A group of some of the biggest names in the industry have joined together to create a new property group to experiment with the idea of binding offers or reservations in order to address the fall-through statistics and improve home buying for all invovled.
The Home Buying and Selling Group is made up of estate and letting agents, as well as property lawyers, mortgage lenders and representatives from organisations including Rightmove, the Land Registry, the Law Society, the Society of Licensed Conveyancers, Conveyancing Association, Bold Legal Group, RPSA, Northwoods, The Property Ombudsman, Emoov, and the Building Societies Association.
The group had its first meeting, chaired by property analyst Kate Faulkner of Propertychecklists.co.uk, and hosted by TwentyCi. Matt Prior, from the Ministry of Housing Communities and Local Government, was also at the meeting.
The group discussed problems faced by consumers when buying a home and put forward suggestions for easing the situation.
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