Commenting on the emerging demographic trends:

“The traditional first time buyer market we recognise is steadily shifting up the age range, with first time borrowing stretching beyond 65.   Others choose to borrow to help their family, secured on the equity it has been their good fortune to see grow. Recent recognition by the FCA of retirement interest-only mortgages was welcome.  A number of societies offer these mortgages, giving older borrowers a useful alternative.”

Kate Faulkner, Property Commentator and Director, Designs on Property, provided a lively and insightful opening to the lunch with a property market review. Kate took guests through the key changes for homebuyers and sellers and their advisers from 2002 to today, before looking ahead to the prospects for the next 15 years, and the dominant forces driving change in the consumer landscape and what these might bring for the future property market. All of which provided food for thought for informed debate for the remainder of the lunch.

“From just two questions before 2002, to 25 standard questions 15 years on today, the Enquiry provides the essential and qualified information about a property’s water and sewerage assets to mitigate homebuyers, lenders and professional advisers’ risks. DWSN are looking forward to working with the Law Society and other key stakeholders to continue to develop and shape the CON29DW for the future.”

Kevin Brown, Chair of DWSN and Director, Geodesys

Exploring market changes and the impacts of changes in Stamp Duty and Brexit, as well as the urgent challenges around referrals, the standing of conveyancers, pressure on fees plus cyber fraud. It was a morning of lively, generally upbeat and informed debate.

Read more here.

From just two questions in the local authority search, the new CON29DW enquiry was developed in 2002 to include the location of sewer and water mains, the connection status of a property, and billing information. Today, the enquiry comprises 25 standard questions answered in full, from sewerage and water asset information to sewer flooding history and connection information, giving peace of mind and mitigating risk for homebuyers, property owners and conveyancers alike.

The CON29DW is compiled by specialist teams with years of experience using a vast range of water and sewerage data, checking and reviewing each report, then passing the data through various quality and review stages, before it’s delivered to customers.

There have been multi-million pound investments in this service by CON29DW producers in order to improve product quality and speed of response. Today, over 95% of reports are delivered within five working days.

Visit www.con29dw.co.uk or read our Guide to the CON29DW  to find out about the CON29DW or to identify your local producer.

Whilst existing water companies will still own and maintain water and sewerage networks, services including billing, handling customer queries and complaints, and meter reading will be provided by a number of different companies (see www.open-water.org.uk/).

This change will have an impact on the Commercial Drainage and Water Enquiry (CommercialDW). This briefing note explains the changes and what commercial property conveyancers need to be aware of.