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‘Clearing bank’ – definition

In November 2017, the Bank of England took over direct delivery of CHAPS. Accordingly, it became necessary to change the definition of ‘clearing bank’ in the Standard Commercial Property Conditions and the Standard Conditions of Sale.

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Management companies – restrictions

Do management company restrictions achieve any real purpose?

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Electronic search fees – VAT

The Law Society wants to hear from conveyancers who have been contacted by HMRC about the recovery of VAT on electronic property searches.

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SDLT – 14 days

From 1 March 2018, SDLT returns will need to be filed – and any SDLT paid – within 14 days (not 30 days).

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SDLT – Wales

In his November 2017 Budget, the Chancellor abolished SDLT for first-time buyers on purchases up to £300,000 (and also introduced a tax saving of up to £5,000 for £300,000-£500,000 first-time buyers).

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Land Registry – prioritise applications

The LR has amended PG 19 to clarify the need to prioritise the order of applications when registering a restriction.

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CHAPS – standard conditions

A reminder that CHAPS is no longer provided by the CHAPS Clearing Company Limited. Instead, it is now operated by the Bank of England (from 13 November 2017).

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Charge – discharged in error?

What happens when a bank discharges its charge in error? In practical terms, there are unlikely to be problems in getting the register altered so as to reinstate the mortgage. But, will this be a rectification of the register, or a mere alteration of the register?

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Japanese knotweed – ‘new build’ risk

There has been much publicity about Japanese knotweed this year, largely as a result of an important county court decision which held Network Rail liable after Japanese knotweed grew close to neighbouring terraced houses. The owners of those properties had been ‘trapped’ by knowledge of knotweed, and could not sell because banks and mortgagees would not grant mortgages on the affected properties. It was held that Network Rail was liable in private nuisance and had to pay damages (including diminution in value of the homes). See our April 2017 issue, p19.

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Most-read articles

Trustees – duty to beneficiaries
Wednesday, 11 July 2018
Trustees cannot simply ignore beneficiaries’ request for information about a trust, the High Court has held. In this case, the trust property was a farm outside Cardiff. Read more...
Conveyancing searches – disbursements?
Wednesday, 11 July 2018
Should electronic property searches be treated as disbursements for VAT purposes? Alternatively, are they part of the legal service provided, and so subject to VAT? Read more...
Professional – update
Wednesday, 11 July 2018
From December 2018 there will be new rules requiring firms to publish prices for conveyancing, probate, motoring offences and immigration, as well as the price for bringing ET claims.  Read more...
Service mistake – discretion?
Wednesday, 11 July 2018
To what extent do you have a duty to point out the other side’s procedural errors (as part of your obligation to comply with the ‘overriding objective’)? Read more...
Exiting the Portal – reasonable
Wednesday, 11 July 2018
Insurers should be very careful about making allegations (for instance, at Stage 2 of the EL/PL Protocol), especially if they could be interpreted as allegations of ‘dishonesty’. Read more...
Airbnb – breach of lease
Wednesday, 11 July 2018
It now seems clear that an Airbnb short let will be in breach of a typical long lease. Read more...
GDPR – data rooms
Wednesday, 11 July 2018
If L is planning to sell a property subject to leases, then almost certainly a data room will be set up containing all relevant documents. Read more...
Rights of way – public
Wednesday, 11 July 2018
There are four categories of public rights of way: Read more...
Financial remedies – company assets
Wednesday, 11 July 2018
A recent ruling illustrates when a court can treat a company-owned asset as as a matrimonial asset. Read more...
GDPR – references
Wednesday, 11 July 2018
GDPR impacts on the giving of references: Read more...

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