‘Legislation might be necessary to increase uptake of condition reports’ – Countrywide
With only 10% of prospective home buyers commissioning a survey, Countrywide Surveying Services' Matthew Cumber is calling for action to protect them.
Countrywide Surveying Services’ (CSS) Matthew Cumber has hosted a high-profile roundtable event to address the critical role of condition reports in the home buying process.
The event brought together industry leaders from across the property, finance, and surveying sectors to discuss how to improve the uptake of condition reports and ensure that borrowers are fully informed when purchasing their homes.
Raising awareness
Much of the discussion focused on how to raise awareness of the importance of condition reports. They also discussed whether Government intervention would be necessary to drive change as well as addressing how barriers to their uptake could be reduced.
Matthew Cumber, Managing Director at Countrywide Surveying Services, commented: “The event was an incredibly valuable experience, leaving us with renewed energy and determination to continue these discussions with trade bodies, regulators, and the Government, with the goal of broadening the conversation.
This is all about understanding the consumer rationale.”
“After all, every stakeholder in the home buying and mortgage process has a duty of care to ensure purchasers are fully informed when buying their home.”
Beth Rudolf, Director of Delivery at The Conveyancing Association, said: “This is all about understanding the consumer rationale at different times. So within the home buying and selling process it’s about understanding that for sellers they want to know what they can do to improve the value and saleability of their property, while for buyers it’s about having the information on the physical condition of the property prior to offer.
“If both seller and buyers have what they want we’re going to have a much more effective process than currently, where only 10% of buyers for example, will instruct any type of survey. But, the condition report has to be consumer-centric to ensure it provides the information that would impact the average consumer’s decision-making process.”
