tm blog

We’ve pulled together links to some useful resources, so you can double-check your team are prepared for the new transparency rules. 

Solicitors Regulation Authority

• Price transparency

A concise overview of the transparency rules can be found here, alongside a handy infographic of "price transparency at a glance". 

https://www.sra.org.uk/solicitors/resources/transparency/transparency-price-service.page

• Getting a Digital Badge

The new Transparency Rules require all regulated firms to display the SRA digital badge on their website.

You can find out more information about the badge and how to add it to your website here:

https://www.sra.org.uk/solicitors/resources/transparency/digital-badge.page

• Publishing complaints procedure

Notes and guidance on providing information about your own complaints process can be found here, alongside suggested text:

https://www.sra.org.uk/solicitors/guidance/ethics-guidance/Publishing-complaints-procedure.page

Council for Licensed Conveyancers

CLC have an “Informed Choice” section on their website, where you can find rules and guidance documents, as well as support materials including; 

• A cost template

https://www.clc-uk.org/wp-content/uploads/2018/09/180924-Cost-estimate-templates-FINAL.pdf

• Answers to "Frequently Asked Questions"

https://www.clc-uk.org/lawyers/informed-choice/informed-choice-frequently-asked-questions/ 

• Service information example text

https://www.clc-uk.org/lawyers/informed-choice/service-information-example-text/

Bold Legal Group 

You may have also seen an update in a recent BLG bulletin about opinion, obtained by Burcher Jennings, being offered to BLG members at a discounted price of £150.00 plus VAT.

This is well-written, practical advice on how to meet the new rules.

Please get in touch with Rob Hailstone directly on rh@boldgroup.co.uk to find out more. 

The Law Society 

• Practice Note

The Law Society have also published a practice note, offering support to solicitors in deciding how to comply with the new requirements of the transparency rules.

https://www.lawsociety.org.uk/support-services/advice/practice-notes/price-and-service-transparency/

Microsoft have awarded tmgroup Gold Standard partner status. 

Following on from many years as a Silver Standard partner, as well as our recently acquired ISO 27001 certification, this enhanced status further reassures our customers that we are a strong and reliable link in the supply chain. 

Being part of the Microsoft network is recognition of our commitment to creating and delivering innovative customer solutions and services based on Microsoft Technologies, acknowledging tmgroup’s product suite – including tmconvey, tmconnect and mio – as solutions designed and developed against the highest standards. 

Mark Gilbert, Chief Technology Officer (CTO) at tmgroup comments:

“We are delighted to have achieved Gold Standard partner status, and proud of our dedicated team who have demonstrated technical competencies in application and web development, and the management of our data centre infrastructure.

We know how important it is for our customers to not only be able to trust us, but also to be able to reassure their own clients – with confidence – that their data is being handled in a secure environment. A world-recognised standard for excellence certainly helps.”

Our certifications set us apart as a high calibre business partner, proactively addressing the ever-growing threats of cyber crime and data theft by continually investing in our infrastructure and staff. 

For more information about tmgroup’s certifications, please contact your Account Manager. 

We’ve added visibility of Commercial Corporate Ownership Data (CCOD) and Overseas Corporate Ownership Data (OCOD) to tmconvey’s Map Search – available from 7th December 2018.

What is the Commercial & Corporate Ownership Data (CCOD)? 

Commercial and Corporate Ownership Data contains more than 3.3 million title records of freehold and leasehold property in England and Wales.  

CCOD is a subset of the Land register containing data describing registered titles relating to land and property where the registered legal owner is a non-private individual and is not a charity or an overseas company.

What is the Overseas Companies Ownership Data (OCOD)? 

Overseas Companies Ownership Data contains approximately 100,000 title records, which describes titles registered to an overseas company (a company incorporated outside the UK).

How do I access these new datasets on tmconvey’s Map Search?

When CCOD or OCOD information is available against a title, a message will appear on the left-hand side of the screen, letting you know that the title has UK and/or Overseas commercial interests. 

You can then click on the available link, and Map Search will produce a summary of the information held against that title – including title details, proprietor name, company registration number and proprietorship category. 

What else can I do with these new data sets?

• Print or save to PDF

When viewing the summary of CCOD or OCOD, you will also have the option to print and/ or generate a PDF for your records. 

Please be aware, these data sets are regularly updated and so the information is subject to change. As a useful reminder, we’ll automatically add a “generated date” to every statement that is printed or saved to PDF.  

