Working Group to tackle failed housing transactions

The Conveyancing Association has established a Working Group to deliver its response to a Department for Business Innovation and Skills ‘Call for evidence’, which aims to cut down on the thousands of failed transactions that take place each year.

Related topics:  Finance News
Rozi Jones
22nd June 2016
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"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."

The CA believes the Government department will be seeking information on how they can increase transparency and certainty between all parties, cut down on unnecessary delays and costs, and to provide a smoother conveyancing process by providing more information to potential purchasers up-front.

The Working Group will be made up of the executive, management committee and member firm representatives and will seek to develop the Association’s own views on the process and the changes that should be made.

Beth Rudolf, Director of Delivery at the Conveyancing Association, commented: “While political events and regulatory intervention have dominated the agenda for some time, we see the publication of its forthcoming ‘Call for evidence’ by the BIS as presenting a real opportunity for the conveyancing profession to establish what we would like to see change and happen within the 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.

“At our recent Management Committee Meeting we decided to establish a Working Group which will specifically focus on the ‘Call for evidence’ and will develop our response to it via the publication of a White Paper. There was significant interest from many members to be involved 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.”

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