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The Water Authorities and Local Authorities have advised of their annual round of price increases – taking effect on 1st April 2021.

These changes will be automatically implemented on the tmconvey platform, and will be reflected in any new orders as the changes take effect.

Which Water Authorities and Local Authorities are changing their prices?

We’re working closely with the Water Authorities and Local Authorities to ascertain exactly which authorities are increasing their prices and what these new prices will be – and will continue to keep you updated as more information becomes available. 

The current available details are below:

Water Authorities 

Here is the latest information from the Water Authorities – taking effect on 1st April 2021. 

Anglian Water (Geodesys) : No price change this year

Northumbrian Water : TBC

Leep : No price change this year

Severn Trent Water : See price changes information below

>> CON29DW Residential

There will be a +£2 (exc. VAT) price change on a CON29DW, as of 1st April 2021. 

>> CON29DWC Commercial

There will be a +£64 (exc. VAT) price change to the CON29WC, as of 1st April 2021, as the report is being enhanced:

> The new and improved CON29DWC report will include the full features of the CON29DWC Extra report

> CON29DWCB (basic) and CON29DWCE (extra) are being withdrawn on 31st March

Southern Water : No Price change this year

South West Water (Source for Searches) : No Price change this year

Thames Water :

> Pricing for Residential and Commercial CON29DW remains unchanged.

> From 31st March, the Commercial Extra and Commercial Plus will be withdrawn from sale.

United Utilities : No Price change this year

Welsh Water : TBC 

Wessex Searches : No Price change this year

Yorkshire Water (SafeMove) : No Price change this year

Local Authorities 

The following Local Authorities have confirmed they will be changing their prices on 1st April 2021. 

