A senior member of the National Trading Standards Estate and Letting Agency Team (NTSELAT) has told agents to view new guidance for material information as a positive change.
Guy Welfare, investigator at NTSELAT, joined CEO of The Guild of Property Professionals, Iain McKenzie, on The Home Stretch podcast, to provide some clarity on Parts A, B and C of the Disclosure of Material Information guidance.
Welfare, a former letting agent based in Brighton, acknowledged that the guidance is in place to improve standards and processes. He said: “The more consumers know up front, the less wasted time you have. There will be less fall-throughs and less difficult conversations coming further down the line when something comes out in searches that was known beforehand. It’s just to make it a much more transparent, smoother process for everyone involved.”
He looked back at part A, released in 2022, and parts B and C, updated in November 2023.
He continued: “Part A is inclusive of council tax banding, domestic rate information, asking price, tenure and deposits for lettings. The main theme of Part A is inescapable costs. It’s looking at anything that you might have to pay when you go to look at a property to make sure you can afford it before you even go for a viewing.”
He went on: “Part B firstly looks at things like physical characteristics of a property. How an agent chooses to display this is completely up to them. Then we’re looking at utilities and parking as well. Part A and part B are things that should be on all listings. Part C is only if it’s relevant to the listing, such as building safety, restrictions and rights, flood and erosion risk, planning permission and proposals for development, property, accessibility and adaptations, and whether it’s on a coal field or mining area.”
To hear this conversation in full, listen to the latest episode on The Home Stretch podcast.