• Link directly through to the Companies House website

In a CCOD record with a company registration number, you’ll notice that the number will be hyperlinked, so you can click directly through to the relevant record on the Companies House website (where available) and do a brief look-up on company information, if you need to. 

Please note, this hyperlink is also carried through to the PDF version of the summary statement, so you can also access Companies House from there.

You can find more information about our latest Map Search enhancements here and here. 

Ahead of the new price transparency rules coming into effect on 6th December 2018, we asked the industry “Will the new rules change conveyancing for the better?”. 

We received an overwhelming response, with many saying they were confident that the new rules “make good business sense”, and should create competitive advantages for firms that promote the quality of their services alongside their prices. Yet there was a note of caution, that those who focus too heavily on price alone, risk a race to the bottom – and losing out. 

Want to find out what the regulators, media professionals, industry consultants and partners, and legal professionals have to say? Take a look… 

What do the regulators think? 

“Better information is good for clients and, if done well, can help firms too.”

Stephen Ward, Director of Strategy and External Relations, Council for Licensed Conveyancers (CLC)

“Potential clients might rely on word-of-mouth, referrals, or online searches to choose their conveyancer. However a buyer or seller starts their search, our new requirements will help them make an informed choice. 

We want CLC firms to succeed and we believe that providing clear information to customers makes good business sense. The changes provide CLC Practices with new opportunities to create a competitive advantage as they focus on service and quality and not just price. 

While our requirements set out what firms must do, we know that all CLC Practices are different, so we are giving them flexibility to comply with the rules in the way that best suits their business and their clients.

Better information is good for clients and, if done well, can help firms too. We are urging the firms we regulate to take a good hard look at how they position themselves in the market and to potential clients. Identifying, developing, and communicating their differences and the value they add will help potential clients know what their business offers – and why they should choose them over the competition. The changes can be a catalyst for this, but it will be up to firms to make the best advantage of them.”

“Being more transparent may give conveyancing providers a real competitive advantage.”

Chris Handford, Director of Regulatory Policy, Solicitors Regulation Authority (SRA)

“Buying a house is the biggest and most complex financial transaction most people will make during their lives, but for many, finding the information they need to help them choose a legal professional to work with can be a hugely frustrating challenge. Time and again, users of legal services highlight price and quality as the two most important factors they consider and look for information on when choosing a provider.

That there is an appetite to shop around is clear, an SRA survey of 1,000 recent homebuyers found that two-thirds spent more than an hour researching providers. Yet only 15% were able to track down easy-to-understand information on what firms may charge them. Our new transparency rules seek to address this by asking firms to publish both prices and accessible information on the services and people that sit behind these. 

Not only is this approach good for consumers, but in a highly competitive market being more transparent may give conveyancing providers a real competitive advantage in winning new business. At the very least, publishing prices should help debunk public misconceptions that professional legal services are more expensive than they really are. Our research suggests that people think legal costs are as much as 22% higher than is actually the case.”

“The new rules will allow consumers to compare ‘apples with apples’, and increase accessibility to conveyancing providers.”

Beth Rudolf, Director of Delivery, Conveyancing Association (CA)

“We, at the CA, certainly believe the new transparency rules will deliver a number of benefits providing far greater certainty for consumers that the charges they pay will match the transaction as it has been described to them. 

The benefits, as we see them, include the fact the consumer will now be made aware of any referral fee that is applicable in the case, they’ll effectively be able to compare ‘apples with apples’ when it comes to the service on offer, and that as a result this will encourage them to buy on service rather than on a perception of what is the cheapest. 

In a general sense, we believe it will improve the process for consumers wishing to find out about the costs of conveyancing, and it will also increase the accessibility of conveyancing providers, given that consumers have found it frustratingly difficult to ascertain the true costs involved because these have not been accessible from, for example, the firm’s website. Following the introduction of these new rules next month, it will be up to the regulators to take a robust view in enforcing failures to comply and providing full cost transparency, so that consumers are not lulled into £99 ‘deals’ only to find that their final bill is closer to £1,500.”

What do legal professionals think?

"Comparison websites will not help, because a client will only be able to search against firms who pay to be on the site."

Michelle Garlick, Partner and head of the Compli team at Weightmans LLP.

Compli advises lawyers on regulation, risk and compliance 

"I remain to be convinced. In most cases a meaningful fee quote is the result of a two-way process formulated on the basis of information received from clients regarding the work required, the timescales involved and consideration of the personnel required to complete the work.