Anglesey County Council

Arun District Council

Ashfield District Council

Aylesbury Vale District Council

Barnet London Borough Council

Basildon District Council

Basingstoke & Deane Borough Council

Bassetlaw District Council

Bedford Council

Birmingham City Council

Bolton Borough Council

Boston Borough Council

Bracknell Forest Borough Council

Braintree District Council

Bridgend County Borough Council

Brighton & Hove Council

Broadland District Council

Bromsgrove District Council

Broxbourne Borough Council

Cardiff County Council

Cambridge City Council

Camden London Borough Council

Chelmsford City Council

Cherwell District Council

Colchester Borough Council

Copeland Borough Council

Craven District Council

Crawley Borough Council

Dartford Borough Council

Daventry District Council

Ealing London Borough Council

East Cambridgeshire District Council

East Hampshire District Council

East Staffordshire Borough Council

East Suffolk Council

Enfield London Borough Council

Epsom & Ewell Borough Council

Exeter City Council

Fareham Borough Council

Fenland District Council

Forest of Dean District Council

Gloucester City Council

Greenwich London Borough Council

Guildford Borough Council

Gwynedd Council

Hammersmith & Fulham London Borough Council

Haringey London Borough Council

Harlow District Council

Harrogate Borough Council

Harrow London Borough Council

Hart District Council

Hastings Borough Council

Havant Borough Council

Havering London Borough Council

Hounslow London Borough Council

Huntingdonshire District Council

King's Lynn & West Norfolk Borough Council

Kensington & Chelsea Royal London Borough Council

Knowsley Metropolitan Borough Council

Leicester City Council

Lewisham London Borough Council

Lincoln City Council

Maldon District Council

Malvern Hills District Council

Mansfield District Council

Medway Council

Melton Borough Council

Merthyr Tydfil County Borough Council

Merton London Borough Council

Mid Sussex District Council

Mole Valley District Council

Newcastle-Under-Lyme Borough Council 

North Kesteven District Council

North Somerset District Council

North Warwickshire Borough Council

Powys County Council

Redditch Borough Council

Reigate & Banstead Borough Council

Rhondda Cynon Taff County Borough Council

Ribble Valley Borough Council

Richmond Upon Thames London Borough Council

Rother District Council

Rotherham Metropolitan Borough Council

Rugby Borough Council

Rushcliffe Borough Council

Rutland County Council

Ryedale District Council

Scarborough Borough Council

Sevenoaks District Council

Sheffield City Council

Shepway District Council

South Bucks District Council

Solihull Met Borough Council

Somerset West & Taunton Council

South Cambridgeshire District Council

South Gloucestershire Council

South Hams District Council *price change in May

Southampton City Council

Southend-On-Sea Borough Council

South Northamptonshire Council

South Oxfordshire District Council

Spelthorne Borough Council

Stevenage Borough Council

Swindon Borough Council

Tandridge District Council

Teignbridge District Council

Test Valley Borough Council

Thanet  District Council

Three Rivers District Council

Tower Hamlets London Borough Council

Vale of White Horse District Council

Watford Borough Council

Welwyn Hatfield District Council

West Devon Borough Council *price changes in May

West Lindsey District Council

Wigan Borough Council

Winchester City Council

Windsor & Maidenhead Royal Borough

Woking Borough Council

Worcester City Council

Worcestershire County Council

Wychavon District Council

Wycombe District Council

Wyre Forest District Council

If you have any questions, please contact our Helpdesk on 0800 840 5571 or email helpdesk@tmgroup.co.uk

Did you know subsidence is the most costly ground hazard in the UK? Around 64 million pounds of subsidence claims were made in the last year – and it’s only going to get worse as climate change wreaks havoc in the hotter and drier summers ahead, yet the full extent of the risk isn’t widely understood.

That’s why, as part of our tm:tv series on climate change, in partnership with Terrafirma, Dr Tim Farewell – one of the UKs leading academics on geohazards and the interaction between the natural and built environment – shared the top 5 questions every legal professional and homeowner should ask to better understand the future of subsidence.  

1. Can the soil shrink as it dries?

Soil is complex, but one of the key questions we need to ask is “can it shrink?”. This is because the expansion and contraction of the soil, as it gets wet and dries out again, creates movement and inevitably damages brickwork. 

It’s not the only soil factor to consider – as sandy soil types can also cause problems (for example, a consistent dripping of water can lead to the formation of a hole beneath the property) – but, by mapping which parts of the UK have a prevalence of shrinkable soil types, it’s possible to build an accurate picture of the properties most likely to be affected by subsidence as the climate changes. 

2. How’s the weather? 

Brits love to talk about the weather! However, it’s more than just small talk when it comes to subsidence risks, as in areas with a prevalence of shrinkable soils, the increasing shift towards hotter and drier summers – brought on by climate change – is a big problem.

This is expected to cause the most disruption in the next 20 years, as the depth the soil will dry out to will increasingly align with the 2-metre depth of foundations. 

3. Are there trees nearby?

Trees are another risk factor in areas with a prevalence of shrinkable soil. 

Whilst nearby trees are unlikely to directly cause subsidence issues, their presence can accelerate damage by sucking additional moisture out of the soil and contributing the depth the soil dries out to. 

4. When was the house built? Is there an extension? 

Certain types of construction also make properties more vulnerable to subsidence. For example, older houses tend to have quite shallow foundations, whilst newer ones are regulated to be substantially deeper.  

This may not cause too much of problem for properties kept in their original condition, but the addition of a new extension could complicate things; as differing foundation depths could result in one part of the house moving more than the other, leading to cracking between the original house and the extension. 

5. Are you looking backwards AND forwards in time?

Typically, conveyancers look at historical data (such a coal mining sites and areas of contaminated land) to understand the ground and perform their due diligence against their clients’ intended purchases. 

However, as the climate changes, and the ground also changes in response, the industry needs to be increasingly looking forwards and modelling against the anticipated impact of subsidence, if we are to take a more consistent approach in advising clients on the risks of climate change, and the likelihood of them needing to make a subsidence claim in future. 

It’s not just about modelling either, it’s about taking steps to future proof against the anticipated risk. For example, moving towards a point where developers are building New Build properties with “green” foundations and less concrete to help mitigate the risk of subsidence in the longer term. 

