CA urges member firms to endorse new HBSG pledges

The Conveyancing Association (CA) has urged its member firms to endorse a series of new home buying and selling pledges for property stakeholders.

The trade body for the conveyancing industry indicated that its new pledges are designed to make the progress of transactions as quick and smooth as possible.
 
The pledges have been put together by the Home Buying & Selling Group (HBSG) which suggested a more streamlined sales process can cut down the average time taken to complete a transaction, currently 20 weeks, to give purchasers the best chance of taking advantage of the government’s stamp duty holiday which runs out at the end of March 2021.

The HBSG said that sellers should instruct their property lawyer on the same day as they market their property, filling in the property information forms provided to them as soon as possible. The guidance also suggests that buyers should make sure they have received a ‘mortgage offer in principle’ or if paying with cash, make sure they have evidence of the funding available to them.

The CA added that it is “fully supportive” of sellers and buyers taking these measures and wants its member firms to spread the message of the pledges to help process sales and purchases in the quickest time possible.

CA director of delivery, Beth Rudolf, commented: “Post-lockdown, there is a considerable amount of focus on what we can do as an entire industry to speed up the home buying and selling process. In order to get to completion as possible, every single stakeholder can make – and follow – these specific HBSG pledges that are relevant to them.
 
“We all know that, when working for the seller, the sooner the conveyancer can begin carrying out the legal work, the quicker they can prepare the sale contract, and the better chance we have of hitting the ground running. Also, by checking the title of the property upfront we can head off any potential issues or problems early on, ensure no documents are missing, and again process the transaction far more quickly.
 
“We have a real opportunity here to improve the home buying and selling process for every single person involved in it, and these industry pledges will go a long way to doing just that.”
 
Housing Minister, Christopher Pincher, added: “This government is committed to ensuring the housing market works for everyone, and our work with the industry has helped to restart the market in a way that is safe. I welcome this pledge from the industry and look forward to seeing it deliver a smoother and more efficient experience for all those looking to buy or sell their home.”

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