The provision of the required information on a firm’s website is unlikely to be meaningful in the absence of this process. If done properly, it could provide more of an opportunity for firms to showcase their expertise and reputation (not just focus on price). It could also raise clients’ awareness of what is involved in a property transaction and thus help to better manage clients’ expectations, but there is a risk that too much information or a long list of caveats/exclusions either becomes meaningless or more confusing for consumers. 

The danger is that there could be a race to the bottom which in turn could lead to falling standards and increased complaints. Comparison websites will not help here either because a client will only be able to search against firms who pay to be on the site."

“Price transparency only risks making the industry even more price competitive, driving down fees and consequently service.”

Suman Dally, Partner, Shoosmiths LLP

“Whilst I understand the intention, I do feel the requirement for price transparency has caused confusion and created a further distraction in an industry which has far more pressing issues around modernisation and digitalisation of the conveyancing process. 

Conveyancers generally already provide clients with a comprehensive illustration of fees and anticipated expenses but, as every transaction and clients’ needs are unique and unknown at the point of instruction, additional fees can never be quantified by either client or lawyer at the point of instruction. 

Other professions do not seem to have this need for ‘standard’ disclosure of fees if, for example, we compare ourselves to accountants. Price transparency only risks making the industry even more price competitive, driving down fees and consequently service for under-valued and complex work in an ever more demanding consumer market – something which many conveyancers are not yet geared to offer. Low margins have already driven expert people out of residential conveyancing, which has resulted in a skills shortage, inevitably contributing to slower transactions. 

Price transparency will not fix the current challenges with the conveyancing industry. As conveyancers, we need to be more consumer aware in our dealings with clients, and be more inward looking. We need to review our processes and procedures and invest in technology to offer consumers better, digital access to information, to enhance the home buying process – something price transparency will not change. Price is also only one metric to enable consumers to make an informed choice. Fee transparency in isolation does not enable clients to make informed choices based upon the capability of the firm being considered, its service or claims record.”

“It’s a fine line between providing enough helpful information and overwhelming the reader.”

Megan Jenkins, Professional Support Lawyer, Shakespeare Martineau LLP

“Information is power and helping the public and small businesses to understand the legal services that protect their own interests is unquestionably a good idea. Many people only use lawyers a few times in their lives and so are not familiar with the issues and options. We are all busy, so moving the initial explanation of services onto lawyers’ websites should help more lawyer-client relationships start well.  

Understanding what is involved in a service before buying helps potential clients to judge what is offered. There are many kinds of legal providers, and different approaches will suit different people. The problem for lawyers is the complexity of a legal process is hard to explain clearly, especially before we know much about a client’s circumstances. 

It’s a fine line between providing enough helpful information and overwhelming the reader. Big differences between matters may not be obvious to someone outside the legal sector. All the same, this is a positive step and I hope that these changes will inform consumers so they can choose a suitable level of service and the right professionals to help them.”

“The new rules should help with enquiry conversions from clients.”

Rebecca Swain, Partner and Head of Residential Conveyancing, Thomson Snell & Passmore LLP

“I am fully in favour of providing clients with full costs transparency at the outset of a transaction and we have been doing so for as long as I can remember. The new rules require us to publish pricing details on our website; however there are a host of variables that will affect a transaction, which makes it almost impossible to provide an accurate fixed price without discussing the transaction with our clients first.   

It is important that clients consider what is covered in the base fee quote provided. Some law firms will include items as part of their standard retainer (for example acting for a lender on a purchase, processing SDLT returns etc…) whilst others will list separate charges for handling these.  This needs to be made very clear to enable the potential client to make their choice on a full like-for-like basis.

Decisions should also not be based on price alone. It is important to establish the level of service to be offered and the qualification and experience of the person(s) handling the transaction. Both can have a significant impact on the transaction and how it progresses.

The new rules will enable clients to view general details of the charging structure of a firm, which in return should help with enquiry conversions. However, I am still a firm believer in picking up the telephone to discuss a new transaction.  Only then can you be guaranteed an accurate initial quote and an indication of service.”

What do media professionals, and industry consultants and partners think?

“The younger generation (your clients one day) are looking for 24/7 access and immediate responses.”

