Andy Knee, head of sales at LMS, said: “The Law Society want to keep the status quo because it is to their advantage - they can charge what they want and give bad service and customers think this is the norm.”
“It is a disgrace that a complete set of information is not already available to homebuyers in the UK.”
The company has designed the pack for people buying or remortgaging houses through its network of solicitors and, like the Government, believes the packs will speed up the buying and selling process.
The sellers’ packs will be produced on a ‘no buy no fee’ basis providing a model for sellers’ packs nationwide. The customer only pays for a pack if they sell property and the professionals, including the solicitors and the surveyors, are paid on that basis.
It is hoped that this method could eliminate fears that the cost of the pack will put sellers off. The pack also includes an element of title insurance so if any problems arise this is covered and there is a hidden defects guarantee.
