EXCLUSIVE: Reservation Agreements move forward as final text is agreed

first_imgThe government’s plans to introduce Reservation Agreements have taken a step forward after industry consultation group the Home Buying & Selling Group (HBSG) headed up by Kate Faulkner (pictured, above), revealed that the wording for the agreements has been finalised.Full details of what has been agreed are due to be released in the weeks after the New Year, Faulkner has told The Negotiator.“Now the document is agreed, we can get cross-sector opinion on whether these agreements are a good idea and that’s going through a research phase which the government is managing,” she says.As well as work on the government’s ‘How to..’ guides this is the first significant work to come from the HBSG, which is a testing ground for proposed government policies and ideas designed to help make home moving ‘cheaper, faster and less stressful’.The cross-party nature of the work on Reservation Agreements is crucial; many agents will remember what happened when Labour disastrously tried to bring in HIPs without substantial cooperation from, in particular, estate agents.Who’s in it?The HBSG includes 150 cross-sector representatives including from the ministry of housing, estate agencies, portals, mortgage lenders, conveyancers, redress schemes, consumer groups such as the HOA and removals firms and has been drawn together over the past two years.Faulkner says it is also working on several other areas of the home buying and selling process including government plans for leasehold reform, up-front property information gathering prior to sale, and better education of consumers about the buying process.“There are loads of complications with leaseholds at the moment and we have a working group looking at that and we’ll an announcement about that soon,” says Faulkner.Read more about Reservation Agreements. HOA kate faulkner reservation agreements The Ministry of Housing December 6, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » EXCLUSIVE: Reservation Agreements move forward as final text is agreed previous nextRegulation & LawEXCLUSIVE: Reservation Agreements move forward as final text is agreedKate Faulkner’s Home Buying & Selling Group has worked with a cross-party group of industry representatives to nail down a version of the agreement which is due to be trialled next month.Nigel Lewis6th December 201901,489 Viewslast_img read more

2-day CUAC meeting features remittance, debt collection talks

first_imgCUNA attended the two-day meeting of the Consumer Financial Protection Bureau’s (CFPB) Credit Union Advisory Council Wednesday and Thursday. The CUAC advises the bureau on regulating consumer financial products or services, from the perspectives of credit unions and is comprised solely of CUNA member credit unions.The first day included a discussion of faster payments, remittances and the CFPB’s “Start Small, Save Up” initiative, a financial education initiative to encourage savings.The CFPB recently issued a request for information on remittances, and the CUAC provided feedback during the meeting on how the current rule has impacted member service and offered recommendations to improve the rule.CUNA supports raising the “normal course of business” threshold in the rule to 1,000 remittances per year. Comments are due to the CFPB June 28. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more