Think-tank calls on chancellor to scrap Stamp Duty
Getting rid of Stamp Duty would boost not only the housing market but the UK’s wider competitiveness, a conservative think-tank…More
Property professionals including lawyers, estate agents, surveyors and others have signed up to an “industry pledge” designed to encourage sellers to instruct a solicitor at the same time as, or before, they put their property on the market.
The pledge is designed to allow as much information to be shared between buyers and sellers as early in the process as possible in a bid to prevent unforeseen issues arising and sales collapsing.
Among its recommendations is a request for buyers to instruct a lawyer before making an offer so their information can be checked and money laundering due diligence carried out.
The innovation comes from the Home Buying and Selling Group (HBSG), which comprises 120 relevant organisations and advises the government.
According to the Legal Futures website, the HSBG said it hoped to get interested parties across the property sector, “to work together to offer consistent advice to consumers” to ensure that all the information affecting a sale or purchase, could be shared as soon as possible.
Organisations that have signed the pledge include the Law Society, NAEA Propertymark and the Royal Institution of Chartered Surveyors.
Housing minister Christopher Pincher said: “I welcome this pledge from the industry and look forward to seeing it deliver a smoother and more efficient experience for all those looking to buy or sell their home.”
Any organisations and firms interested in signing up to the pledge should email: firstname.lastname@example.org