Housing Market to Rebound in 2011?

Despite uncertainty over house prices, and with some commentators predicting that mortgage lending may fall to its lowest level for 30 years next year, a substantial majority of consumers think that 2011 may be the ideal time to buy, according to a recent survey by the Building Societies Association (BSA)*.

Some people may have concerns that a fall in the value of their property due to the recession makes it unwise to purchase a new property now.
However, any property purchased now is likely to cost substantially less than at the peak of the market, and so there are most definitely good deals to be had, particularly if you are trading up. In fact, there might never be a better opportunity to do so!

The December 2010 edition of the BSA's Property Tracker survey showed that most people (59%) believe that the best time to buy property is within the next 12 months, and a further 11% would buy in 2012.

Commenting on the results, Paul Broadhead, Head of Mortgage Policy at the BSA said,

"Although the housing market remains uncertain, the public do not expect house prices to fall as dramatically as they did two years ago. As such, many expect that the best time to enter the market will be in the next year or so”.


For all your conveyancing needs, contact
EDC Lord and Co on 0208 848 9988
One of our experienced conveyancers is ready to help you now.


*Source: www.bsa.org.uk

Libel success against “Solicitors from Hell” website

Below is a press release by Carter Ruck Solicitors who acted for EDC Lord in a libel action against the owner of the website Solicitors from Hell, who was publishing very damaging and untrue comments about EDC Lord and its Partners.


The law firms EDC Lord & Co and Jordans Solicitors have successfully settled
their libel action against Rick Kordowski, the owner of the website “Solicitors
from Hell”.
Mr Kordowski has removed the false and highly defamatory material posted on
the website about each of the firms and its solicitors. Mr Kordowski has also
provided an undertaking to the Court that he will not republish the false
allegations or list the firms on his website in the future.
The firms initially wrote to Mr Kordowski asking for the allegations to be taken
down, but he refused to do this without payment. As a matter of principle, the
firms refused to pay Mr Kordowski any money and they were left with no option
but to issue libel proceedings against him.
The firms and its solicitors are pleased that the false allegations have now
been removed from the website and that they will not be republished by Mr
Kordowski.

For further information please contact Luke Staiano on 020 7353 5005
and at luke.staiano@carter-ruck.com.

Seeing is believing!

Here at EDC Lord Towers we place great emphasis on personal service; being available when you need us; and communicating effectively*. For those reasons it has been said that the law thrives upon presenteeism, to the extent that being in the office at all times is seen as a virtue. But, equally desirable for us is getting to know our client’s businesses, and the environment in which you operate. We believe that we can give you the best advice when we really know how your business works. However, even lawyers can’t (yet) be in two places at once, so occasionally something has to give. For the next few weeks, Andrew Isitt our Dispute Resolution Partner, will be out and about undertaking reviews with clients at their places of business. The purpose of the exercise is to listen to your assessment of the current state and future direction of the markets in which you operate, to your assessment of the prospects for your business in 2011, and to discuss how we can best tailor our services to meet your changing needs in the future. So, whilst the idea of solicitors leaving the sanctuary of the office to visit their clients is not (quite) revolutionary, it is still rare enough to warrant a blog post! However, in this communication-age being out of the office should not mean being out of touch, so should you need Andrew you can contact him on his mobile 07979 602058, or by e-mail to aisitt@edclord.com or you can speak to his secretary Lyn, direct on 020 8862 8954.

* To that end you will find no references in this article to “solutions”; “going forward”; “deliverables”, “key drivers”, or other such over-used jargon. For further pet hates see:

http://www.telegraph.co.uk/news/newstopics/howaboutthat/3532338/Thinking-outside-the-box-is-most-despised-business-jargon.html

