Following our webinar, ‘Understand Material Information Parts B&C and how to stay compliant’ industry expert Beth Rudolf, Director of Delivery at the Conveyancing Association has taken the time to answer questions received that weren’t answered live during the webinar.
Broadband installation type may be available from: https://www.openreach.com/fibre-broadband
Where a property has an exclusive or dedicated broadband supplier (e.g., on a new build property estate), a property listing should include whether the buyer has the ability to change provider on the open market. Where there is no primary broadband infrastructure/supply, property listings should include other relevant options that allow internet connection (e.g., satellite or mobile). For an indication of specific speeds and supply or coverage in the area, we recommend signposting potential buyers to the Ofcom checker.
The agent is liable under the Consumer Protection from Unfair Trading Regulations 2008 (CPRs), however, the seller is also liable under the Misrepresentation Act, if there is evidence that they had information that contradicts what they told the agent. Agents can verify information from the seller via a third party e.g. Local Authority.
The repercussions are the same as they are now, if it caused the buyer or potential buyer a loss then they can bring a complaint against the agent. Mismarketing is the second biggest cause of complaints in The Property Ombudsman Scheme (TPOS) report.
The buyer is then aware of the offer they are making and that they will have to rely on their conveyancer’s due diligence. They cannot successfully complain so long as the agent states that the information was missing or not up to date.
Check the contents and the provenance of the contents. If it covers and verifies the information required in the guidance, then that will be ok.
An agent can rely on a third party but should do due diligence to ensure that their sources and systems authenticate the provenance of the data to meet the verification requirements.
The CPRs take account of the limitations of the medium used, such as available space to include all relevant information. For example, a single A4 sized paper advert in a window may have less detailed information than an online advert. However, agents should consider the priority that is given to the material information that is included in communications. Where space is limited, reference should be made to where or how the relevant material information may be found.
There is no stated date and NTSELAT will consider complaints as they come in. It will take some time for portals to complete the development of their systems, but Estate Agents can add a summary of the Material Information to their property advert as of today.
If there is no owner or occupier with the capacity to share the relevant information about the property and this cannot be obtained from another authoritative body, then the agent cannot provide the Material Information for the property.
Below is a condensed summary of the Material Information listed in the NSLEATs guidance document that should be established for property marketing, however it is important to consult the full guidance to ensure you have covered all bases:
Part A: Information that, regardless of outcome, is always considered material for all properties regardless of location.
Part B: Information that should be established for all properties.
Part C: Information that may or may not need to be established, depending on whether the property is affected or impacted by the issue in question.
You can find this here: https://www.nationaltradingstandards.uk/work-areas/estate-agency-team/material-information/
No, NTSELAT did not want to impose a template this is for the estate agent to decide.
They are the same as any leasehold and everything will apply plus the equity share being sold and rent to cover the remaining share being retained.
That is your commercial decision. With movebutler, searches are ordered much sooner than the normal process, on solicitor instruction, to help speed up completion. These are paid for by the buyer once the offer is accepted, and as long as the agent is authoritative, there is no push back.
Yes, but the property can be advertised highlighting that the information is incomplete and updated when the search comes in. So long as the search has been ordered you can demonstrate that you are trying to comply.
So long as the agent marks the property information as incomplete and the buyer proceeds on that basis then that is their choice. However, a registered title can be downloaded within minutes so an agent should be able to get the Material Information by the time they get the photos and the floorplan ready to go, potentially with search information to be updated on receipt of the searches which take on average 10 days.
All the Material Information that applies to that property.
If a property is not registered at HMLR the seller’s conveyancer should provide the Material Information summary on title from the unregistered title deeds.
Take the stress and hassle out of Material Information with our new pre-populated forms with Material Property Information, aligning with NTSELAT's guidance, and giving you much-needed time back.
Designed to take the stress and hassle out of Material Information, our upcoming enhancements will offer you and your clients pre-populated forms with material property information.
To help dispel these myths we caught up with Beth Rudolf, Director of Delivery at The Conveyancing Association, to discuss overcoming the perceived barriers to a consumer-focused home moving process.
Following the release of Material Information Parts B & C, we hosted a webinar to help Estate Agents understand the new rules, how to stay compliant and how to capitalise on it's opportunities.
Pre-populated Material Information forms are here!
Take the hassle out of Material Information with our most recent innovation
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