Hackney has become the first local authority to announce that searches will now miss the stamp duty holiday deadline. As a result of a cyber attack which has left the council unable to process searches, Hackney recommend indemnity insurance as the only way to ensure completion before the 31st March 2021 deadline. The latest update on their website has been reproduced below:

Land searches and planning applications
“The systems that the Council uses to process new planning applications and the land searches needed for property sales are affected.

“We are hoping to offer a partial land search service in the coming weeks, but we don’t expect to be able to offer full land searches to any resident before the end of the stamp duty holiday. We are therefore advising residents who need to complete a property purchase to speak to their lender or mortgage broker about taking out indemnity insurance. We will be contacting current applicants next week to tell them which elements of the land search we will be able to complete.”

At OneSearch, we can support you with OneSearch Express, our indemnity policy which provides a data-rich alternative to standard No-Search Insurance, as it also includes a comprehensive report pertinent to a client’s property. Typically returned in just 2-5 working days, Express provides the majority of data (over 70%) that you would typically obtain from local authorities, meaning you and your client can complete quickly, and with more confidence.

Our clients have been using Express since 2015 for instances where search delays have put transactions at risk of collapse, and our claims record is exemplary: there are no claims resulting from our Express searches. This is due to the accuracy of our data, and triple quality check methodology. No other company exists with our dataset, comprised of real-time and historical CON29 data.

Click here to download sample report

 

Express provides cover up to £1m (£2m for commercial) in place of the following searches which are increasingly causing unacceptable hold ups:

  • A Search of the Local Land Charges Register form LLC1 
  • A Search of CON29R and/or CON29O records 
  • A Search of Water and Drainage records on CON29DW
  • A search of the Coal Authority’s records on form CON29M
  • An environmental risk assessment (excludes Commercial Express)
  • A full Chancel Repair Liability search

The Express report includes over 80 data points, including (but not limited to):

  • Road, Rail and Traffic Schemes
  • Planning applications and Local Development Plan policies
  • CIL question 3.10a
  • Building Works, Environment, Health & Safety, Housing, Highways and Public Health
  • Enforcement Notices, Stop Notices, TPOs, Listed Building Repairs etc.
  • Conservation Areas (proposed or pre 1974)
  • Compulsory Purchase

Express allows you to transact with the most data currently available, and lets you tie matters up swiftly and get on with your next case.

Click here to download sample report

Today’s Conveyancer has published an article today on the cyber attack on Hackney Council, which has brought the local housing market to a near stand still as the council recovers from the impact of having its systems severely disrupted.

Our MD, Liz Jarvis, comments:

“At the moment our current turnaround for Hackney regulated searches is 55 days, however, as there’s still no update on when Hackney will resume searches, we anticipate this may rise. This has clearly been a severe cyber-attack, but they’ve been able to mitigate the wider human impact by setting up new services quickly using cloud services, for things like benefits payments, safeguarding referrals and establishing a system to pay for free school meals over the half term.

“We can only hope they adopt the same quick thinking and use of technology to create a more robust system for returning searches, instead of reverting to a vulnerable system that’s proving quite so difficult to restore. In the meantime, we are working closely with all local authorities to achieve the quickest turnaround times, and the latest updates can be found on the  regulated searches turnaround table on our website.”

Read the full article here.

We are reaching out to the wider property community to create a unified resource in managing homebuyer expectations during COVID-19. This is in response to reports of increasing levels of abuse towards conveyancers and other stakeholders within the housing industry.

Elizabeth Jarvis, Managing Director, OneSearch Direct, comments:

“As a search provider, we’re concerned about the situation unfolding. Turnaround times for regulated local searches are increasing daily, with Harrogate currently taking 100 days, South Cambridge District Council 75 days, and Thanet taking 40 days (as of 15th Nov 2020). There are many reasons why delays are increasing; detailed further in our daily turnaround table, and these bottlenecks are building more pressure by the day. Volumes have risen, but the resources necessary for councils to facilitate them have not. The situation is untenable and there needs to be a solution now.

“Unfortunately the disparity over how each council operates is a longstanding issue, magnified by this pandemic. The lack of uniformity in processing search requests has a lot to do with why some councils take 3 days and others 45. This is not a criticism of the councils, as we maintain excellent relationships with them and feel their pain too. No one is immune from strained resources today. My comment is more an indictment of the neglect to future-proof such a vital part of the property chain. Of course, nobody could prepare for COVID, and we know current volumes are not permanent, but the way we react now will have a lasting impact.

“We know searches are only one part of the wider picture. As we are similarly beholden to service levels outside of our own remit, we empathise with those in the same boat. What is happening now is nobody’s fault. The focus, in my opinion, needs to shift from one of blame, to one of creating solutions.”