Snow Wins/ No Fees

Is anybody out there? The severe ( for the UK) weather has meant that many people have been unable to make it in to their places of work today. Not so the good people of EDC Lord and Co , all of whom have braved the worst the British winter can throw at them, and have made it, by hook or by crook ( or by off-road bike in my case), in to the office, so that we can continue to be of service to our clients despite the inclement weather. Unfortunately, trying to be productive is very difficult when there are very few people on the other end of the phone, or in their offices. The modern communications revolution should mean that many more people are able to work from home irrespective of whether or not they can travel beyond their front gate. But anyone who’s ever bemoaned the lack of a mobile signal outside the M25 , will not be surprised that teleworking ( defined as those people who work from home using computers and telecommunications technologies) is not as universal as some parts of the media would have us believe. Although there has been a rapid increase in the number of people able to work from home in recent years, it started from a very low base. So, in 1997 “teleworkers” accounted for a mere 4% of the workforce. That figure had doubled by 2005 ( the last year for which published statistics are available) to 8% of the workforce ( 2.4 million people) who worked wholly or mainly from home. In addition, a further 1 million people occasionally worked from home, making a total of just under 12% of the workforce*. Undoubtedly, that total will have increased in the last 5 years, and no doubt extreme weather episodes will increase it again in the short term, but even if one makes a generous assumption and doubles the totals again, that still means that 3 out of every 4 workers cannot work if they cannot make it in to the office. Because we live in an inter-connected world where our productivity depends upon others fulfilling their roles as much it does us fulfilling our own, for those that do make it in, what they are able to achieve is limited by those who couldn’t make it. So, if you’re one of the people who slogged through the snow/bedded down in the office/ stayed in a hotel/ or who can telework from home: let’s talk! For everyone else, get the sledge out and enjoy the white stuff while it lasts!


* Home-based working using communication technologies, by Yolanda Ruiz and Annette Walling, can be found in Labour Market Trends October 2005, published by UK National Statistics.

The Impact of Litigation for Small Businesses

In these difficult economic times, Small Business Owners need to be 100% focused on putting in place strategies to stabilise and grow their businesses. They need to maximise the benefit from hard-won opportunities in a challenging market, in order to take advantage of the upturn when it comes. Therefore, for a Small Business Owner, becoming embroiled in costly litigation is counter-productive and , in extremis, can be life-threatening for the business. It is difficult to find studies which look in detail at the effects of litigation on Small Businesses. However, there is a useful study originating from the USA a few years back*, which ( on the basis that what happens in the US eventually crosses the Atlantic) holds lessons for Small Businesses here in the UK today. The US study concluded ( perhaps not surprisingly) , that litigation is costly to Small Business owners in terms of both money and time: resources which could be better and more productively spent pursuing new opportunities, rather than fighting rearguard actions. The cost of litigation amongst those surveyed ranged from $3,000 (£1900) to $150,000 (£96,000). Small Business Owners attempted to recoup their litigation costs by cutting operating expenses, targeting new customers, or expanding services to existing customers. Raising prices was not an option, as it would have put them at a competitive disadvantage.

The effect of litigation on a business can be so severe that it modifies the way Small Business Owners do business: most will go to great lengths to stay out of court , which was their major motivation to settle claims prior to trial. There is nothing new in this: Charles Dickens’ 1852 novel Bleak House, is a cry of frustration against the exceedingly slow and expensive English legal system, epitomised by the fictional case of Jarndyce v Jarndyce which went on for years and drove everyone connected with it to madness. Jarndyce was based upon a real case in the English courts which ran on for 53 years, and prompted Dickens to write “Suffer any wrong that can be done you rather than come here!"

Well, times have changed, but not all that much! It is still wise to avoid litigation if at all possible, even in these straightened economic times, when the risk of bad debts and the need to protect business interests may point towards litigation, rather than to other potentially more productive and business-friendly ways of resolving disputes.

The study also found, and this is a point that is often overlooked, that litigation causes emotional hardship within Small Businesses, and that Small Business Owners became more wary of customers and employees as a result of their litigation experience.


At EDC Lord and Co, we understand and appreciate the pressures on Small Businesses, precisely because we are a Small Business ourselves. We understand the need to take early action to avoid disputes if possible, but when that fails, we also understand that we need to be part of the solution , rather than adding to the problem. That is why our first priority is to work with our clients to ensure that they receive good advice to enable them to comply with their obligations across the whole range of business interactions, whether it be customers, suppliers, employees or regulatory authorities, to prevent disputes arising in the first place. However, even the best run business cannot always avoid disputes arising, and that is why we provide advice, assistance and legal representation to our clients to help them to resolve disputes when they do happen. However, we only recommend litigation as a last resort when all other avenues have been tried and failed. We make extensive use of Pre-Action Protocols to try to resolve matters without recourse to the courts, and we will always consider with every client whether some form of Alternative Dispute Resolution ( ADR) , primarily mediation, could help. We value our clients and we prefer to build long-term business relationships , which enables us to provide the best quality advice tailored to the specific needs of our clients’ businesses. Accordingly, we guarantee we will not “pad” the costs of a case by issuing court proceedings unnecessarily before other avenues of settlement have been tried, nor will we “drag out” cases to maximise our short-term billing. What we will do is work with you to achieve a reasonable commercial outcome at a proportionate cost and with minimum disruption to your business. This is our guiding philosophy. But, don’t just take our word for it. This is what our clients say:

