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TODAY'S OTHER NEWS

Property Logbooks: New bid to make them part of sales process

Another attempt is being made to introduce property logbooks to the selling and buying process, and agents are invited to play a part.

The concept is now some years old and has been trying to gain a foothold in the buying process. 

A form of additional upfront information to help buyers is supported in principle by the Ministry of Housing, Communities and Local Government, which wants to see increased transparency and simplicity in the process.

A group that has input into the MHCLG deliberations - the Home Buying and Selling Group, including estate and letting agent members - is also broadly supportive of additional upfront information through logbooks and other means.

Now a new group has been formed, called the Residential Logbook Association, consisting of representatives from four companies involved in promoting the logbook idea.

They are Chimni, Property Information Products, Spaciable and National Deeds Depositary.

“The initial aim of the RLBA is to define a logbook, set a data standard and establish an industry register” explains Tim Main of Property Information Products. 

“Each logbook will have a core data set that will identify it. The register, open to the industry and consumers alike, will detail if a logbook exists and who the supplier is. It will very much be one logbook per property per property interest.  This allows for freehold and multiple leasehold interests as well as owner occupiers and different ownership structures such as joint ownerships and commonhold” he says.

“With a huge range of various competitive service propositions - such as upfront sale packs, lettings MOTs, handover packs, utilities, document storage, local authority services, retrofit plans, house history, etc - the logbook aims to link these records to make the information accessible to the consumers” Main continues.

Now he wants other logbook suppliers and a wider range of property professionals - including agents - to join the new group. They should email timmain@piphome.co.uk for details.

  • Matthew Gardiner Legge

    This is a great idea and one that theoretically should speed up the conveyancing process significantly. Another great idea - you heard it from me first - would be if all development companies started the ball rolling with new homes.

  • Peter Hendry

    It's the 29th now. Well, I don't know about anyone else but I do support some method of introducing property log books for those properties being marketed. Speeding up the time it takes to complete sales transactions can only be a very good thing.

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