Do you want to know more? Take a look at the subsidence session on tm:tv here.

As part of a tm:tv series on climate change, in partnership with Terrafirma, the ‘Mining our way to a greener future’ episode brought together an expert panel to discuss how the property industry need to start making changes today, to prepare for the sustainability challenges of tomorrow. 

Hosted by Martin Manning, Head of Account Management at tmgroup, the panel included:

• Kate Charrington, Chartered Residential Surveyor & Valuer

• Megan Jenkins, Professional Support Lawyer - Real Estate, Shakespeare Martineau

• Tom Backhouse, Geologist and CEO of Terrafirma

Whilst it was immediately clear this is a complex issue, with no magic wand, there are many changes the industry can collectively make to move things in the right direction. 

Here are just some of the suggestions…

#1: More lender guidance and data to help make informed decisions 

The property industry is currently lacking the clear guidance it needs for professionals to advise consistently on sustainability matters, as Martin Manning commented: “Right now, so much comes down to the best judgement of the surveyor and solicitor involved in the transaction. We simply don’t have the steer from the likes of RICS, The Bank of England, The Law Society, and so on, of what exactly needs to be looked at across the breadth of the transaction.”

This current lack of direction creates challenges, as Kate Charrington commented: “To complete a survey or valuation, surveyors look at lots of different things, including capital value and who the average market participant is, but they won’t look at sustainability issues, as there’s simply not enough data or lender guidance out there to help them make informed decisions. Moving forward, we need to be integrating more systems to see what the flood, green, and radon risks are (and more!). As it currently stands, the industry doesn’t have enough insight to make valuations based on sustainability matters, and therefore homeowners don’t see the value either.”

Solicitors are in the same boat, as Megan Jenkins commented: “Like surveyors, solicitors also rely on guidance from lenders and governing bodies to manage the risk of the transaction, and so if the lender hasn’t yet taken onboard the impact of sustainability on property value, this isn’t going to be feeding into conveyancing practices. Energy Performance Certificates (EPCs) are a great example of this, as we’ve had them available on every property since 2008, but not needed to report on them. However, there’s now a call for lenders to report on EPCs, and while it’s only in the consultation period, it’s clear to see how factoring poor EPC ratings into lending risk assessments could help to reshape the conversation on sustainability and give solicitors and surveyors some much-needed guidance.” 

#2: Homebuyers need to be investing in sustainability measures in the same way as they currently think about adding an extension or downstairs toilet 

All homeowners know that if they want to increase the value of their property, they can look at making home improvements such as adding an extension, new driveway or downstairs toilet, but this narrative needs to change, as Martin Manning said: “I think we need to see more drive both from lenders and the media to make it clear to homeowners that they should expect a return on investment with sustainability measures too. We also need to start talking about how properties will be LESS valuable in the future without a ground source heat pump (for example), as changing the language we use can be very powerful.”

Such messages could be reinforced by the introduction of new incentive schemes or taxation measures, pushing the general public to make greener choices (similar to what we’ve seen more recently with car taxation). However, more needs to be done to make sure such schemes actually make a difference, as Kate Charrington added: “We regularly see new incentives pop up in the market, but they often don’t have the desired impact – especially in cases where the maths just doesn’t add up. When you only have a £5k grant for a £15k ground heating pump, it’s not surprising many homeowners choose to spend their money elsewhere.” 

Such negative experiences create additional barriers in moving towards a more sustainable future as well, as people are less likely to take up new initiatives if they’ve been “burnt” before – particularly when you think of the less scrupulous businesses that benefitted from the rollout of solar panels in recent years. 