“Many thanks for your efforts to achieve such a satisfactory outcome at such short notice; it is a huge weight lifted from our shoulders” Mr and Mrs P 2009


“I am very pleased with the professional way in which you and your firm dealt with my case” Mr W 2009

“I would like to thank you for the stress free and efficient process in obtaining possession of …..
Road. I would not hesitate to recommend your services.” Ms W 2009

“Thank you for bringing this matter to a very successful close” Mr and Mrs G 2009







“The successful dispute resolution in our favour is a result of great team work and you being the core of it all. Your experience and advice got us through. It was a good experience working with you.”

Mr C (Director of Overseas Company) 2010

“Thanks for the last job, it worked wonders for us”.

Mr H ( Company Director) 2010

“I extend to you my warmest thanks for your excellent professional help and guidance, in particular for the charming calm manner in which you assisted me. Your help made a torrid experience considerably more bearable than it might otherwise have been”

Ms H 2010


“Your advice was the best out of all the lawyers I went to regarding this matter” Ms CA 2010


“Thank you for dealing with this. Although we did not recoup all of our losses, the final settlement is easily enough to make us happy that we do not have to waste further time going through the lengthy court process”

Mr B 2010
(Dispute Settled by Mediation)

“May I take this opportunity to thank you for the service you have provided and let you know how much it is appreciated”.

Mr C 2010


* Impact of Litigation on Small Business, Klemm Analysis Group for the Small Business Administration, Office of Advocacy, USA 2005


For more information contact our Dispute Resolution Partner Andrew Isitt on 0208 862 8969 or email aisitt@edclord.com

EDC Lord donates Christmas Card fund to Hillingdon Hospital Children's ward

It is that time of the year again when we donate our money for charity instead of sending christmas cards. It has been sugested that we do a local charity this year and so funds raised will be given to Hillingdon Hospital Children's ward.

If you would like to donate please contact our Hayes Reception on 0208 848 9988.

EDC Lord Will Preparation Checklist

At EDC Lord we know that making the decision to write your Will can often be a daunting experience. So that we may assist you with this process we have drawn up a Will Preparation Checklist to help guide you.

If you need assistance in drafting a Will please feel free to contact our Private Client department for a no obligation discussion on 020 8848 9988.

EDC Lord Will Preparation Checklist.

1. Personal information about both you and your spouse
Full legal names
Address and telephone numbers
Occupations
Date and place of births
Full names and date of births of all your children
Information about your children: are they adopted, infirm, born out of wedlock or are your children from a previous relationship?
2. Information about your marital status
Date and place of current marriage
Do you have a marriage contract?
Information about previous marriages
Any children of previous marriage?
Is prior spouse still alive?
Are there any existing separation agreements?
3. Summary of your Assets
Cash and bank accounts, where located, and account number
Life insurance policies
With who, for what amount, and who is the beneficiary (designated or to your estate)?
Any securities, pension plans, annuities, RRSPs or RRIFs?
With who, what amount, and is there a designated beneficiary?
Your principal residence (home)
Type of ownership: sole, joint tenants or tenants-in-common
Current market value, amount of your equity and mortgages
Similar information on any other real estate
Information on businesses owned: proprietorships, partnerships or private companies you have an interest in
Any inheritance expected or other money or assets you are expecting?
Your personal effects
Make a list of household furnishings, cars, boats, jewellery and other personal belongings of sentimental value
Location of Safety Deposit Box and important papers
4. Summary of your Debts
List any debts, such as loans, mortgages, guarantees, promissory notes, and amount owed and to whom

London Property Mingle

EDC Lord will be represented at a new event in London called the London Property Mingle. As part of our heritage EDC Lord endeavours to maintain a highly visable presence in the Property market, details of the event can be found below.

