Proposed Finance Bill reforms will ‘create chaos’, STEP warns ahead of autumn budget
STEP, the professional body for trust and estate practitioners, is urging the government to reconsider some of the proposals in the Finance Bill, which it says will disproportionately punish older business owners, put bereaved families at financial risk, and ‘create chaos’. The organisation warns that the proposed reforms to Agricultural Property Relief (APR) and Business Property Relief […]
‘Act now to modernise Wills’, Law Society tells government
The government must act now to modernise wills, or risk leaving many people’s final wishes unprotected, the Law Society of England and Wales has said. In May 2025, the Law Commission published its report Modernising Wills Law, setting out key recommendations to update legislation that has remained largely the same since the Wills Act 1837. The comprehensive […]
Solicitor cleared after client’s capacity called into question over quick cash property sale
A solicitor has successfully defended his conduct at a Solicitors Disciplinary Tribunal (SDT) hearing after being accused of acting ‘recklessly’ and failing to act in the client’s best interests after being instructed on the quick sale of a property by a client whose capacity was later called into question. The seller, known as Client A, […]
PRA increases FSCS deposit protection to £120,000
From 1 December, UK bank customers will be protected for up to £120,000 if their bank fails, the Prudential Regulation Authority (PRA) has announced. The deposit protection limit, which applies to the Financial Services Compensation Scheme, will increase from its current limit of £85,000, which was set in 2017. The increase – which applies to […]
Unoccupied property insurance specifically for auction property launched
A new seven day unoccupied property insurance specifically for auction properties has been launched through a collaboration between Insuristic and Probate.Auction. Insuristic is probate and property insurance broker founded in 2022 offering combination of property and legal indemnity insurance to consumers and law firms; including unoccupied home insurance, probate property insurance, and legal indemnity insurance. […]
Property equity increasingly used for financial stability, survey finds
An analysis by later-life finance specialists Key Group reveals ‘a sharp shift’ in how UK homeowners use equity release, with mortgage repayments now the dominant use for the funds – indicating a greater use of property wealth to stabilise household finances. The data, which includes the cases of over 1000 Key Group customers agreed between […]
Why FCA chief Nikhil Rathi is right to highlight the importance of later life lending
Last week, the FCA chief executive Nikhil Rathi shared his vision for the mortgage market of the future, in a speech given at L&G Mortgage Club’s 30th anniversary conference. The speech highlights the importance of later life lending as part of building the mortgage market of tomorrow, but the customer need is already evident and […]