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Showing posts from May, 2015

We need to do more to protect our clients money

The recent report of a significant loss suffered by a client following the interception of an email by a gang of fraudsters has sparked a debate about the suitability or otherwise of communicating with a client via email especially as regards the exchange of financial information. 
Mr and Mrs  Lupton sold a fla for £340,000. Two days before the set completion date of February 27, Mr Lupton’s solicitor, Perry Hay & Co in Richmond, Surrey, emailed him requesting his bank account details for the sale proceeds to be paid into.
Mr Luton replies and unfortunately for all concerned the email was intercepted by fraudsters.
Posing as Mr Lupton, the fraudsters emailed Perry Hay & Co again instructing them to disregard the previous details and send the money to a different account instead.
The sale completed and following the discovery of the fraud the account was frozen and £271,000 was returned to the Luptons but the balance of £62,000 had already  been withdrawn by the fraudsters. 

How will the outcome of the 2015 General Election affect the new build market?

The question of whether we will be living under a red or blue, or a mixture of both, Government will soon be known.  How this will affect the new build market is also unknown and has created some uncertainty.
So what is likely to happen going forward, depending of course, on who lands up as the governing force.
The Conservative Party has committed to build 200,000 starter homes (built for first time buyers aged under 40 with a 20% discount) and 275,000 affordable homes by 2020.  Relatively small numbers and it is no clear whether the latter is in addition to the 200,000 starter homes.  The Labour Party is also looking to build a similar number of starter homes by 2020 and has committed to the establishment of a Future Homes Fund for investment in increasing housing supply.
It has similarities with the Liberal Democrats idea of a Government backed Housing Investment Bank to provide long term capital for major new settlements and to help attract finance. The new home start figure for th…