Regulation & Law
News articles looking at national legislation and local regulation and the application of law to the residential property industry.
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Should tech take over conveyancing? Have your say before it changes for good!
Moving home is moving rapidly towards a digital future and one of the ‘casualties’ of this upheaval will be the conveyancing solicitor, whose job is to change radically in the coming months and years. Regulator the Council for Licensed Conveyancers (CLC) says the biggest shift will be away from pushing forward a sale, and instead focussing on charging clients for advice. It also predicts that review websites like Trustpilot will soon play a greater role in soliciting instruction from home movers. “Technology will radically improve transparency for consumers about what they are buying and the progress of their transaction,” the report says. “Because of the Internet of Things, properties will maintain up-to-date logbooks with little human intervention.” HIPS again? The regulator also says giving upfront information about a property at the point of marketing – rather than waiting until later – will be key. The CLC’s new paper on the future of industry traces how the conveyancing process will change, highlighting questions that regulators, lawyers, estate agents, lenders, technologists and others – will have to grapple with. Chair of the CLC Dame Janet Paraskeva (left), says: “I think many lawyers will be heartened by the prediction that there will be…
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Investigation shines light on ‘appalling’ examples of quick-sale sector exploitation
Trading standards has told the BBC that it is extremely concerned by the ‘quick sale’ sector of the estate agency industry.
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Latest: Shocking details of Berkshire agents cartel case laid bare
The detailed discussions between the four estate agents involved in the Berkshire cartel case have been published by the Competition and Markets Authority (CMA), along with shocking evidence given by the individuals involved. These are largely emails sent between people working at Michael Hardy, Prospect, Richard Worth and a branch of Romans and are the lion’s share of the evidence gathered by the CMA to come to its decision on the cartel case. The discussions took place between September 2008 and May 2015 and were part of a ‘concerted effort’ to fix and maintain a level of commission fees for property sales in five areas. These were Wokingham, Winnersh, Crowthorne, Bracknell and Warfield. The combined £605,519 fines levied on three of the companies, Michael Hardy, Prospect and Richard Worth were revealed in December following a year-long investigation. Highlights of the report include inconsistencies in the evidence given by a Romans director during two interviews, who was also accused during the investigation of not cooperating with the CMA during it early stages. A director of Richard Worth initially refused to be interviewed but later relented. The cartel was prompted largely by the severe downturn in the economy and property market created…
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Estate agency fined £24,000 after failing to place deposits with approved schemes
Multi-branch estate agency in the Wirral admitted not following the law on deposits as well as four other offences including unfair trading.
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Legal firm reveals trail of horror left by ‘worst rogue tenant ever’
Legal4Landlords says it has helped a landlord battle a rogue tenant who took seven months to evict and still owes £6,250 in back rent.
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Family of tragic former soldier calls for ‘property investment’ course regulation
Danny Butcher took his own life after spending £13,000 on a property investment course and his father now says action must be taken.
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Council ‘war’ on HMOs continues with two more extended schemes
Councillors in Brighton and Wigan have voted through 'article four direction' restrictions for smaller HMOs housing three or fewer unrelated people.
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Suzy Lamplugh Trust wins Home Office action on stalking
The Suzy Lamplugh Trust has welcomed Home Office proposals to protect the victims of stalking after the charity played a key role in framing the new banning orders. From January 20th the police will be able to secure Stalking Protection Orders (SPOs) to ban pursuers from approaching or contacting their victims or visiting their home or where they work or study. “I am determined that we do everything we can to better protect victims and new SPOs will help the police to intervene and take action against perpetrators at the earliest opportunity,” says Victoria Atkins, Minister for Safeguarding and Vulnerability. Suky Bhaker (left), acting chief executive of the Suzy Lamplugh Trust – which is named after the 25-year-old estate agent who went missing in 1986 and is presumed murdered, said: “Today is an important step forward in the way stalking is handled in England and Wales and an acknowledgement of the suffering victims of stalking can face. “We welcome the introduction of Stalking Protection Orders and hope to see the new order complement the existing legislation to ensure that victims receive a proactive response when they come forward and report stalking.” The Suzy Lamplugh Trust was set up by the…
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Ministers ‘not listening’ on perfect storm facing high street estate agents
ARLA and the NAEA Propertymark have written a uncharacteristically blunt joint letter to business minister Andrea Leadsom warning that business rates are driving estate agents off the high street and helping reduce employment within the sector. Signed by both David Cox and Mark Hayward, the letter reflects the growing anger within the industry that the government is unaware of the perfect storm being faced by high street agents. This includes being charged higher business rates than retail premises because agents’ branches are considered offices rather than shops; and facing both increased costs created by additional regulation and competition from online agents, who utilise home-based representatives rather than office staff. “One of our members has told us that the amount they pay in business rates is greater than the annual profit made in a year,” the letter says. Fewer jobs It also suggests that this cost is beginning to impact employment levels; 3,000 fewer people were working within the sales and lettings sectors last year than compared with 2017, Propertymark claims. The letter also points out that while agents support the government’s recent investment in towns and communities and Boris’s electoral commitment to ‘thriving high streets’, the cost of business…
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Two jailed for £1m property fraud
A pair of fraudsters who bought and sold over 50 properties but failed to pay nearly £1 million in tax, have been jailed for more than eight years.
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