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Thu 21 Sep 2017

JPC Law attend their 1st ASTL Conference

JPC Law attend their 1st ASTL Conference
On Thursday, 14th September Steven Porter, Surina CohenSarah Ireland and Shamini Soma attended the ASTL Conference - JPC’s first conference since becoming an associated member of ASTL in July 2017.

The annual conference was extremely well attended and it was a pleasure to see some of our clients and to meet other members of ASTL including Benson Hersch, the CEO of ASTL. Many of the attendees paid our stand a visit including Dino Wyatt from FinCorp who won our Buzzwire challenge!

Benson Hersch gave a lovely (but frightening) introduction to the conference focusing on the current level of debt of the country. This was followed by Faisal Choudhry of Savills who gave a very informed and detailed analysis of the UK property market over the last 10 years since the global financial crisis. Important points raised included:

  • The Buy to let market is facing pressure due  to increased regulations including SDLT
  • Lending criteria is tight due to increased regulations
  • As a result of the credit crunch cash is now king and there is pressure on larger deposits
  • International buyers are still investing in property in London

Lorna O’Brien from FCA then presented on the FCA’s views and discussed some upcoming changes to FCA regulations. In addition she:

  • Reminded members who are FCA regulated of their obligations to report to the FCA on regulated activity. This will, amongst other things, enable the data which the FCA collates to be more accurate.
  • outlined how short term lending fits into the lending market.

Rob Lankey ex Aldermore and NACFB spoke about the relationship between brokers and lenders. He highlighted the importance of this relationship as both parties are working towards the same goal and need to work in the best interest of the client. This is also important for solicitors working with brokers and lenders for the same reason.

The conference continued with Peter Andrews from The Bank of England who led an interesting discussion on financial policy updates and the economic outlook. His presentation started moments after the Bank of England released information regarding interest rates not increasing.

Michael Booth QC gave a very entertaining but alarming talk about the frightening world of fraud and how sophisticated it is becoming along with how susceptible we and the market are to such fraud. He talked about how his own identity had been used in fraudulent emails sent. The emails contained a link to his existing Chambers profile which made the email and the scam look authentic. One eagle eyed receiver noticed that the email address did not match the email on the Chambers website and the scam was brought to an end.

The final speaker of the day was Tim Shipman from Sunday Times who gave a wonderfully entertaining presentation about the battle for Brexit, the mayhem that followed and the uncertainty that we are now facing. He included his own political anecdotes regarding various political parties which left us all laughing into the lunch break.

For JPC, it was a great introduction to ASTL and we look forward to upcoming events, the next being the General Associates meeting on 18th October in Manchester!

Surina Cohen (Partner) and Sarah Ireland (Commercial Paralegal)

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