Coronavirus Concern for UK Property Market

As the world scrambles to contain the coronavirus outbreak and find a cure, the economic repercussions are now more than just a concern. The virus, which was reported to have originated from Wuhan, China has caused a strain for those in the manufacturing industry whose production depends on parts sourced from China.

Misleading Information Raises CMA Concerns

The Competition and Markets Authority (CMA) is set to launch enforcement action against housing developers who have unfairly treated leasehold homeowners and misled prospective buyers. This after evidence of possible mis-selling and unfair contract terms were found.

Reforms on Referral Fees Seen Soon

With the goal of ensuring referral fees be made more transparent and open to consumers, the National Trading Standards Estate and Letting Agency Team or NTSELAT, in collaboration with the NAEA Propertymark, The Property Ombudsman (TPO) and other industry bodies, published the February 2019 guidelines on referral fees received by estate agents across the UK. NTSELAT was to observe estate agents’ compliance with the guidelines and report their observations to the Ministers.

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