The London Property Mingle is London 's newest property networking event. This event promises to be the most friendly and useful in terms of value for money and the contacts that you will make.Property professionals from all disciplines will be attending so the opportunity will be there to learn from each other, bounce ideas, pass on information and to network.
Our guest speaker for December is Vanessa Warwick who will be speaking to us on the “Leveraging the power of on-line forums and resources for learning, networking, deal and JV sourcing”.Vanessa and her husband Nick Tadd are consistently one of the most visible couples in the fast moving world of property investment! This dynamic husband and wife duo are primarily full-time Landlords since 2006, with a property portfolio of 20 properties, engaged with property 24/7/365 and are known for their no-nonsense and pragmatic view towards property.
The London Property Mingle will be held on Tuesday 7th December 2010, 7.00pm- 10.00pm. Venue: Upstairs at The Bridge House, 218 Tower Bridge Road, Southwark, London SE1 2UP. The Bridge House is located on the southside of Tower Bridge facing City Hall. Parking: Free parking in the area after 6.30pm.Nearest BR: London Bridge. Nearest Tube: London Bridge and Tower Hill. Nearest DLR: Tower Gateway (all 10 minutes walk away). Buses: RV1, 42, 78, 188 all stop right outside the venue.Entrance fee to the event is £10.00 in advance and £15.00 at the door. To purchase your ticket in advance please go to http://londonpropertymingle.eventbrite.com/

The London Property Mingle donates 10% of it's proceeds to Cheer. Cheer is a leading charity for the encouragement, healing and restoration of those who find themselves parenting alone.

Pain In Spain

Our Dispute Resolution Partner, Andrew Isitt recently took part in the 10th International Volta a Menorca cycling event, which is run in October each year in Menorca, Spain. Although strictly not a race, the event is ridden by approx. 400 amateur riders from all over Europe, and beyond , with riders from the USA, Canada , New Zealand and Australia also taking part this year. In addition to the keen amateur riders the organisers invite a small group of professional riders each year. This year a number of Spanish Tour de France riders were invited, including Carlos Sastre (winner in 2008) and Pedro Delgado (1988) , together with Lance Armstrong’s Radioshack team-mate Chechu Rubiera. The event is run over 3 days Friday to Sunday and covers a total of 150 miles along Menorca’s picturesque, and far-from-flat back roads. The last stage on Sunday includes an ascent of the fear-inducing Monte Toro, the islands highest peak, which at 3 kilometres with an average gradient of 10% and maximum 18% is a real test for riders (going up) and bikes
( coming down again!). Andrew is a veteran of the event, having ridden it 5 times in previous years. He prepares for it by riding around 100miles per week throughout the year, including commuting to work by bike: even last winter’s deep snow saw him slipping and sliding to the office on his mountain bike! Andrew says: “ this is a fantastic event at a great time of year, when for a few days I can leave behind the gloom of Autumn in the UK and re-charge my batteries in the Spanish sunshine. Climbing Monte Toro never gets any easier, mind, but it’s a unique opportunity to ride with some of the world’s top professional cyclists, and a chance to meet and swap stories with amateur riders from all over the world, in a really friendly and welcoming atmosphere”. A report of this year’s event is due to appear in Cycling Weekly magazine soon.

New Website coming soon.

At EDC Lord we are committed to keeping up to date with new technology and new trends, we are delighted to announce that our new updated website will be launched in January 2011. Please stay tuned for more news on this exciting development.

Linkedin Group

EDC Lord now has its own dedicated Linkedin group. As part of our modern approach to changes in the Legal sector we invite all Clients to join with us online and to be kept updated on all things EDC Lord.

Free Wills Month

Last Month the Head of the Private Client department, Nick Goodheart, took part in Free Wills Month as part of EDC Lord's commitment to local charities, Nick drafted Wills free of charge for this worthy cause. You can find out more about free Wills month here http://www.freewillsmonth.org.uk/ . If you need assistance in drafting a Will please feel free to contact our Private Client department for a no obligation discussion on 020 8848 9988.

Welcome to the EDC Lord News Blog

Welcome to our News Blog.

In this 1'st posting we would like to take the opportunity to welcome you to our News Blog where you will be able to find regular News updates from EDC Lord & Co Solicitors, where you will also find interesting articles from our contributors and be kept informed about any of the latest offers we are running.

We hope you find our News Blog interesting and will appreciate any feedback from you in the coming months.