Rob Hailstone, CEO, Bold Legal Group (BLG)

“The new Pricing and Transparency rules, very few want them and most will think they will drive legal fees down. I go to a lot of conferences and seminars and watch a lot of webinars (part of the job) and I don’t believe that has to be the case. I have even read (and have available) a Counsel’s Opinion on the rules. The question is, do you want to do the bare minimum to comply or use your website and the rules as an opportunity to try to win more, well paid work?

As much as the next person, I sometimes question change for changes sake, but when it is inevitable I try to embrace it and, to be honest, use it (as a businessman) to my advantage. My advice is, look at all the possible solutions and then make your decision. However, don’t forget, that the younger generation (your clients one day) are looking for 24/7 access and immediate responses. Maybe you should provide them with what they want?”

“We mustn’t lose sight of the fact that this isn’t just about price – otherwise we risk a race to the bottom which benefits no one.” 

Joe Pepper, CEO, tmgroup

“Providing the consumer with all the information to make informed choices around which service proposition best meets their needs is clearly something that all professionals within the property transaction marketplace should be aiming for. It is something that we at tmgroup have been championing for some time through our technology platforms.

It is important however that we don’t lose sight of the fact that this isn’t just about price, but that it more crucially is around the holistic service proposition, otherwise we risk a race to the bottom which doesn’t benefit either the consumer or the industry. A cheap service that makes mistakes, incurs unnecessary disbursements, and delays the transaction to the point where it risks falling through is not a good outcome for anybody. 

We have been working closely with our conveyancing partners to develop ways of delivering transparency around the actual service, which I believe will ultimately represent the step forward in consumer experience that the regulators and the industry are both seeking to deliver.”

“The best will use it as a chance to explain what they do and flesh out the value a good law firm adds.”

Eduardo Reyes, Commissioning and Features Editor, The Law Society Gazette

“Is the market only working if people are shopping around for the best deal? Competition authorities and modern professional regulators certainly think so, and law firms and clients are therefore invited to ignore the fact that economists have known since the 1930s… that markets actually never work so straightforwardly. 

I’ve spoken to firms as they prepare to publish price information. They range from firms that already have a conveyancing fees ‘calculator’ on their website, to those whose high-end part of the market is not especially price-sensitive. All those firms have to find ways to include caveats to the quotes given – there is a tension between the regulator view that this is a ‘commoditised’ service, and the reality that no two transactions are the same. 

The worst examples give a quote that’s hard to ‘read’ the component parts of if you’re not a legal or property professional, and attach caveats that sound more like a warning. The best examples use it as a chance to explain what they do – to flesh out the value a good law firm adds, and the fact this is an individual service. 

If all firms met the standard of those who have done it best, would clients shop around more? Probably not, but it’s still a good thing to do. 

 “Firms will open up an online channel that could increase contact and improve market share”

Craig Campbell, Product Director – tmconnect, tmgroup

“Firms should see publishing prices as a real business development opportunity to engage with consumers and help them to understand the value of the firm’s proposition, and not purely a compliance issue. Instead of the traditional methods of phone calls or face-to-face visits, home movers are now seeking digital channels to find quotes online in the evenings and on the weekends, when they are not at work. 

By publishing price information online, firms will open up an online channel that could help them benefit from increased contact and improved market share in an increasingly competitive market.

When clients feel looked after and have a good experience, they are more likely to go back to the firm for other work, from generating a quote all the way through to the completion of the work, being able to improve efficiency in the firm and communicate via multiple channels.”

“The benefits will stand or fall based on the up-front case made by introducers and conveyancers for the value they represent”

Richard Hinton, Director, Pitsford Consulting Ltd

“I think the new price transparency rules will change conveyancing for the better, and I think in time firms will come to welcome their introduction for three principal reasons:

1. They are being nudged into line with how the market increasingly wants to engage with mainstream private client services. Those that embrace it most fully will see the best results. Firms that adopt a "what can we get away with?" approach either already serve niche markets, or will simply widen the competitive gap between them and their professional peers who do embrace these changes.

2. The benefits to clients of paying referral fees will stand or fall based on the up-front case made by introducers and conveyancers for the value they represent. I don't think it'll be enough to say "we're passing on a marketing cost that we incur" if there isn't a discernible client benefit to go with it.

3. Price transparency is encouraging firms to look for more service and performance data that contextualises price. This has hitherto largely been ignored, but this new catalyst is already bringing forward innovative datasets from bodies such as HMLR and Trustpilot, which is improving the range of comparable data. Firms that argue strongly that price isn't an accurate measure of the value they supply can now make the wider case using solutions like ours.“ 

“Managing online reputations and reviews will be a crucial part of a firm’s marketing considerations moving forward.”

