Latest News

NCA money laundering investigation results in multi-million-pound asset recovery

24 May 2019

The National Crime Agency (NCA) recovered around £6 million worth of assets including an award-winning luxury hotel and a £100,000 Bentley from alleged members of an international money laundering group after an eight-year investigation. Read More...

Revised Codes of Practice issued by the Property Ombudsman

24 May 2019

On 1 June, The Property Ombudsman (TPO) scheme’s updated Codes of Practice will become effective. The revisions are substantial, and incorporate the Tenant Fees Act 2019, Client Money Protection and GDPR requirements. Read More...

Scotland’s house prices growing faster than the rest of the UK

24 May 2019

March 2019’s monthly UK house price index shows the average price for a property in Scotland is now £149,461 which is a welcoming 3.3% increase compared to the figures of March 2018. Read More...

Annual growth of 3.5% in Northern Ireland house market

24 May 2019

The latest Northern Ireland Residential Property Price Index covering the first quarter of the year has shown an annual growth of 3.5% compared to the same period in 2018. Read More...

Opinion of Scottish Legal Counsel received on Short Assured Tenancies

22 May 2019

ARLA Propertymark has sought Opinion of Counsel on the status of existing Short Assured Tenancies (SAT) following the Private Housing Tenancies (Scotland) Act 2016 coming into force. Read More...

The most affordable homes in England and Wales

22 May 2019

The latest data from the Office of National Statistics has revealed where the most affordable places to buy a home are in England and Wales based on the ratio of the average salary and the average property price. Read More...

Government release consumer how to buy and sell guides

Tuesday 07 May 2019

Official guidance for homeowners and prospective homeowners has been released covering ‘How to Buy’ and ‘How to Sell’ properties in England and Wales.

Both guides include a glossary of terms as a jargon buster for consumers and lay out the process for buyers and sellers in clear steps covering mainly freehold properties. Both guides have many mirrored topics and helpful hints on moving preparations and post-move. Other topics include:

  • Leasehold or freehold
  • Referrals
  • Searches
  • Instructing a legal representative
  • Negotiating
  • Exchange and deposit

View guides - How to Buy and How to Sell.

All estate agents should make use of these guides to make consumers aware. Official Government guidance is an extremely good resource to fall back on. These are a positive outcome to a  Propertymark consultation response on Improving the Home Buying and Selling Process where we called for additional ‘How to’ guides to make consumers aware of the purchasing or selling process, which organisations can help and where to go for further information.

Mark Hayward, Chief Executive, NAEA Propertymark comments on the publication of the Government’s Help to Buy/How to Sell guides: “These guides will be a very helpful source of information to consumers in understanding the house-buying and selling process. Arming consumers with the right sorts of questions to ask will make them much more informed and the process easier in the longer term.”

Referral Fees Transparency

Both guides outline referral fees, and all agents need to be transparent with regards to these. The industry is in a period of review regarding referral fees, with the announcement on 28 February that new guidance on the transparency of fees would be released, and subsequent communication from The National Trading Standards Estate Agency Team (NTSEAT) to make previously hidden fees open and transparent to consumers. Heather Wheeler, Parliamentary Under Secretary of State at the Ministry of Housing, Communities and Local Government made it clear that the Government would consider banning fees if the industry could not achieve the transparency.

New Guidance on Fees from Trading Standards
Referral Fees Guidance must be taken seriously

ID checks

With the threat of money laundering and fraud, all estate agents, lawyers and mortgage lenders are required by law to check identities. Consumers need to be aware that this may happen during several stages of the property buying or selling process.

Propertymark Passport, a Propertymark member benefit, enables members to verify customers’ identities and support compliance with HMRC Regulations and anti-money laundering.

Leasehold reform

The new ‘How to’ guides link to other steps in the Government’s measures to improve the house buying and selling process, namely leasehold reform -  How to Lease Guide. Propertymark produced its own research and importantly the understanding leasehold guide for estate agents. All positives in educating the consumer and making them informed as possible.

Propertymark resources

Consumer advice and guides

A go-to organisation for answers to property related questions where we unite the experience and know-how of the five leading membership organisations for property lettings, sales and auctions to create a single voice in the property industry. View information

Training

Propertymark training courses on Competent Agent through to Sales Progression: A Practical Toolkit keep agents ahead of the game – view the full range.

Qualifications

Propertymark Qualifications is the UK's specialist awarding organisation offering national, industry recognised qualifications in property and property related disciplines. Find out how to get qualified.

Membership

Membership of NAEA Propertymark gives individuals, the credibility of being part of a respected association along with a whole host of other benefits. NAEA Propertymark believes estate agents should be regulated, both to protect the consumer and to encourage and maintain the highest standards within the property sector.

Join NAEA Propertymark