Collaboration is all about working together to jointly deliver something that individually is unachievable. Enact and Orbital Witness have been collaborating in 2023 on the development and deployment of an AI solution to screen Enact’s leasehold instructions as they come in, in order to flag and resolve issues swiftly for their clients, and reduce abortive costs and non-billable hours. The collaboration has been very successful. The solution has helped Enact to catch and resolve lease defects in 27% of new instructions, which has allowed clients to take decisions before they are more financia ..read more

We are delighted to once again be sponsoring West Leeds ARLFC.  In recent years the club has become something of a hub of activity for youngsters in our local area, something we are proud to support.  We’re over the moon to be shirt sponsor for the ladies team this year and we wish all the players the very best for the upcoming season! The post West Leeds ARLFC Sponsorship appeared first on Enact ..read more

New guidance from the National Trading Standards Estate and Letting Agency Team (NTSELAT) has been released on “material information” in property listings. A culmination of three years’ work, the new rules aim to bring clarity and consistency to how property is marketed. The ultimate aim is to ensure that all information which would be material to a buyer, and may impact their decision to purchase a property, is available much earlier as part of the property listing. This guidance is broken down into three parts: Material information part A Part A of this guidance was released in 2022; the gu ..read more

Enact are proud to be supporting MacMillan Cancer Support as their charity partner in 2023. This made hosting the annual Macmillan Coffee Morning even more important. The staff at Enact surpassed themselves producing some amazing bakes for our 2023 Coffee Morning, and through a combination of selling these delicious treats, and raffling off tickets to a gig at the First Direct Arena, Enact have managed to raise an incredible £437.51! Every penny raised will help to provide services for people living with cancer at every stage of their cancer experience, be that emotional, practical, p ..read more

With mortgage and interest rates at some of their highest rates in 15 years and a notable contraction in mortgaged house purchases, it’s a troubling time for home buyers. We’ve taken a look at the recent reports around the property market and mortgage sector to identify the good news as well as the bad. We’ll start with the housing market. Data supplied by HMRC has recently been published showing that overall property transactions in the UK are down 9% year on year. This is interesting as, on face value, the total number of sales month on month was actually up from May to June (by 28%), but w ..read more

2023 has been a tough year for the property market so far, in the main due to increases in interest rates, and the knock on effect this has had on mortgage deals. The reality is that homeowners are anxious about the current high mortgage rates, and as importantly, whether the value of their homes are likely to drop in 2023 after the post-COVID boom. Are property prices going to fall in 2023? Resolution Foundation, a think tank, suggest that if interest rates remain high for the long term, then property prices could fall by as much as 25% over the next 5 years – which is a very gloomy projecti ..read more

What is a leasehold property? ‘Leasehold’ properties can be confusing when buying, as the legal structure of ownership isn’t as simple as buying a freehold property. A key difference with  leasehold property is that you would own the property for a specific length of time, known as a “term”. Once this time is up ownership would return to the freeholder unless the lease is extended. It is more common for flats and maisonettes to be leaseholds, where you own the property but not the building it is in. However you can get houses sold as leaseholds, in these situations you would own the house ..read more

If we omit the period immediately following the COVID-19 lockdown, the UK Housing market’s homeowner lending rate is at its lowest level since 2009. This is looking specifically at home movers – rather than first-time buyers. However, the picture is similarly bleak when reviewing the first-time buyers lending market, which is also suffering; falling to its lowest level since 2015. Reports show that the number of first-time buyers taking out a mortgage with terms in excess of 35 years hit an all-time recorded peak at 19% in March of this year; a trend which is reflected by the number of home m ..read more

Research has shown that over half of homeowners surveyed would pay for a Home Information Pack (HIP) to avoid their property transaction falling-through, with 40% willing to pay for one if it would speed up the transaction time. This finding comes off the back of a study by Moverly, who provide digital property packs. The study indicates that by providing a consumer friendly report at the point of listing a property, which includes information such as the boundary plan, flood risk, whether the property is in a conservation area, if there are any TPOs or flagging if the property is listed, hom ..read more

Yorkshire Dales Mighty Hike Charity Fundraiser On 1st July, 67 members of Team Enact took on the Yorkshire Dales Mighty Hike to raise funds for Macmillan Cancer Support. This was a gruelling 26.2 mile hike across the Yorkshire Dales in unforgiving weather over challenging terrain, but the team kept the smiles on their faces and raised a huge amount of money for our charity partner. Becci Shanks, Relationship Fundraising Manager at Macmillan said: “I am absolutely blown away by the incredible total from your Yorkshire Dales Mighty Hike! Including Gift Aid, your total currently stands at £1 ..read more