New proposals aim to make moving home easier, quicker and safer
Published: 25 April 2017
Category: Legal News
Wide-ranging proposals to streamline the process of buying and selling homes have been put forward by the Conveyancing Association (CA).
- · Enhanced ID verification: helping develop a reliable product that reduces verification instances but increases certainty
- · E-Home Reports – upfront provision of information: providing a comprehensive collection of information upfront prior to the property being marketed
- · Reservation agreements: providing a standardised agreement to reduce uncertainty and create home mover choice
- · Completion certainty: enabling completion monies to be sent the day before completion to make moving home easier for clients on the day of completion
- · Leasehold reform: reducing the costs and delays associated with leasehold transactions, plus helping develop a redress scheme and support fair terms in new leases
- · Lending process improvements: creating the ability for buyers to obtain a reliable Decision-in-Principle, plus reduce post-offer queries and improve communication with lenders
- · Better search data provision: reducing costs and delays
- · A secure property portal: helping create a secure communications platform including a ‘Property Log Book’ for every property.
The CA says it should be possible to deliver some of these improvements with the cooperation of other industry stakeholders, and it will also be lobbying the government to secure support for changes that may require parliamentary approval.