More and more consumers are now aware of their right to compensation when things go wrong in the property market which has helped double the number of cases handled by the UK’s leading redress scheme last year.
The Property Redress Scheme (PRS) says it issued 77 final decisions during 2018, up 103% from 38 the year before, and awarded £300,000 to complainants.
The most common grievances against sales agents were about misleading or incorrect information and bad communications, while for letting agents it was breach of duty of care and poor service and complaint handling.
“Our scheme continued to grow steadily in the first three quarters of 2018 and this reflected a still expanding market, better enforcement of the regulations and much higher awareness of the legislation,” says Sean Hooker, Head of Redress at the PRS (left).
“2018 was a fundamental year for the Property Redress Scheme, and this was mirrored in the wider sector, as further developments in the Government’s “project” to reform the housing market started to take shape”.
The PRS is the largest redress scheme in the UK with close to 11,000 estate agency branches signed up, helped by the closure of rival Ombudsman Services: Property in August last year.
PRS has released its annual report, which reveals that out of all the agents it expelled from the scheme last year, 48% came from London and 14% from the North West.
Its average award was £1,102 but last year it also made an award of £25,000 in favour of one landlord whose agent had failed to pass on rent and behaved unprofessionally.