Chris Harris, Managing Director of Lawyer Checker and the Practical Vision Network

“Although many within the legal sector are reticent about the upcoming changes to price and service transparency, it should make it easier for consumers to make informed decisions on their buying choices.

It will become imperative for conveyancers to consider how they will demonstrate their added value and expertise to the client. Those that fail to consider the services they offer and why their price is justified because of their experience will result in an inevitable race to the bottom by focusing their attention on the competitive price they can offer. Managing online reputations and reviews will be a crucial part of a firm’s marketing considerations moving forward.

Businesses that implement the relevant changes effectively, and carefully consider the unique selling point they offer their potential clients, should create: a competitive market, offer better value and service for money and decrease consumer complaints.”

What do you think about the new transparency rules?

Got an opinion you’d like to share? Tweet us @TM_Property

We're counting down the days until Christmas with our tmgroup advent calendar, celebrating the best of 2018! Keep an eye on our Twitter feed, or take a look below. 

Introducing the tmgroup advent calendar, celebrating the best of 2018! #day1

Operation Christmas Child! 44 shoe boxes were lovingly wrapped with toys - and 32 staff volunteered at a nearby packing depot to send them on their way! #charity

tmgroup advent calendar #day2

We were more than ready for GDPR on 25th May 2018!

https://blog.tmgroup.co.uk/post/tmgroup-announce-GDPR-compliance-as-industry-continues-to-rise-to-the-challenges-posed-by-fraudsters 

#GDPR #ChristmasIsComing

In April, we launched our NEW Post-Completion services – with SDLT & AP1 submission.

https://www.tmgroup.co.uk/convey/post-completion 

tmgroup advent calendar #day3

In 2018… We added to our industry credentials - and achieved ISO 27001 certification!

https://blog.tmgroup.co.uk/post/ISO-27001-certification-2018 

tmgroup advent calendar #day4

#ChristmasIsComing

We published our Market Report: The Current Market and Direction of Travel, focusing on key events shaping the UK Property Market. 

Not read it yet? Don’t panic… There’s still time! http://web.tmgroup.co.uk/cn/an9um/2018Marketreport 

#day5

mio has been rolled out to #EstateAgents across South Wales & the South West - with great results! @peteralanltd have reduced offer-to-exchange from an average of 18 wks to 12.5 wks!

https://thenegotiator.co.uk/game-changer-sales-progression-tool-completes-cardiff-pilot/

#day6

In April, we acquired a majority share in Conveyancing Data Services, combining a wealth of industry knowledge & experience. 

https://blog.tmgroup.co.uk/post/tmgroup-UK-Ltd-acquires-majority-share-in-Conveyancing-Data-Services-Ltd-CDS 

#day7

In June, we supported @Agents_Giving & donated 163 items to a @TrussellTrust #foodbank. Our good deed even featured in @EAToday #charity

https://blog.tmgroup.co.uk/post/mio-stacks-up-a-good-deed-for-Donate-a-Food-Parcel-Day 

#day8

Between 1st & 5th October, we took part in #NationalCustomerServiceWeek. Our customers got involved too, and we received great feedback including; “tmgroup’s customer service is excellent and staff are always friendly and helpful”. 

#day9

We introduced our New Build Managed Service to help take away the hassle typically associated with New Build cases. Keep an eye out for the NEW button on the tmconvey platform.

https://www.tmgroup.co.uk/convey/new-build 

#day10

In October, we announced our integration with Lexis® Visualfiles™, bringing together two proven, best of breed conveyancing solutions to meet the evolving needs of the market.

https://www.lexisnexis-es.co.uk/insights-news-events/press-releases/lnes-partners-with-tmgroup-to-offer-market-leading-conveyancing-data-and-search-platform-visualfiles-customers/

advent calendar #day11

Did you know? We’ve been enhancing our mapping features on tmconvey – with time-saving features including the addition of CCOD and OCOD data. 

https://blog.tmgroup.co.uk/post/Map-Search-data-now-includes-CCOD-and-OCOD 

advent calendar #day12

We’ve supported the @HMLandRegistry rollout out of their digital LLC register – with City of London, Warwick, Liverpool & Blackpool.

https://blog.tmgroup.co.uk/post/Brethertons-celebrated-as-first-to-order-an-LR-LLC1-through-tmconvey 

