BREAKING PROPERTY NEWS – 17/11/2021

Estate Agent Networking Breaking News

Daily bite-sized proptech and property news in partnership with Proptech-X.

 

Is Gove helping or hindering the cladding crisis?

Michael Gove, the current Housing Secretary and Leveller in Chief has waded into the cladding debacle with his usual aplomb, halting the initiatives of his predecessor by asking questions like ‘why should leaseholders need to underpin the cost of remediation works?’

Gove has also been very verbal about “cowboy” builders who have caused the problem, and he has effectively stopped the present initiative around who should be doing what with regard to getting properties safe, inhabitable, sold, rented or bought.

The problem with Mr Gove is he is great at articulating the key problems of any matter, just as he did in previous government posts, but he then tends to helicopter out to another department leaving others to sort the details and the solutions.

In direct terms, under Gove we have seen the initiative for leaseholders to shell out tens of thousands to make good properties, and the government is also on the brink of backtracking on its consolidated advice note on properties that are not high rise. This would directly feed through to how surveyors would treat them, which in turn would impact mortgage lending all the same.

The DLUHC seems in some way to be as muddled and as opaque as its acronym. It is all very well to say we are changing direction, what Gove needs to do is outline that direction and get behind the steering wheel, as it leaves hundreds of thousands with an uncertain and potentially unsafe future.

 

Conveyancing group Simplify still grapples with IT systems blackout

It would seem that despite the heroic efforts of a number of experts, the ability for some people to transact the normal processes of conveyancing is proving difficult.

For some days, due to what has been described as a major security breach, a large volume of people in the property sector are stating that they are worried about the impact on sales that are about to exchange or have exchanged.

Simplify, which has a clutch of trading entities and a sterling reputation, has sought to pacify its affected stakeholders with communications, saying it has sufficiently restored IT systems to enable clients to move.

“The good news is that almost all contracted transactions with a fixed completion date are up to date … we have been working non-stop and have substantially increased our customer relations teams to enable us to proactively contact almost all clients who are scheduled to complete.”

The communications stated that Simplify had “several days with minimal telephone capacity, but we now have around 300 colleagues making outbound phone calls to clients and this team, who will be working full-time, into the weekend, are calling every client with an update.”

It would seem that even as of today, things are not back to normal, at a crucial time when the usual pre-Christmas rush to get deals done and all that entails.

Whilst there is no suggestion any cash or titles of properties are at risk, it is the sheer scale of the inconvenience that is proving problematic.

More so as with property chains, if one of the properties is being affected it can hold up the transaction for others in that chain.

Simplify have got a less than simple job on its hands to get things swiftly back on track.

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

small house bird box
Breaking News

UK First Time Buyers better off than many other global nations

Is it really that bad being a first-time buyer? UK better off than many other global nations when it comes to affordability The latest market analysis from Yopa, the full-service estate agents, reveals that first-time buyers (FTBs) in the UK may be paying 63% more to get a foot on the property ladder than they…
Read More
new build homes colchester essex
Breaking News

Building Safety Regulator Reform

The Government has announced reforms to the Building Safety Regulator, including leadership, process and investment. The changes are hoped to deliver 1.5 million homes. The reforms pave the way for creation of a single construction safety regulator, as recommended by the Grenfell Tower enquiry. David Smith, property litigation partner at London law firm Spector Constant…
Read More
Breaking News

New anti-money laundering rules now in effect: what landlords need to know

New anti-money laundering (AML) rules came into effect this month, marking a significant change for landlords and the lettings industry as a whole. The new rules mean financial sanctions checks are now required for all lettings, regardless of how much rent is charged. Here, Steve Bond, managing director of residential lettings for Beresfords, explains what…
Read More
Breaking News

What landlords need to know about the upcoming Renters Rights Bill

The government’s long-awaited Renters Rights Bill is one of the most significant overhauls of the private rental sector in decades. While it has not yet received royal assent, the legislation is expected to come into effect late this year, or early in 2026. With the bill moving closer to becoming law, Steven Bond, managing director…
Read More
Breaking News

Mortgage approvals bounce back in May

The latest figures show that: – Mortgage approvals on house purchases for May sat at 63,032 up 3.9% from 60,656 in April. The monthly increase seen in May marks the end of four months of previous decline, with approval levels having fallen each month since January of this year. Approvals are also 2.5% higher than…
Read More
Breaking News

Money and Credit – May 2025

Key points: Net borrowing of mortgage debt by individuals increased by £2.8 billion to £2.1 billion in May, following a large decrease in net borrowing of £13.8 billion to -£0.8 billion in April. Net mortgage approvals for house purchases increased by 2,400 to 63,000 in May. Approvals for remortgaging also increased by 6,200 to 41,500…
Read More