Tension has been simmering in the residential property sector over the best way to speed up the home buying and selling process and reduce fall-throughs. In certain forums the debate has tipped over into name-calling, which is poor form.

The latest blast of bombast came from the self-styled Property Lawyers Action Group (PLAG), which has written to National Trading Standards over its material information guidance.

PLAG is not happy, to say the least, about the guidance, which details the minimum amount of material information expected in a property listing. Property agents are obliged under the Consumer Protection Regulations not to omit any material information, but PLAG believes much of the responsibility of compliance will indirectly fall on sellers’ shoulders.

The letter describes the requirement as ‘simply a reinvention of the ill-fated HIPS [home information packs]’ and an ‘unwanted sequel to a box office bomb’.

National Trading Standards says property agents have expressed support for mandatory disclosure of material information and retorted that it worked closely with the legal profession to develop and refine the guidance. That said, it ‘always welcomes any new information, evidence and ideas’.

Pass the popcorn for ‘Material Information 3 – this time it’s personal’.