#3: Everyone needs to better understand the implications of increased mining activity in the UK 

The mining of additional minerals in the UK is really important for the long term sustainability of our shores, but more education is needed to help homeowners and property professionals alike better understand this, as Tom Backhouse commented: “The challenge we have with mining is that living memory is all coal-related mining, as it was a massive industry and supported livelihoods across the UK. But this conversation needs to change. As we move towards a future of electric vehicles, more copper and critical minerals need to be extracted from the earth than have ever been mined in human history. Whilst a lot of this activity is taking place offshore, there’s a renewed interest in mining across the UK (for example, looking at mining parts of Cornwall for tin and lithium) in order to make us more resilient in mining commodities and meet the needs we will have in developing electric vehicles and solar farms, etc… We’re at a point where we should be reconsidering our day-to-day work processes within the scope of the property transaction to help the country prepare for a greener future, as well as better understand the impact increased mining activity will have on the value of nearby properties.”

…And that’s just the tip of the iceberg! Watch the full ‘Mining our way to a greener future’ tm:tv session for more on how the property industry can become sustainable. 

Barclays Bank, Halifax, Lloyds Bank, Nationwide, The Royal Bank of Scotland, Yorkshire Building Society, and Skipton Building Society are just a handful of an increasing number of lenders now accepting Search Delay Insurance – according to the UK Finance Mortgage Lenders’ Handbook for Conveyancers, as of 22nd February 2021. 

The use of Search Delay Insurance is also permitted under CoPSO guidance; “where local authority delays mean search information cannot be obtained within the timeframe required by the conveyancer and their client”. By contrast, “‘No Search’ Insurance products which provide insurance as a substitute for definitive search information, not just as cover for any delay until the search information is available, are not compliant with the Search Code.”

This clarification is a welcomed relief to residential conveyancers, many of whom are now feeling the pressure to pull out all the stops to get their transactions over the line before the end of the Stamp Duty holiday on 31st March – even with the expected announcement of a 3 month extension being confirmed in the Spring Budget.

Where can I find Search Delay Insurance?

Offered by tmgroup, in partnership with legal indemnity provider CLS Property Insight, Search Delay Insurance is available to order now on tmconvey and tmconnect:

• A limit of indemnity up to £1 million

• A site size of up to 2 acres

• £19.50 inc. IPT 

The policy provides the insured party with financial cover in the event that an entry that would have been revealed in a delayed search leads to a loss under the terms of the policy. 

Areas of potential cover include loss of market value and professional and legal costs associated with a loss event – for both New Build and existing properties – in relation to the following searches; official Local Authority, drainage and water searches, coal mining and Q22 commons/green enquiry. PCCB regulated equivalent enquiries are also included under the policy cover. 

For more information and to see a sample policy, please contact your Client Relationship Manager. 

Residential conveyancers and estate agents both anticipate the Stamp Duty holiday extension verdict to have a significantly greater impact on their role in 2021 than either the COVID-19 vaccination programme or Brexit – according to the findings of the ‘Thriving in a Pandemic’ report published by tmgroup and mio earlier this month. The survey of over 600 property professionals also revealed anxiety around an increased number of broken chains and fall-throughs this year.

These concerns were echoed in the verbatim comments captured within the survey, including:

• “Without an extension of the Stamp duty holiday or a revision of the rates, the pressure on conveyancers will continue. I worry how much the conveyancers can deal with.” (Residential Conveyancer)

• “If the March deadline is not extended, I would imagine we’ll see a higher fall through rate. I have spoken with a fair few clients who are only moving to take advantage of the freeze on SDLT.” (Estate Agent)

• “If the Stamp Duty holiday is not extended or eased properly then it’s going to fall off a cliff.” (Estate Agent)

The Spring Budget announcement will bring some certainty to the market

The good news is that the Spring Budget announcement is just around the corner, which will bring some much-needed certainty to the situation – if nothing else, which will also allow business leaders to pause, take stock and continue the year with a renewed focus on achieving their business priorities for 2021 – including business growth, better use of technology, integration and digitisation, as Joe Pepper CEO at tmgroup commented: 

“It’s fair to say that the industry has been somewhat distracted by the unusually high volumes of property transactions coming through the pipeline, as well as the uncertainty (and potentially false hope) around the Stamp Duty holiday extension, which remains a critical concern in residential property. However, with the Chancellor set to announce the Spring Budget on 3rd March, there’s not much longer to wait until the industry either welcomes an extension of sorts, or battens down the hatches to cope with the final charge towards the Stamp Duty deadline. Whatever happens, for many in the property industry, I’m sure the 31st March can’t come soon enough.”

