NTSELAT steps up consumer campaign on Material Information

The National Trading Standards Estate and Letting Agency Team has released a video for would-be home buyers and sellers explaining ‘how property listings are changing’.

ntselat trading standards

The National Trading Standards Estate and Letting Agency Team (NTSELAT) has released a video for would-be home buyers and sellers explaining ‘how property listings are changing’.

Guidance for agents meeting their material information obligations developed in partnership with industry leaders and the UK’s major property portals was released back in July.

The new NTSELAT video runs at 3 minutes and 50 seconds and covers the first stage of what is required from agents and portals to ensure listings include sale or rental price, council tax band (or property rates in NI), unavoidable costs and tenures information – such as leasehold, freehold or commonhold.

CHANGING

The video says: “Property listings are changing. If you are searching for a property to rent or buy you might notice that the property adverts now give you more detail than they used to.

“This is to help you make a more informed decision whether it might be the right home for you or make further enquiries about.

ESSENTIAL

“These essential details are referred to as material information are appearing on property adverts such as those found on a property website or an agents particulars and provides some of the information you need to know before deciding to go ahead.

“This information is designed to make the property process more straightforward., saving you time and helping you to choose property that is more likely to fit your needs. Having essential information up front will help you make those important early decisions.

Property websites and estate and letting agents will be adding this information to their adverts in three stages.”

“Property websites and estate and letting agents will be adding this information to their adverts in three stages. To start with details about unavoidable costs will be included.”

Under current legislation, as set out in the Consumer Protection from Unfair Trading Regulations 2008, estate and letting agents have a legal obligation not to omit material information from property listings.

Watch the video.


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