We all know that the current home buying and selling process in England and Wales is stressful, time consuming and potentially costly for buyers and sellers alike.
In its latest response on the issue the Government has stated that real questions have been raised about the quality of advice and services that consumers are receiving. The Government has also concluded that there is no “silver bullet” but instead there are a number of practical changes which they hope to make.
Included within the Government’s proposals are that these fees, paid by conveyancers or mortgage brokers to estate agents or builders in exchange for referring or recommending business to them, need to be scrutinised.
In order to ensure that consumers are given an informed choice and are fairly treated the Government is proposing that customers are made aware of the potential referral fee and that it will also look more closely at banning these referral fees altogether.
At Cartmell Shepherd we are truly independent. We do not pay referral fees or any other type of incentive to estate agents or builders in order for them to refer purchasers or sellers to us. In our view this creates a conflict of interest between us on the one hand, giving proper and independent advice to our clients, and yet on the other hand being potentially reliant upon that client being referred to us.
This is another area which the Government has looked at. Its conclusion is that it wants to develop quality standards and kite marks so that consumers feel confident that they are getting a good level of service.
At Cartmell Shepherd all of our conveyancers and/or solicitors who are involved in the home buying and selling process are CQS accredited. This means that the firm is a member of the Law Society’s Conveyancing Quality Scheme – the mark of excellence for the home buying process. This is at least the fifth year which we have been members and the firm has 16 solicitors and experienced residential conveyancers registered with the scheme.
The Government’s proposals will undoubtedly take time to be debated further before any changes are made, let alone become law. Here at Cartmell Shepherd you are already assured of independent, high quality advice from a local firm with offices in Carlisle, Penrith, Brampton, Haltwhistle and West Cumbria.
Call us today on 01228 516666 or email our property experts at email@example.com.