But the CML said it is important not to overstate the potential impact of sellers' packs, and to recognise that they are not a panacea.
Other initiatives, such as the National Land Information Service (NLIS) and e-conveyancing, are likely to have a greater impact on speeding up house-buying, according to the CML. And these other measures, unlike sellers' packs, would not introduce extra costs to the market. The CML believes the Government should prioritise and speed up full implementation of NLIS and e-conveyancing, and set dates by which all market participants must use these systems. After this, it will be in a better position to assess whether there is still a perceived benefit in implementing the legislation to introduce sellers' packs.
Commenting on the issue, Peter Williams, CML deputy director general, said: "Sellers' packs may well have a part to play in providing more upfront information to buyers - albeit at a potential cost. However, they are far from the most important new initiative to speed up transactions. The Government, and all those involved in conveyancing, must make sure that they do not get sidetracked by sellers' packs away from other important market developments. Setting targets and providing funding to get the National Land Information Service up to full effectiveness and implement e-conveyancing should be the most urgent priorities."
