Customer Area

Trading Standards announced the material information rules are set to undergo a major update

Earlier this year, Trading Standards announced the material information rules are set to undergo a major update with information required prior to the marketing of a property.  James Munro of NTSELAT announced that early stages of information on utilities, building safety issues, and flood risks would be rolled out in autumn of this year, marking the start of phase two of the intended updates.

Part B material information pertains to information that agents must share for every property they deal with. This principally concerns utilities and non-standard features that would affect someone’s decision to continue with the property and includes information on parking, construction, and utilities options, among others.

Meanwhile, Part C guidelines require agents to include additional material information that may or may not need to be established, depending on whether the property is impacted by the information.

This pertains to properties affected by issues such as location, which includes conservation area inclusion, listed status, easements, building safety, and whether the property is on a known flood plain. This will assist homebuyers or renters in their search for a home.

According to Richard Mathias, James Munro confirmed at the recent Property Mark conference in Harrogate that parts B&C will be released near the end of November  These updates aim to promote transparency and assist homebuyers and renters in making better-informed decisions.