Residential Conveyancing News & Insights

The legal side of buying a home, step by step — what your solicitor does, searches, surveys, enquiries, exchange, completion and what you pay for.

GAD’s own conveyancing specialists contributed to the discussion in the article, offering insight into how these market shifts are playing out on the ground.

The latest Bank of England data on mortgage approvals and lending highlights a market that remains stable despite ongoing economic pressures. According to property industry propertyindustryeye.com, net mortgage approvals for house purchases remained steady at 66,200 in January, showing only a minor decline from December. Additionally, net mortgage borrowing increased by £0.9bn, suggesting that while affordability remains a challenge, buyer demand is still present.

The Law Society is making the case for revisions to stringent building safety regulations that are a burden and expensive for residential conveyancers.

With houses converted into flats on long leases, it is common for the flat owners to also have a share of the freehold. This is typically because the owner, when the property was a house, would have extracted most of the value of the property by converting into flats. Selling those and retaining the freehold only has residual value and comes with ongoing hassle.

What is a sinking fund? A sinking fund is an amount of money which is set aside to cover any major work which is needed on a property in the future.

Following his anything-but mini-Budget, householders are still coming to terms with the whirlwind of announcements by Chancellor Kwasi Kwarteng and what effect they will have on the UK housing market.