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29 September 2006
New regulator for the property search industry
The Property Codes Compliance Board (PCCB) has today been established to independently regulate private property search firms. Homebuyers paid for over four million property searches last year including information on planning applications, road schemes, environmental risks, water supplies and sewer connections. The PCCB will monitor compliance with the Search Code of Practice, maintain a central Register of all firms subscribing to the Code and discipline registered firms which fail to meet the standards.
Sponsored by the Council of Property Search Organisations (CoPSO), the Search Code will introduce quality standards covering both the content and sale of property search reports and an effective consumer complaints process via the Independent Property Codes Adjudication Scheme.
Under the Chairmanship of Sue Scott, the PCCB will encourage all search firms to sign-up to the Code:
‘Delivering effective consumer redress for home buyers and sellers is at the heart of the Government’s Home Information Pack initiative. The Property Codes Compliance Board has been charged with ensuring that this happens within the property search industry.
Commenting on the introduction of the PCCB and the launch of the Search Code, Fiona Hoyle, Chairman of CoPSO said:
‘Only search firms which subscribe to the Search Code should be able to provide property searches as part of the home buying process. By subscribing to the Search Code and regulation by the PCCB, search firms are sending a clear message to their clients that they are committed to quality standards and robust consumer protection.’
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