#day13

We became members of the UK PropTech Association @UKProptech, joining companies active in #PropTech & reinforcing our commitment to collaboration across the property sector. 

https://ukproptech.com/2018/09/28/members-spotlight-tmgroup/

#day14

We saw fantastic feedback in our Property Searches Scotland Customer Satisfaction survey. 98% rated Helpdesk & admin team as ‘Very good/Excellent’ AND 94% rated search turnaround times as ‘Very good/Excellent’. 

advent calendar #day15

In September, our best bakers (and fakers) stepped forward to help raise £127.91 for @macmillancoffee ‏World's Biggest #CoffeeMorning.

#Day16

We captured an inspiring case study on the difference mio made to #EstateAgents @AllenandHarris #Bristol.

https://blog.tmgroup.co.uk/post/Allen-Harris-save-time-and-impress-clients-with-new-sales-progression-tool

#efficiency

#day17

Across 2018… We hosted 17 tmpropertyhub events in 9 locations, bringing together almost 100 property professionals including #EstateAgents #Conveyancers and #Surveyors

https://blog.tmgroup.co.uk/post/5-Things-Property-Professionals-in-Liverpool-have-been-talking-this-year

#day18

Microsoft awarded tmgroup Gold Standard partner status, acknowledging tmconvey, tmconnect and mio as solutions designed and developed against the highest standards.

https://blog.tmgroup.co.uk/post/tmgroup-takes-the-Gold 

#day19

In September, we sponsored a Law Society Gazette @lawsocgazette roundtable discussing residential conveyancing & the challenges of price transparency. 

https://www.lawgazette.co.uk/roundtables/roundtable-house-parties/5067561.article 

#day20

Ahead of 6th December, we asked the industry “Will the new price transparency rules change conveyancing for the better?”. Did you see what they said?

https://blog.tmgroup.co.uk/post/expert-opinion-transparency-rules

#industry

#opinion

#day21

In August, our mio team announced our partnership with Reapit, the leading cloud platform for #EstateAgents

https://blog.tmgroup.co.uk/post/mio-partners-with-Reapit-to-speed-up-transactions-and-reduce-fall-through-rates 

#day22

Across the year, we’ve responded to a changing market place to support our customers’ needs, with helpful and timely articles on everything from VAT on Disbursements to SDLT changes announced in The Budget. 

#CustomerExperience

#day23

In November, our Property Searches Scotland team entered the ‘Legal Technology’ and ‘Support Team of the Year’ categories for the Scottish Legal Awards. Fingers crossed for the January results! 

#day24

Happy Christmas and all the best for 2019! 

We hope you’ve enjoyed our advent calendar countdown!

It’s that time of year again… The return of Philip Hammond and the red box. So what’s in store for the housing market? Fighting for position with Brexit, it was touch and go as to whether it would even make it onto the agenda – but thankfully it did.

As always, the question will be “is it enough?”. tmgroup’s Chief Financial Officer, Tony Bobath, takes a look…

Stamp duty relief is being extended for first time buyers
On Monday, the Chancellor of the Exchequer announced that he was planning to build on the momentum developed amongst first time buyers by extending the stamp duty relief to shared ownership properties with a value of up to £500,000, with the relief being applied retrospectively to the end of last year.

This should provide a nice boost to first time buyers using the more flexible ownership schemes now in place, particularly in regions where property is more expensive.

More money available for the Housing Infrastructure Fund
A further £500m is being made available for the Housing Infrastructure Fund, aiming to get more new homes built in the areas of greatest demand as the Chancellor is pushing to increase the supply of homes, in particular starter homes and social housing.
Anything that helps unlock land for development and gets houses being built is good news, so again this investment is to be welcomed.

Other points
The Chancellor made reference to a number of other points in his speech or immediately in the debate that followed, which have a direct impact upon the housing market. He wants to consult on stamp duty for overseas buyers, the Help to Buy Scheme will be extended out to 2023, small land medium housebuilders will be able to call on additional bank guarantees to give them greater confidence, and he is reviewing the tax relief applied to rental income where the owner is in shared occupancy with the tenant.

He also has tried to address “austerity” by making the working population feel a little bit better off, particularly in Middle England, through significant increases in personal allowances.