Want to find out more? The ‘Thriving in a Pandemic’ report is available to download now. 

The findings of the new ‘Thriving in a Pandemic’ report, recently published by tmgroup and mio, have highlighted that the market has not been able to cope with the sheer volume of transactions brought on by the post-lockdown and Stamp Duty holiday surge.

Despite creating unprecedented demand for property services, and helping the industry to appear to be thriving on the surface, a survey of over 600 property professionals – including residential conveyancers, real estate professionals, estate agents, developers, surveyors, and more – has revealed what’s really been happening ‘behind the scenes’; with an inability to handle rapidly increasing work volumes resulting in significant delays and an underwhelming customer experience.

Multiple parties under huge personal pressure to work longer hours

Sadly, the report findings also highlighted a trend of multiple parties connected within the transaction, particularly residential conveyancers, feeling under huge personal pressure to work longer hours to cover for the inadequate processes and technology in their businesses, as reflected in this comment from a residential conveyancer; “Increased caseload together with search and mortgage delays leading to frustrated clients has had a hugely detrimental effect on conveyancers wellbeing.” 

Unsurprisingly, this has raised significant concerns about mental health in the industry, as recently cited in this article from LawCare which claimed; “The number of legal professionals contacting the charity for emotional support continues to rise year on year, with 738 legal professionals seeking help in 2020, a rise of 9% on the previous year.”

The challenges of 2020 have focused the industry on making better use of technology to ease the pressure on their processes and staff 

Yet there is positive change afoot, with many property professionals acknowledging the need to review their systems and processes in 2021, as Joe Pepper, CEO at tmgroup commented:

“Looking to the year ahead, the report findings showed a strong focus on better use of technology, including system integration, which could help improve overall business efficiency and ensure that all property professionals are better able to cope with an expected increase of volume again, as the economy returns to normal in the second half of the year – a prediction based on a widely-anticipated COVID-19 and Brexit bounce-back supported by the continued availability of historically cheap lending. It’s interesting to note that these priorities reached across all of the professional groups within the property market, but the demand for better technology and system integrations was especially high up the list for residential conveyancers, with a strong feeling that the industry must demonstrate that it can handle higher volumes more efficiently if it is to thrive in the future.”

Want to find out more? The ‘Thriving in a Pandemic’ report is available to download now. 

A survey of over 600 property professionals has revealed that more acceptance of digital and remote working has been welcomed by the industry and recognised as an outstanding positive of the COVID-19 outbreak. This is just one of many revelations featured in the new ‘Thriving in a pandemic’ report published today by tmgroup and mio, which also reflects on the challenges that have stretched the industry to its limits. 

Carried out across December 2020 and January 2021, survey participants – including residential conveyancers, real estate professionals, estate agents, developers, surveyors, and more – shared their thoughts on the lessons that reshaped the property market, and how they expect them to continue to change the face of property transactions in 2021 and beyond. 

The research also gathered key insight into the individual impact of these industry changes, which further reiterate the positive feeling towards the wider adoption of digital and remote working, including:

• “It’s been very challenging, but amazing how much can be done remotely.” (Residential conveyancer)

• “Working from home and the use of technology have been positive factors for me. Hopefully the technological advances will continue to leap forward in 2021.” (Real estate professional)

• “We’ve saved a lot of time and money – especially on travel costs – thanks to the collective shift to using technology instead of face-to-face meetings.” (Estate agent)

• “2020 has been a great opportunity to embrace change, not just within our firm but also the industry. For example, we’ve gone from paper files to full electronic working.” (Residential conveyancer)

2020 was the year that nobody planned for

Capturing a snapshot in time at the end of a remarkable year, the ‘Thriving in a pandemic’ report explores remote working, digitisation, workflow tools, collaboration, and more; not only reflecting on what has been, but looking ahead at what’s to come, as Joe Pepper, CEO at tmgroup comments:

“2020 was the year that nobody planned for, and whilst the UK property transaction industry would eventually fare better than many other parts of the wider economy, it was still the nearest thing to a rollercoaster ride that many of us will ever face in our working lives. Most of the industry has had to react and change at a pace not experienced for decades, and many of the ways of working that businesses operated to in the first quarter of the year had disappeared by the time we got to the summer, and it seems likely that some of the old certainties have been shattered forever. The reassuring factor is that the industry was able to change, and what has shone through is how resilient and adaptable we truly are.”

