Storm brewing in the housing market
Sarah Dwight, a member of our conveyancing and land law committee, speaks to the FT (£) about the potential storm brewing in the UK’s housing market following the chancellor’s mini-budget announcement.
“I have seen down valuations due to the bidding wars for properties. There has been so much panic whipped up by the headlines, and in 48 hours I had two other buyers pull out of purchases because they were no longer comfortable to proceed and were worried they would end up in negative equity,” she said.
Legal action against Associated Press
Steve Kuncewicz, a Law Society Council member, spoke to Good Morning Britain (from 0:34:30, registration required) in relation to several public figures taking legal action against Associated Newspapers.
SRA takes first steps on its own indemnity fund
The Gazette, Today’s Family Lawyer, Today’s Wills & Probate and Today’s Conveyancer cover news the Solicitors Regulation Authority (SRA) has launched a consultation to determine how it’s new indemnity fund and post six year run off cover (PSYRCO) will be run.
Law Society president I. Stephanie Boyce said: “We are positive about the way in which the SRA’s position on PSYROC has evolved, and glad they now agree it is necessary to protect the long-term interests of consumers.”
Crown Court backlog
The News, Portsmouth reports the growing Crown Court backlog in Portsmouth. At the end of June, there were 345 outstanding cases, up 308 from March.
I. Stephanie Boyce said: “The criminal justice system has been devastated by years of underfunding and cuts and there are not enough judges, barristers and solicitors to cover all the cases. Trust in the system is in real jeopardy and a system collapse would embolden criminals.”
The court backlogs are also covered by the Bolton News, News & Star and the Lancashire Telegraph.
Black History Month: On the march
The Gazette delves into its archives to mark Black History Month.
I. Stephanie Boyce, our first Black president, urged “action not words,” adding: “Black people often experience racism and discrimination. Then they are expected to fix it. This must change.”
Drinking culture at legal events
Shaheen Mamun, one of our social mobility ambassadors, co-writes an article in the Gazette with Shabnam Ali-Khan, a partner at Russell-Cooke, about whether there is a drinking culture at legal events.
They said: “In times of ever-growing diversity and inclusivity, we need to move away from alcohol being a regular feature and start thinking out of the box and catering for a wider range of people.
“Otherwise, we risk losing some fantastic lawyers who are feeling shunned away from the profession because of drinking.”
Also worth a read:
- Barristers vote to end strike – BBC
- Foreign Office brings in more Russian sanctions – Roll on Friday
- Lower socio-economic students face financial hardship – Guardian
- ‘Bad migration’ measures – Times (£)