Conveyancers are facing fresh uncertainty this week after the National Trading Standards Estate and Letting Agency Team withdrew guidance on material information for estate and letting agents. The Law Society said it seeking ‘urgent clarification’ on what information solicitors should now provide under new legislation.
A message on the webpage which previously hosted the NTSELAT guidance now says: ‘The development of guidance on material information was based on supporting estate and letting agents to meet their legal obligations under Consumer Protection from Unfair Trading Regulations 2008. These regulations have since been superseded and replaced by the new Digital Markets, Competition and Consumers Act 2024. In light of this, the guidance on material information for estate agents and letting agents has been withdrawn.’
How this will affect development of the new TA6 property form, which has been the subject of much controversy, is unclear. TA6 was updated last year to support the National Trading Standards guidance on material information required for property listings. However, with the guidance proving divisive, the Society paused compulsory use of the fifth edition of the property information form to engage with members.
In March this year, Chancery Lane announced a two-form approach to make the TA6 property information process ‘straightforward and easy to understand’ for conveyancing solicitors and their clients.
Commenting on withdrawal of the NTSELAT guidance, Law Society vice president Mark Evans said: ‘NTSELAT have left consumers, conveyancers and estate agents in the dark by the immediate withdrawal of the material information guidance issued in November 2023. We are urgently seeking further clarification on the information that should be provided in accordance with the Digital Markets, Competition and Consumers Act 2024.’
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