Solicitors and conveyancers predict a busier market in 2016

In a survey conducted by Searches UK in December 2015, solicitors and conveyancers predicted a busier market in 2016, with even more transactions expected to complete.

Due, in part, to the imminent increase in stamp duty for buy-to-let properties set for April 2016, 46 per cent of solicitors and conveyancers believed the market would become busier, with landlords rushing property transactions through to avoid high taxation charges.

A number of government incentives that have been initiated to tackle the country's housing crises are also expected to play a role in increased activity.

Meanwhile, mortgage approvals for house purchases continue to rise, and with interest rates expected to remain low for the foreseeable future, feedback from the survey suggests that this is an ideal time for first-time buyers to enter the market, particularly with assistance from the Help to Buy scheme.

Lisa Summerton, the sales and marketing director at Searches UK, said: 'It is very encouraging to see so many solicitors and conveyancers predicting a busier market in 2016, and it is now more important than ever to choose a reliable and dedicated search provider that is able to competently withstand the amount of work being processed through an innovative and easy-to-use online ordering platform. Speed and efficiency is always appreciated in our industry but we go one step further by ensuring risk is reduced at the same time, an area we believe should be top of every search provider's offering.'

Searches UK can provide standard bundles and packs to clients processing their orders through them; however, if a more specialist variety of searches is required, this can also be arranged simply by contacting the team on 0800 043 1815.

There is a comprehensive selection of search reports for solicitors and conveyancers to choose from, including local authority, drainage and water, environmental, flood, mining, and planning searches.

VAT changes

After much to-ing and fro-ing in relation to the implementation of VAT to be added to council (official) local authority searches, HMRC has now confirmed that the proposed changes are due to be implemented on 4 July 2016.

The delay is a result of practical difficulties in implementing the change and the short notice given to local authorities to amend their ordering processes.

HRMC has agreed to defer the adjustment to coincide with the launch of the new CON29 form; however, there is a separate review of the proposed changes to determine if VAT should be added at all.

Lisa Summerton commented: 'There has been some uncertainty about the changes being proposed for council (official) local authority searches and how this will affected prices as a whole. At present, it is unknown whether some authorities will lower their prices to absorb the effect of the VAT implementation or whether authorities will add the VAT to the searches resulting in higher prices when ordering directly from the councils. Searches UK will continue to do its utmost to ensure clients are kept informed about what is happening throughout this time, and to offer our fixed price regulated (personal) authority searches as an alternative to the council's reports for those wanting continuity in pricing alongside an efficient service and quality search result.

Our regulated (personal) local authority searches are all carried out by local and expert agents and include full details on planning, building regulations, and highways information.'

Searches UK's wide-ranging searches are endorsed by the Search Code of the Council of Property Search Organisations and are covered by £2m professional indemnity insurance as well as a further £2m information accuracy cover.

Offering a full range of both residential and commercial searches, tailored bundles can also be put together for clients, dependent on their needs, and can be pre-populated on an intuitive and advanced ordering platform, offering enhanced hazard alerts to reduce a conveyancer's risk on files more than ever before.

As a supplement to the core product offering and as an added benefit of using Searches UK, practical reimbursement schemes for homebuyers, membership schemes, quotation software, case management systems, and risk and compliance information are also made available.

For more information about any of the products and services from Searches UK, visit the website and follow on Facebook, Twitter, LinkedIn, or Google+. Alternatively, email info@searchesuk.co.uk to speak to one of the dedicated team today.