As reported in Today’s Conveyancer last week, conveyancers are working excessive hours to the detriment of their physical and mental wellbeing, mostly to maintain their normal standard of service. In our latest newsletter, we asked subscribers to share their views on this topic. Jacqueline Emmerson, Managing Director and Solicitor from Emmersons Solicitors, said her staff had been subjected to abuse for months, including posting libelous comments on social media. One angry client even entered the law firm’s office, which was closed to the public, and shouted at staff whilst not wearing a mask, putting them all at potential risk of COVID. Jacqueline said, “clients seem to have lost all sense of politeness and kindness.”

Lidia Quinlan, Head of Sales, OneSearch Direct, comments:

“When we read comments like these, we are obviously horrified. COVID has brought out the best in a lot of people, but it’s also unfortunately brought out the worst in others. We’re hearing of more and more conveyancers being subjected to verbal and online abuse, which is obviously unacceptable. It beggars belief that frustrations are being directed toward those working tirelessly to secure the biggest investment most of us will ever make.

“There is no point blaming lenders, estate agents, conveyancers, search providers, surveyors, vendors, because at the end of the day all hands are tied by some obstacle. Any hostility in our industry is misplaced and wasting effort that could otherwise focus on finding a solution. There is no doubt that the home buying and selling process needs review, but what we need right now is an immediate fix. What can we do now to stall this rise in fall-throughs?

“When it comes to searches, the ways we’ve been stemming the flow are threefold. We can obtain information for an additional cost from local authorities to reduce regulated local search turnaround times. We are also offering search delay insurance to allow conveyancers to transact with protection from financial loss, for the duration between the search being applied for and returned. We’ve also been offering our Express indemnity policy for times when transactions are at real risk of collapse.

“What we’d most like to achieve right now, though, is to manage everyone’s expectations. Not just our clients but their clients too. Our extended turnaround table for regulated local authority searches is updated daily and can be accessed freely by conveyancers and their clients alike. We are also working with firms around how best to communicate changes with an informative resource. This will be a brief and simplified explanation of why homebuying is taking so long at the moment, and we invite anyone in the industry to share it, to educate the anxious homebuyer and set clear expectations.”

This is a breathing document, so we invite others from the industry to add their views by emailing digitalmarketing@onesearchdirect.co.uk. The more rounded the picture, the higher the hope of tempering flames.

Join the debate: How will the Government overhaul affect property professionals in England?

We would like to invite you to an online event to discuss the Planning for the Future Consultation, where we will examine the impact of the proposed changes, and the potential opportunities and risks.

Our very own Managing Director, Liz Jarvis, joins other experts from government and industry to discuss the proposed reforms to the planning system across England.

When: Tuesday 6th October

What time: 9.45 am – 12:15 pm

Click here to register for this free event

This event, hosted by Alex Wrottesley, Managing Director (Environment & Mapping), Landmark Information, will cover how the proposals plan to reform the planning system by discussing:

  • Potential impacts on the entire land and property sector
  • The role of technology in streamlining and modernising planning
  • How property professionals can benefit from the proposals
  • Sustainable design and the reallocation of land use

The agenda is as follows:

09:45                   Networking 

10:00                   Welcome from Alex Wrottesley, Landmark

10:05                   Introduction from Simon Brown, CEO, Landmark Information Group

10:15                   The Government View

      • Presentation from Paul Maltby, Chief Digital Officer, Ministry of Housing, Communities and Local Government
      • Conversation with Leonore Schick, Legal and Professional Reporter, Property Week

10:35                   The View from the Data Users

      • Presentation from Helen Dias, Technical Director – Strategic Planning, Atkins
      • Conversation with Denise McKenzie, Chair of the Board of Directors, AGI

10:55                   Questions from the audience

11:05                   How can we assess the impact on the sector? What are the opportunities and risks?

            Panel Conversation chaired by Tony Mulhall, Associate Director Land Professional Group, RICS

      • Neil Ackroyd, Director of Digital and Data, BRE
      • Liz Jarvis, Managing Director, OneSearch Direct
      • Stuart Baillie, Head of Planning, Knight Frank
      • Hannah Prideaux, Investment Manager, M7 Structura
      • Paul Nathanail, Technical Director, GHD

11:50                  Questions from the audience

12:00                  Networking

We believe this is going to be an important discussion that has the potential to produce real change within the industry at this key stage in its restructuring.

Make the most of it by arriving early and bringing your questions for the experts to discuss, answer and take forward.

Click here to register for this free event

Last year it was reported that the Bank of Mum and Dad (BoMaD) had become the 11th biggest mortgage lender in the UK, with family using cash savings or equity release to the tune of £6.3 billion to get their loved ones onto (or up) the property ladder.

In the last few weeks, however, Nationwide and Lloyds have clamped down on BoMaD contributions as a result of financial uncertainty caused by COVID-19, stipulating that no more than 25% of a mortgage deposit could be gifted. These stricter rules, coupled with a significant reduction in 90% mortgage deals on offer (46 compared to 758 this time last year), is a blow for first-time buyers, especially as the UK plunges into worst recession of any major economy.