So there are some changes which will help the housing market. However, one budget was never going to change the fortunes of a market that is so shaped by consumer confidence; and never could this be truer than today where we are faced with the huge uncertainties presented by Brexit. Maybe we will think differently in 12 months’ time assuming we land smoothly from the divorce from our European partners and have another nice boost to the housing market and are all feeling a little bit better off with further consumer stimuli.


About tmgroup  

As a leading IT solutions provider, tmgroup are the experts in innovative solutions that enable simplification and automation across the breadth of the property transaction. tmgroup’s customers extend to conveyancing solicitors, mortgage lenders, estate agents and developers.   

Key services:   

> tmconvey : Property searches are an integral part of tmconvey, along with insurance and risk  management tools. With its simple, integrated design, it cuts the time and effort it takes to complete the conveyancing transaction.    

> tmconnect : tmconnect is a cloud based transactional hub, providing a joined up workflow for  estate agents, mortgage lenders and conveyancers to access and share transactions securely.

> tmcore : tmcore is an online property data hub for local authorities and other search providers,  linking conveyancers to local authorities for faster land data without incurring unnecessary fees or being bound by complicated systems. 

> tmconvey Premium : tmconvey Premium is a specialist service for commercial real estate  lawyers. Benefits include Premium Terms & Conditions, up to £20 million PI cover per claim, and a managed portfolio service.   

> Property Searches Scotland : Property Searches Scotland are part of the tmgroup family and from our offices in Glasgow we offer a full range of property searches for residential, commercial and remortgage  conveyancing across all of Scotland's 32 council areas.  

> mio:  mio is a sales progression and communication tool created by property experts for property experts. It speeds transactions forward, reduces fall-through rates, and helps estate agents win more business.

The company has 140 employees and is headquartered in Swindon – and has recently achieved ISO 27001 accreditation.

tmgroup have also acquired a majority share in Conveyancing Data Services (CDS) – a conveyancing search provider with over 100 years' combined experience within the property search market.

For more information, visit www.tmgroup.co.uk 

If you have any questions or would like additional information or interviews, please contact Megan Jones on megan.jones@tmgroup.co.uk

Remember the Map Search enhancements we made earlier this year? 

Well, we’ve made even more changes – and they’ll be available on tmconvey from Friday 26th October onwards. All helping you to save time, avoid mistakes and reduce duplication of effort. 

Here’s a quick peek at what to look out for…

Want to pull your existing case outline into Map Search? No problem. 

As you may have already noticed, when you go into Map Search from our services dashboard, you arrive at an empty screen. 

However, we’ve now updated our system, so that if you go into Map Search through the case dashboard and have already created a case plan and outline, you’ll be invited to bring this outline into your new Map Search session. This allows you to see titles in relation to your pre-existing case outlines. From there, you can continue with your work as normal and complete your order. 

We’ve also added some visual cues in when you are looking at your titles, such as the case reference and address showing in the bottom right hand corner of the screen, as a helpful reminder as to whether you are working from your case or Map Search. 

You can now also turn your case outline on and off – whilst keeping your red dot in position – and view any other title information as you wish, making things clearer for you and your team.  

Increased visibility across each case with an LR OC1 reorder option

We know that sometimes it’s necessary for multiple people to be working on the same case, but this can make it harder to understand who has ordered what and when. 

That’s why we’ve extended the selected titles page, so you can also see any other LR OC1 orders that have already placed against the case – and reorder them if you wish, simply by selecting a tick box. 

We’ve also made sure you can see the content of the OC1 request. For example, if a standalone Register was ordered previously, and now you just need to order the plan.  

Defined areas of interest help avoid titles being ordered in error

Occasionally, a typo in a title number can result in a title being ordered against a property in Leeds instead of Southampton. Whilst it doesn’t happen all the time, we want to give you peace of mind it never will. 

That’s why we’ve created a defined area of interest for each case, based on the red dot, so you can only order titles in the relevant area – and not accidentally order something half way across the country. 

How does it work? It’s simple. As you type in the first line of the address or title number, a drop down list will appear highlighting which addresses are and aren’t available in this Map Search view. For example, if you are working in a defined area of interest in Swindon, you will be able to view postcodes and title numbers in Swindon, but not those of the same name in Grimsby. 

(Please note, if you do want to use a title number outside of the defined area of interest, you’ll need to use Map Search through the Service Dashboard.) 

Have a question?

