TrustMark Press Releases

THE HOME BUYING AND SELLING GROUP (HBSG) TO COLLABORATE WITH TRUSTMARK TO ASSIST IN SCHEME

Dec 9, 2019, 12:08 PM by TrustMark

The Home Buying and Selling Group (HBSG) was created to improve the home buying and selling process for consumers. 


It was set up shortly after the 2017 Government’s Call for Evidence which sought views on how to make the process of home buying and selling cheaper, faster and less stressful. In part, the idea of the group was to help the industry and government work closely together to achieve these aims. 


The Ministry for Housing Communities and Local Government are attendees. 


However, it was also set up to ensure the many different sectors which are required by individuals to buy and sell a home including finance, insurance, agents, property lawyers, searches, surveying, proptech and removal organisations and associated companies all work closely together to make the process more seamless for consumers. To achieve this, the HBSG works on initiatives in addition to those set out in the Government’s Call for Evidence. 


The HBSG is chaired by Kate Faulkner, one of the UK’s property experts and is an informal mix of people from consumer groups, property portals, regulators, redress schemes, trade and representative bodies and companies that help people to move on a daily basis. 


To date the HBSG has inputted into the Government’s new ‘how to’ guides and the leasehold consultation. It has helped with The Property Ombudsman’s review of their sales (and lettings) Code of Practice and the recent Royal Institution of Chartered Surveyors new Home Survey Standard. 


The HBSG sub working groups have agreed standard wording for a Reservation Agreement between buyer and seller for the Government to use in their research; created a new upfront online information questionnaire for sellers and are working on cross industry data provision, education and more collaborative ways of working together. 


Simon Ayres, CEO of TrustMark, speaking about the scheme, said “TrustMark is pleased to support the Home Buying and Selling group in its desire to achieve a reduced level of complication when buying and selling a property.  A key aspect of delivering this initiative is using all available data and technology to simplify the actions, communications and compliance requirements to complete a transaction. TrustMark is working alongside the main group to bring a level of collaboration that is needed when checking data on a property.

We look forward to supporting these developments over the next months and helping a new streamlined service to improve completion rates and timely transaction fulfilment.”


For more information about the HBSG please contact the Chair, Kate Faulkner via enquiries@designsonproperty.co.uk or on 07974 750562.