Want to find out more? The ‘Thriving in a Pandemic’ report is available to download now.  

As the first Women in Residential Property meeting of 2021 took place, the mood was undoubtedly optimistic as the expert panel – representing many of the key industries involved in residential property transactions – discussed how their businesses were faring. 

Joined by surveying representative, Rachel Griffiths – SDL Surveying,  conveyancing representative, Megan Jenkins – Shakespeare Martineau, property searches representative, Kelly Wilson – tmgroup, estate agency representative, Lisa Rowden – Blundells, and mortgage broking representative, Gemma Bacon – Mortgage Advice Bureau, Chair Emma Vigus, also MD of mio and part of the tmgroup Exec, kicked off the conversation by asking the group to reflect on their current work volumes. 

A strong tail end of 2020 has propelled high volumes into 2021, and it’s been a busy start to the year for some, as Rachel Griffiths – SDL Surveying comments:

“We’re still incredibly busy as we continue to manage the work coming through from a busy November and December. In fact, we’re actually up 11.512% on where we were in January 2020. There is some variation across the country however, as London and South Wales are particularly busy, compared to a relatively flat and steady picture in Manchester, the Midlands and North East, but it’s really too early to say exactly what this means.”

There’s been a similar experience for lenders and mortgage brokers, as Gemma Bacon – Mortgage Advice Bureau comments:

“We are seeing continued higher levels of activity through January so far, off the back of a strong November and December. We’re optimistic about the year ahead as we’re continuing to see high demand.” 

By contrast, estate agents are feeling the more immediate impact of Lockdown 3.0. as sellers are unsure about putting their house on the market right now, as Lisa Rowden – Blundells comments:

“We’re seeing valuations slack off a bit because of Lockdown 3.0. As with previous lockdowns, there’s this initial period where people don’t realise they can still move. The message just isn’t getting out in some places, so we’ve got lots of buyers, but not a lot of people wanting to put their house on market. Once people begin to feel more confident and become more aware of the  measures that are in place to help them move safely, for example virtual viewings, I’m confident this will prove to be a ‘temporary blip’ and the volumes will come through once more.”

It’s also anticipated that the end of the Stamp Duty holiday may not be as drastic as first thought, as Megan Jenkins – Shakespeare Martineau comments:

“We’ve been busy across all elements of the residential market, and while we’ve had a lot of people ask questions about being able to complete within the current Stamp Duty holiday, a lot of people have been quite relaxed about it all and simply said that if they don’t get there, they’ll still move in April/May. It may very well be the case that volumes begin to tail off, but it’s promising to see there are still people happy and willing to move after the end of March.” 

This will also be supported by a rush of people still wanting to buy and sell houses due to a change in personal circumstances, as Lisa Rowden – Blundells comments:

“Although Lockdown 3.0. and the Stamp Duty holiday period are creating a rather unpredictable market, there are some strong emerging trends and we’re optimistic that we should be meeting (if not exceeding) our 2019 transaction volumes. As an example, we’re expecting to see an increase in First Time Buyers; many of which have continued working and have been able to build a sizeable deposit from their reduced living costs (of no commute, for starters) and are now well-placed to take advantage of the increased availability of 95% LTV mortgages.”

That’s not the only driving force expected to support the property market this year, as Gemma Bacon – Mortgage Advice Bureau comments:

“We’re also expecting a surge of people to be moving house for more personal reasons, such as deciding to part ways after an intense last 9 months, as well as a surge in “lockdown babies” at the other end of the spectrum, forcing people to reassess their living arrangements.” 

