Conveyancing: dual representation off the table
UK - LawGazette
Buyers and sellers will not be encouraged to use the same conveyancer as part of the government's plans to fix what it considers to be a 'broken housing market'.
However, a referral fee ban is still on the cards after a call for evidence highlighted differences of opinion on whether a ban would be beneficial.
The Ministry of Housing, Communities & Local Government floated dual representation last year. More than three-quarters of 754 respondents on this issue said there would be no advantage to buyers and sellers.
According to the ministry's response paper to the call for evidence, published yesterday, some respondents thought a single conveyancer might speed up the process. However, the advantage of fewer delays did not outweigh potential conflicts of interest. 'They felt that as the current buying process was built around the concept of Caveat Emptor (buyer beware), having a conveyancer who was clearly working for your interests was an integral part of this process. It was felt that having a conveyancer working for both sides would lead to reduction in consumer confidence, increase the risk of fraud and increase the cost of audits faced by firms,' the ministry said.
Five reasons residential property makes a great retirement investment
South Africa - Rawson
One of the biggest challenges facing South Africans at present is how to adequately prepare for retirement in our volatile and unpredictable economy.
As a result, many people are opting for more flexible investments that adapt to the ebbs and flows of the economy in order to future-proof their finances. One of the more popular of these options is buy-to-let property. Bill Rawson, Chairman of the Rawson Property Group, shares his top five reasons why.
1. It’s inflation-proof
“There are a lot of general benefits to investing in property,” says Rawson, “but when it comes to retirement, I think the most important factor is its ability to generate rental income that keeps pace with inflation.”
This, he explains, allows investors to plan a rental portfolio that provides sufficient income to support them at today’s rates and know that it will continue to support them at the same level in 10, 15 or 50 years’ time.
Call For Evidence Response: Harnessing Technology Focus
UK - Today's Conveyancer
The Government have recently published a summary of responses to last year’s Call for Evidence together with their response.
Published in November, the ‘Call for Evidence – Improving the Home Buying and Selling Process’ unsurprisingly sparked a variety of opinions being voiced across the industry.
The response to the document has now been published by the government, bringing together a summary of the feedback received as well as how the government plans to act going forward.
One of the sections within the original Call for Evidence focussed specifically on technology, inviting professionals to share their views on how it could be harnessed to improve the process.