Last October the Property Misdesrcriptions Act 1991 was repealed in favour of the new CPRs.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If CPR means nothing to you..you better read on… On 1 October 2013, the Property Misdescriptions Act 1991 was repealed and replaced by The Consumer Protection from Unfair Trading Regulations 2008 (CPRs).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 […]
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…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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
•Copyright 2015 Custodian. All Rights Reserved
Custodian is a trading name of Custodian Mangement Ltd and is an Appointed Representative of Advent Solutions Management Ltd.
Advent Solutions Management Ltd. is authorised and regulated by the Financial Conduct Authority.