As the meeting came to a close, there was some discussion about the ongoing challenges posed by extremely high volumes of work and unrealistic client expectations. The importance of good communication, alongside working collaboratively with the other businesses involved in a transaction, were highlighted as key to helping to resolve these problems. The meeting ended on a positive note with agreement on the fact that one of the key lessons we’ve learnt in 2020 is that the residential property industry and the people in it are more adaptable and resilient than we could have ever imagined.   

Just in case you missed the Stamp Duty debate yesterday, here’s a quick round up of some of the key contributions:

Elliot Colburn MP:

The debate opened with Elliot Colburn MP who championed the view of the petition and drew on data from the lender Paragon which suggested that 42% of borrowers would be unable to afford to proceed if they missed the current deadline, which would translate into a total of 51% of chains in serious danger of collapse.  He felt that the delays were largely outside of the control of the home-buyers, and therefore unfair.  He outlined several options for alternatives, but felt that given the current circumstances he would most welcome a phased or tapered extension.

Catherine West MP:

Swiftly followed by Catherine West MP, who noted the wider economic benefits of the Stamp Duty holiday – including confidence in the construction industry, as well as a hive of activity for connected services including removals and retail (e.g. furniture stores) when people move.  She highlighted some concern for the need for Stamp Duty feeding into the Treasury funds, such as for supporting social housing, and also that there were some buyers with whom she had little sympathy (most notably those buying second homes) but recognised the stress and worry of home movers at risk of missing out, and suggested that the government could follow the example of the devolved assembly in Wales in looking at how to provide targeted support to those who ‘needed to move’.

Kevin Hollinrake MP:

Next, Kevin Hollinrake MP (noting his interests and experience in the industry) surmised that there was no benefit to be gained from simply extending the Stamp Duty holiday, as this would just create another cliff edge for the industry to worry about.  Instead, he said that those at a significantly advanced stage (for example, those with a mortgage offer in place by the end of February) should be granted more time – particularly in reference to the estimated 400,000 properties currently stuck in the pipeline, partly owing to the limited capacity in mortgage and conveyancing services.

Dianne Abbott MP: 

Dianne Abbott MP then made a special plea for exceptional treatment for people buying in the London Borough of Hackney, allowing them to benefit from the stamp duty relief at a later date, due to the impact of the cyber-attack on the council on 11th October 2020.  This had meant that Hackney was unable to fulfil property searches currently, and that it was unfair therefore for home-buyers in Hackney to miss out on the stamp duty holiday for reasons outside of their control.

Greg Smith MP:

Next, Greg Smith MP commented on the success of the Stamp Duty holiday for stimulating the economy, and stressed we must make it count for those already in progress. He stated his opposition to Stamp Duty as a tax generally, and felt that the current holiday could be extended and in due course the way we tax property in the country could be reviewed.

Janet Daby MP:

Janet Daby MP noted that Stamp Duty was introduced to support the housing market in a period of a pandemic, and that pandemic had gone on longer than expected and therefore so should the relief.  She called attention to the wider positive impact on connected parties and services, with surveyors, architects, removal companies, and more, all also benefitting from the activity generated by the Stamp Duty holiday, and therefore also called for an extension to the Stamp Duty deadline. 

Matthew Offord MP:

Matthew Offord MP raised concerns that he’d heard from a number of his constituents who were worried they wouldn’t be financially able to go ahead with their transactions if they missed the 31st March deadline, and suggested an extension would help boost transactions by 10%, with all the associated benefits, if it were extended until the end of 2021.  He also noted that older people in particular had been disadvantaged as they were unable to get out and about during the pandemic, and many were looking at this as an opportunity in which to downsize.

Barbara Keeley MP:

Further support for an extension came from Barbara Keeley MP, who said that no one could have predicted the ongoing lockdowns and restrictions that came into effect after the Stamp Duty holiday was introduced, and that those who made a commitment to move in the good faith that they would not have to pay stamp duty should not be penalised. 