If you have any questions about these changes, or would like to request additional features that would help to make even more time for your team, please get in touch with your Account Manager, or our friendly Helpdesk team on 0800 840 5571 or email helpdesk@tmgroup.co.uk.

tmgroup have achieved ISO 27001 certification. The endorsement is only awarded to firms that comply with a mandated set of requirements relating to information security management.  Certified businesses must evidence an ongoing commitment to continually improving their systems. 

Information security is a critical business risk. It is attracting increasing scrutiny in the management of supply chain risk and consumers are more alert to the way their data is stored and shared.   

Joe Pepper, Chief Executive Officer (CEO) at tmgroup comments:

“As a leading provider of data solutions to the property sector, tmgroup’s certification reinforces our commitment to working with legal and property professionals to help them meet lender and consumer requirements.”

Professor Richard Benham, Chairman of The National Cyber Management Centre comments:

“With the growing need for all organisations to show that they take data security and its management seriously I am delighted to have helped tmgroup achieve their ISO27001 accreditation.” 

As you may already be aware, on Monday 15th October, Groundsure launched their updated and enhanced ‘Groundsure Screening’ report, as well as their redesigned and enhanced ‘Groundsure Review’ report. 

You can find more information about these changes, alongside pricing and sample reports, below:

Redesigned and enhanced : ‘Groundsure Screening’ report

This report is for lower value less complex commercial property transactions and multi-site portfolios. This enhanced report meets Law Society compliance on contaminated land and flood risk and it covers; 

> Full flood risk assessment and Energy data

> Planning constraints

> Ground stability screening

> Property specific radon assessment

> Transportation screening including Crossrail 1 and 2, HS2 and more

Enhancements include; intelligently filtered data, results in Plain English, intuitive layout and page flow, and fewer pages.

Click here to see a sample report 

NEW Pricing

Groundsure have also made changes to the price of their Screening report;

Redesigned and enhanced : ‘Groundsure Review’ report

Gives expert, bespoke opinion required for all high value property transactions, complex industrial sites and redevelopments.  The report includes;

> Law Society compliant contaminated land and flood risk assessment

> Ground stability and Property specific radon assessment

> Manual review of high detail historical Ordnance Survey mapping in all cases

> Operational environmental risk assessment from Groundsure’s in-house team of environmental experts

> Full Energy & Transportation data (including Crossrail 1 & 2, HS2 and more)

> Planning constraints

Enhancements include; intelligently filtered data with fewer pages - displaying only relevant results, manual assessments in plain English, operational environmental risk assessment, complete HS2 data, Crossrail 2 route and safeguarding, optional planning applications, and intuitive layout and page flow. Each report will now also provide the Consultant's name and contact details for any queries or advice

Click here to see a sample report

NEW Pricing

Groundsure have also made changes to the price of their Review report;   

If you have any questions, please get in touch with your account manager, or get in touch with our friendly helpdesk team on 0800 840 5571, or email helpdesk@tmgroup.co.uk.

HM Land Registry have confirmed that international law firm Bird & Bird LLP were the first law firm to receive a City of London LLC1 result through their new digital Local Land Charges Register. tmgroup are delighted to say that this order was placed via their tmconvey platform – and the result was returned within seconds at precisely 10:14am on Monday 8th October. 

Russell Dellar, partner at international law firm Bird & Bird comments:

“We are delighted to be the first tmconvey customer to receive an LLC1 result from City of London via HM Land Registry’s new digital Local Land Charges Register. At Bird & Bird, we are focused on helping organisations being changed by technology and the digital world. This new innovative platform is certainly something we are keen to promote as well as tmgroup services who we have had a relationship with for many years. The team have never let us down and we look forward to continuing our relationship.”

Paul Albone, Chief Operating Officer at tmgroup comments:

“It’s fantastic to be a part of HM Land Registry’s continuing success with their new digital Local Land Charges register, and we’re pleased to be supporting this new service on tmconvey. tm has a track record of working closely with HMLR on integrated solutions, and we look forward to continuing to work together to deliver further improvements in the future which will help to streamline the conveyancing process even more.”

City of London is the third Local Authority to have their Local Land Charges data digitised, closely following Warwick District Council (11th July) and Liverpool City Council (3rd September), and tmgroup will continue working closely with HM Land Registry throughout the rollout of their new digital Local Land Charges Register.

A further 16 Local Authorities are expected to have their Local Land Charges data digitised across 2018 and 2019, including Stevenage Borough Council, Carlisle City Council, and Peterborough City Council – although exact dates have yet to be announced. 

You can see the full list here.