You are here: Home - News -

Trade body launches working group into homebuying failures

by:
  • 22/06/2016
  • 0
Trade body launches working group into homebuying failures
Trade body, the Conveyancing Association (CA), has launched a working group focusing on how legal support for homebuyers can be made faster and more transparent.

A ‘call for evidence’ on the homebuying process which was announced in the Budget in March is set to be published by the government later in the year and will focus on how to cut down on the thousands of transactions that fail to come into fruition for purchasers.

The CA’s group will be made up of executive, management committee and member firm representatives, with the intention of presenting its own White Paper at the Association’s conference in December.

Industry stakeholders have been working closely with the Department for Business, Innovation and Skills (BIS), on what is expected to be a drive to increase transparency and certainty between all parties and the provision of more information to potential purchasers up-front.

Beth Rudolf, director of delivery at the Conveyancing Association, said the forthcoming call for evidence presented a “real opportunity” to establish change in the homebuying process.

“Our ongoing campaigns will feed into this in areas such as tackling fraud, improving the leasehold process and working with lenders to cut down on delays between them and conveyancers. However, given the depth and breadth of this government initiative, this represents the chance to draw a line in the sand and to help formulate and develop how the conveyancing process should look like in the future,” she added.

“There was significant interest from many members to be involved [in the working group] and we believe our work in this area will be able to provide valuable experience and insight into how the BIS might wish to proceed. This feels like a pivotal moment for how the home-buying process develops and the CA is committed to ensuring the views of our members are fully represented and we are able to support the BIS in delivering on what are sure to be some wide-reaching aims and ambitions.”

There are 0 Comment(s)

You may also be interested in

Read previous post:
Building societies beating banks in mortgage rate war

Mutuals are beating banks “hands down” in the battle to achieve the lowest mortgage rates, data published by Moneyfacts reveals.

Close