requirements, HSBC have imposed new obligations on their conveyancing panel when it comes to advising joint borrowers.
CLC Business Plan for 2017 and Annual Regulatory Return Analysis Published (IC)
The CLC has published two documents that will underpin its work in 2017 and beyond: the Annual Regulatory Return Analysis 2016 and its business plan for 2017.
Don’t doubt value of money laundering prevention (TC)
Due to conveyancing transactions usually being of high value as well as their ability to take place without raising suspicion, they are a favoured method of laundering money.
Original documents no longer needed for first registration lodgements (TC)
Conveyancers can now lodge first registration applications without the need for original deeds and documents being sent.
Firm warns of “wave of litigation” against new-build conveyancers (EAT)
A firm is warning of “a wave of litigation from home owners who were given inadequate advice from their solicitors or valuers.”
Sales to First Time Buyers at Highest Level on Record (IC)
A third of sales in October were made to first time buyers.
ABS “engenders more entrepreneurialism” among conveyancers (LF)
Alternative business structures are far more likely to invest in their businesses than non-ABSs, research in the licensed conveyancer community has suggested.
Leasehold group wants conveyancers’ home moving reforms to go further (EAT)
Leaseholds Solution – the company behind the Association of Leasehold Enfranchisement Practitioners – says it wants recent proposals to modernise the home moving process to go further.
Japanese Knotweed : Knot Disclosing to Lenders (IC)
Three lenders followed HSBC’s lead in using the CML Handbook Part 2 to set out their conveyancing instructions relating to Japanese Knotweed.
Proposed rules for Lifetime ISA published by FCA (TC)
The proposed approach to regulating the promotion and distribution of the Lifetime ISA (LISA) has been announced by the Financial Conduct Authority.
SRA seeks help to encourage legal comparison websites (LF)
The Solicitors Regulation Authority has asked the Competition and Markets Authority for advice on how it could stimulate more use of comparison websites in the legal market.
Stockport identity fraud victim’s £500k home put on market
An identity fraud victim has described the horror of discovering his £500,000 home up for sale on a property website.