News – Page 4
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Implementation of the mortgage credit directive: Law Society response
The Law Society has responded to the Financial Conduct Authority’s (FCA) proposals for the implementation of the European Mortgage Credit Directive (MCD).
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Land Registry updates guidance on first registration and general vesting declaration
Land Registry has updated its guidance for conveyancers that outlines the steps to take when registering estates in land for the first time. The new edition of practice guide 1 replaces the June 2014 edition.
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Court of appeal rules trespasser can acquire title by adverse possession
The Court of Appeal has upheld ([2015] EWCA Civ 17) a first instance decision which allowed a squatter to obtain title to land by adverse possession, despite it being a criminal offence to do so.
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MPs call for Law Commission review into manorial rights
The Commons Justice Committee has called on the Law Commission to investigate whether the law relating to manorial rights needs to be reformed. MPs have recommended that landowners claiming manorial rights should no longer be able to do so through unilateral notices
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Land Registry halts plans for privatisation
The Department for Business, Innovation and Skills (BIS) has announced that it needs time for “further consideration” before pushing forward with plans for the privatisation of Land Registry.
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Original documents no longer needed by Land Registry
From 30 June, Land Registry no longer requires original documents to be sent when you apply to change the register of a registered property by post or electronically.
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Capital allowances update
Capital allowances specialist and Law Society partner, Catax Solutions, provides an update on the new capital allowances regime, five months after the changes came into force
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Law Society raises concerns over Lender Exchange
The Law Society has raised concerns over the new Santander Conveyancing Panel Portal, now known as Lender Exchange
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Land registry update
The Law Society has responded to the government’s consultation on the introduction of a Land Registry service delivery company, warning that the proposals could undermine the integrity of the register.
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New mortgage rules came into force on 26 April
Homebuyers will face tougher checks before being granted a mortgage, under the changes that came into force on 26 April, folloeing the FCA’s mortgage market review
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New capital allowances practice note
From 1 April 2014 for corporation tax payers and 6 April for income tax payers, capital allowances, which allow for tax relief for fixtures in property, must be identified and documented at the point at which commercial properties are bought or sold, or they will be lost forever. ...