All is not lost
These restrictions are paving the way for Shared Ownership, an increasingly mainstream housing scheme which offers an affordable route to home ownership for those otherwise unable to purchase on the open market. It’s also becoming a popular option for investors and house builders alike, and contributing to the Government’s aim of delivering 300,000 new homes per year.

A recent spotlight on Shared Ownership by Savilles states: 

“Once Help to Buy ends, as Government states it will in 2023, Shared Ownership will become the main route to home ownership for those unable to access the market. This could increase demand for Shared Ownership homes by over 15,000 homes per year.”

We’ve identified an increase in Shared Ownership transactions within our own client base, and have expanded our Express range to accommodate this. In partnership with leading legal indemnity insurance broker Northcott Beaton, we created Express to provide a data-rich alternative to standard No-Search Insurance, as it also offers an additional comprehensive report pertinent to a client’s property.

With cover of up to £1 million (£2 million for Commercial), Express is typically returned in just 24 hours. Express is well suited for Shared Ownership, especially for New Build where exchange is typically required within 28 days of the purchase being agreed. 

Don’t fall down the rabbit hole
Our clients already have their hands full with extra leasehold matters concerning Shared Ownership. Express helps to help ensure transactions don’t get side tracked with lengthy investigations when time is of the essence, whilst still being able to demonstrate a duty of care to their own clients (and lenders) by providing information to the best of their ability.

 

Express provides cover in place of the following searches, which can often cause unacceptable hold ups:
  • A Search of the Local Land Charges Register form LLC1 
  • A Search of CON29R and/or CON29O records 
  • A Search of Water and Drainage records on CON29DW
  • A search of the Coal Authority’s records on form CON29M
  • An environmental risk assessment (excludes Commercial Express)
  • A full Chancel Repair Liability search
With over 80 data points, the additional data report includes:
  • Road, Rail and Traffic Schemes
  • Planning applications and Local Development Plan policies
  • CIL question 3.10a
  • Building Works, Environment, Health & Safety, Housing, Highways and Public Health
  • Enforcement Notices, Stop Notices, TPOs, Listed Building Repairs etc.
  • Conservation Areas (proposed or pre 1974)
  • Compulsory Purchase

Our clients have been relying on Express since 2015 for instances when even an expedited search isn’t fast enough

If searches are causing unacceptable delays and the transaction is at risk of collapse…
Express gives you the best of both worlds. You have all the security of a No-Search Insurance policy, with the majority of data (over 70%) that you would typically obtain from local authorities. Express means that you and your client can complete quickly, and with more confidence.

Download a sample report to see how it can help your firm

Express allows conveyancers to transact quickly in the following sectors:

 

 

To find out more about OneSearch Express, call the Service Introduction Team on 01782 433 270 or email intro@onesearchdirect.co.uk.

Today, we have released findings from our industry-wide survey of conveyancers. The survey looks at attitudes towards search providers and perception of value added services. It also explores continuing competency behaviours and gauged sentiment towards industry hot topics, such as cybercrime, anti-money laundering and PropTech. 

Download the report here.

The results are fascinating. Although many of the answers are in line with what we were expecting, the survey sheds light on insights that may not have been otherwise obvious. 
 
Key findings:

  • When asked to prioritise eight options on what respondents looked for in a search provider, surprisingly cost came in fourth place, with lawyers instead ranking data accuracy, quick turnaround times and an easy-to-use ordering platform above price. Lead generation was the lowest ranked option.
  • When considering issues facing conveyancers, cybercrime/ID theft was identified as the biggest concern with 83% of respondents stating they are either “concerned” or “very concerned”. 80% responded similarly regarding money laundering/corruption
  • 52% stated they are “very concerned” about SRA rules
  • Fewer were as concerned about the AI/PropTech ‘knowledge’ gap, with only 17.3% suggesting that they are ‘very concerned’ about this issue
  • A growing number of lawyers (28%) are now using search providers’ technology to generate client quotes 
  • Environmental reports and Drainage and Watersearch reports both topped the list of products ordered via their search providers (confirmed by 95%). AML, ID checks and indemnity policies are ordered by more than a third (37.5%) of respondents

We’re pleased to see turnaround times for search providers came out as one of the key requirements, well over price. From our perspective, we excel here and receive positive customer feedback on our response rates.

The disparity around case management is interesting. What are your thoughts on this? We’d like to continue this conversation, if you would like to direct your opinions to cnoblehyland@onesearchdirect.co.uk.

We’re especially glad data accuracy scored so highly, as it has been fundamental to our business growth, and so we can alleviate this particular concern for you, the conveyancer.

Download the report here.

If you have any questions, please get in touch with your Regional Manager, or call us on 01782 433270and we will be more than happy to assist you.