17th March 2025
The last two phases of the Material Information rules governing the information that estate agents have to provide have now been released by the National Trading Standards Estate and Letting Agency Team (‘NTSELAT’). With the new guidance, conveyancers will need to work with Estate Agents to ensure that the correct information is gathered before marketing a property for sale.
Director and Head of Residential Conveyancing Rachel Silvester at Myers and Co, said:
‘I am really pleased that the much-anticipated final guidance on what is ‘Material Information’ has been published. Part B and Part C of the guidance state what information must be made freely available to potential buyers by Estate Agents. We greatly welcome the new guidance, which means that Agents must now disclose more property-specific information during the marketing of a property so that potential buyers are better informed before making an offer.
The information will allow buyers to better assess the risks and implications of buying their ‘dream home’ before they decide to make an offer and is of real benefit to potential buyers.
Key to providing that benefit is ensuring that the material information is current and accurate. NTSELAT suggests that home-owners engage the services of a conveyancer in gathering the information. Again, I support that suggestion wholeheartedly.
Here at Myers and Co we look forward to working with home-owners and their Estate Agents for each other’s benefit and the benefit of those buying or selling property, to collate and verify the necessary management information required to follow the guidance correctly. We encourage sellers to instruct us before their property is marketed for sale. Engaging us at that stage will also reduce transaction times once an offer has been made.’
For further information, please contact Rachel Silvester Head of the Residential Conveyancing team on 01782 577000 or email rachel.silvester@myerssolicitors.co.uk. Myers & Co has offices in Stoke-on-Trent, Staffordshire.
