BREAKING NEWS – top 5 stories 24/06/2021

June 24, 2021
Estate Agent Networking Breaking News

CMA TURNS UP THE HEAT ON NEW HOME LEASEHOLD SCANDAL

After two years of setting up an investigation, where the CMA (competitions and Marketing Authority) looked closely into the widespread practice of making some new homes subject to a leasehold agreement, where charges could be racked up, making some properties unsaleable, and owners facing huge bills they had not expected – Persimmon has now broken cover and said it will remedy the situation.

It will allow buyers to have the option to buy the leasehold interest, so they are in charge, and remove clauses that are considered unfair. The CMA has made it clear that is other NHB do not fall in line they can expect to be prosecuted.

Many buyers bought properties, oblivious to what the leasehold provision tied them into, and many of the freeholders became freeholders to the leases as they were a good financial return. I wonder if the solicitors who did the original conveyancing will get caught up in this debacle.

CRM REAPIT BEGINS JOINT CONVEYANCING TRIAL WITH LAW SOCIETY

Mighty Reapit with CCO Paul Starkey, are starting a test phase of the use of the Law society’s new baby the TA6 Part 1 transaction form. This follows government thinking that buyer’s should have a deeper knowledge of property upfront. It remains to be seen how my little estate agent brethren will take to it.

8TH JULY – YOTI HOST TECHNOLOGY TRENDS AND STRATEGY IN THE PROPERTY SECTOR

Soon YOTI will be hosting a Webinar outlining where the property industry is going, the CEO Robin Tombs, and Real estate Technology luminary Gary Barker will be there, with myself, it will be a really useful insight into what is going on. Insight, humour and all your friends, see you there.

To listen in between 11 and 12 – on the 8th of July –

https://zoom.us/webinar/register/4116233108572/WN_Vv8AVhq_Qc-zZSLNLjsklw

PETER EVERETT LEAVES OFFR AND NOW IS TO BE COMMERCIAL DIRECTOR AT YOPA

YOPA is looking to beef up its ability to grow, with the news that ex-Offr man Peter Everett is going to be heading up their strategy. Previously Peter was at Hamptons for a long period.

INSTRUCTIONS DOWN BY 25%

In the latest analysis of homes coming to the market, comparing the same period, instructions are down by 25%, this may be the Euros, end of stamp duty holiday, or holidays themselves, but at this rate a slowing of new stock to the market, traditional in late July, might mean that the steam is at last coming out of the market.

Andrew Stanton

CEO & Founder Proptech-PR. Proptech Real Estate Influencer, Executive Editor of Estate Agent Networking. Leading PR consultancy in Proptech & Real Estate.

You May Also Enjoy

Estate Agent Talk

Buying Alone? What Solo Buyers Need to Know Before Making an Offer on a House

Figures show that solo buyers accounted for 36.9% of Barclays’ mortgage completions in June 2026, as more people chose to step onto the property ladder without a partner beside them. Choosing independence over waiting for a joint purchase has doubled over the last 50+ years, with solo first-time buyers doubling from 15% before 1980 to…
Read More →
Estate Agent Talk

How to Make a New-Build Living Room Feel Less Like a Show Home

An empty new-build living room can be surprisingly difficult to furnish. The walls are freshly painted, the sockets are in place, and there is nothing to remove before decorating begins. Yet once the sofa arrives, the room can still feel unsettled: too bare in some places, awkwardly crowded in others. The answer rarely involves buying…
Read More →
Breaking News

Mortgage Borrowing Dip

Key points: Net borrowing of mortgage debt by individuals decreased to £3.9 billion in September, from £4.2 billion in August, below the previous 6-month average of £4.9 billion. Net mortgage approvals for house purchases decreased to 53,400 in September, below an average of around 58,800 over the previous 6-months. Approvals for remortgaging increased to 42,600…
Read More →
Breaking News

Autumn Budget 2026: Property industry reaction

Following today’s Autumn Budget, reaction from property industry experts on six key areas for the property market. First-time buyer support: The £4.7bn Your First Home equity loan scheme, supporting 70,000 buyers, alongside the introduction of a new First Time Buyer ISA. Inflation and borrowing costs: The extension of the fuel duty freeze, household energy support…
Read More →
Breaking News

Can you legally BAN Halloween Trick or Treaters?

People who dread the annual knock of trick-or-treaters may have more power to keep Halloween callers away than they realise. As millions of children prepare to take to the streets on October 31, a property law expert has explained what homeowners can do if they do not want strangers walking up their path or knocking…
Read More →
Estate Agent Talk

What the sector need to do differently to give first time buyers a chance

By Peter Hawley, Director, SOWN (part of LRG) The mortgage and property sector needs to stop assuming that younger buyers are either ready to buy outright or not ready at all. For many, the reality is somewhere in between. They may have stable employment, a deposit and a strong desire to own, but still find…
Read More →