Custodian Musings

The Property Misdescriptions Act repeal

Last October the Property Misdesrcriptions Act 1991 was repealed in favour of the new CPRs. This new law looks like it could significantly increase the liabilities faced by an agent. The Custodian Property Agents Product has been relaunched to address this new liability.  Our product is underwritten by Axa Insurance […]

If CPRs mean nothing to you then read on….

If CPR means nothing to better read on… On 1 October 2013, the Property Misdescriptions Act 1991 was repealed and replaced by The Consumer Protection from Unfair Trading Regulations 2008 (CPRs). So what you might say? Well, this has wide-ranging implications for all estate agents and lettings agents. The […]

Don’t get punished for an innocent mistake

When buying your professional indemnity insurance you will generally have to answer some questions. There is an expectation from you to disclose all ‘material facts’ to insurers. So what is a material fact? A material fact is a piece of information that would have changed how your insurance quote or […]

Complaints about complaints..

Complaints…sometimes they happen. At the last ARLA conference the Ombudsman cited one of the main causes for a complaint to escalate.  It wasn’t the nature of the complaint or the cause of the complaint IT WAS HOW THE COMPLAINT WAS DEALT WITH!  It was found that however severe or insignificant […]

I heard it from the Ombudsman..

No agent wants to be the subject of a complaint to the Ombudsman. So what are the most common causes of complaint? At the last ALRA conference the Ombudsman identified the following to be the main subject areas of a complaint: – referencing: the reference on a potential tenant has […]

CPRs game changer or more of the same?

The new CPRs have now come into force. We talk with many property agents.  It seems the views held range from this is just a storm in a tea cup to this is a comlete game changer transforming an agents liability beyond recognition.  The are also a few agents that […]

Alot of hot air can cause a whole lot of damage..

We all want business. And we all don’t want to pay more than we have to for services. If you are a landlord or a property agent, it could be quite tempting to go for the cheapest Gas safety Certification engineer. It could be tempting to try a new guy […]

One call is all it takes!

Have you ever experienced any of these issues from your current insurance provider? > Lack of communication > Being sold covers you do not need > Being overcharged > Unclear documentation from unknown insurers >Long laborious forms asking far too many questions If you have experienced any of these things […]

Ingenious way for you to sell a house worth just over £250k or just corrupt?

Selling a house just over £250k can be a challenge, as no one wants to go just above the stamp duty ceiling. This poses a problem for a seller if their house is worth just over £250,000. Buyers don’t want to offer more than £250,000 as they will then incur the […]

Mandatory Professional indemnity for property agents?

Not yet… However, we have seen the government step in recently to protect the public with replacing the Property Misdescriptions Act with wider consumer protection in the form of CPRs. Currently letting agents are not externally regulated and not required to have professional indemnity.  The level of potential risk this […]

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