Sarah Olney MP:

The main exception to the call for some form of extension to the stamp duty holiday came from Sarah Olney MP, who reiterated her opposition to the initiative, as she said the money the Treasury had missed out on through offering this tax break could have been better spent on funding furlough or addressing the cladding scandal.   She did however say that she was open to longer-term reform of the way property is currently taxed.

Ben Everitt MP:

By immediate contrast, Ben Everitt MP showed his supported for a tapered end to the Stamp Duty holiday to avoid an overnight “cliff edge”, and also called for overall reform in SDLT. 

Abena Oppong-Asare MP:

Abena Oppong-Asare MP then provided a view from the Labour front bench and highlighted that this cliff-edge had been foreseen when the original holiday was announced, and that it was a clear fault in the design of the initiative.  As a result, there was now a clear case to look to amend the approach as it was clearly unfair to those who will be unable to complete before 31st March due to reasons clearly outside of their control.  A better solution should be found rather than a simple extension to the cliff-edge, and it should not be used as a tax benefit for those buying second homes.

Jesse Norman MP (responding for the Government): 

The debate concluded with Jesse Norman MP responding for the Government.  He reflected on the success of the Stamp Duty holiday in driving activity and stimulating the market by providing confidence but noted that part of that success had been driven by the time-limited nature of the relief.  He noted that he was unable to provide any view on government’s approach outside of a formal financial event, but did suggest that the government would always listen to the opinions of those engaged in the market.

As for what happens next, the industry has been vocal about the need for an extension, but exactly what this will look like (if at all) remains to be seen, as Joe Pepper, CEO at tmgroup commented:

“It was an interesting debate, with 9 MPs speaking in favour of some kind of change to the current plan to end the Stamp Duty Land Tax holiday at the end of March, and only 1 speaking against, although the majority felt that the creation of another cliff-edge in the future was not the right approach.  If the Government does move, then it would be more likely to involve a phased or tapered end to the duty, and potentially require home-movers to have reached some milestone in the home-buying journey, so we would suggest that anybody worried about the possibility of missing the current deadline speaks to their conveyancer to understand what they can do to make sure that they will have done as much as possible to speed up the process and demonstrate their commitment to the move.”

Thanks to an integration supported by tmgroup, a leading property data and technology provider with over 20 years’ experience, Plymouth-based law firm, Wolferstans Solicitors, has benefitted from significant time savings, as Arash Dinari, Head of Commercial Property – Wolferstans Solicitors comments:

“Our commercial property team has been working with tmgroup since February 2020. Thanks to their time-saving technology, we’ve significantly reduced the admin time per transaction, and this has helped our team work far more efficiently. Not only that, but the service has been fantastic. We’ve been so impressed, we’re now rolling out across our residential property team too.” 

Initially drawn to tmgroup by their strong reputation for excellent service levels, Wolferstans’ commercial property team quickly started embracing tmgroup as a trusted business partner; empowering the tm team to deliver key operational changes to help save them time – including full integration with their existing Case Management System provider (DPS Software). This pivotal change has helped Wolferstans to streamline their processes and reduce admin time on conveyancing tasks, and so free up more time for delivering fantastic customer service to their clients.

Rolled out in collaboration with Wolferstans and DPS Software, tmgroup were able to complete the full integration with minimum disruption. This allowed Wolferstans to embrace the benefits of tmconvey – including ordering searches at the click of a button and having the search results returned automatically into their CMS – whilst continuing to use their chosen Case Management System, and so saving further time by not having to retrain their staff. All of which has reduced rekeying and double entry and amounted to hundreds of hours saved across the year. 

As Joel Swann, Business Development Manager at tmgroup comments: “All conveyancers want to save time – and our innovative technology allows them to do just that. It’s fantastic to be working in partnership with Wolferstans and to see our tmgroup/ DPS Software integration already making such a positive difference to their overall business efficiencies.”

For further information, please contact Joel Swann, Business Development Manager at tmgroup, via Joel.Swann@tmgroup.co.uk or call 07483 155862.