The PCCB is the independent body responsible for monitoring standards amongst firms that subscribe to the HIP and Search Codes of Practice.
The OFT today announced the formal terms of reference for its latest market study into residential home buying and selling. The PCCB says that the study provides a chance for the housing industry to demonstrate the work it has put into raising consumer standards since the introduction of Home Information Packs (HIPs). As an independent body jointly responsible for driving forward those standards, the PCCB has led the industry in tackling sub-standard practices so as to ensure consumer confidence in the quality of HIPs and property search reports.
Richard Footitt, Chairman of the PCCB, comments: “As the key body responsible for ensuring that two key components of the buying and selling process, Home Information Packs and Property Search reports are produced in ways which serve the best interests of consumers, we welcome today’s announcement and look forward to contributing to the study. It provides an exciting opportunity for the industry to show what it has achieved by setting high standards reinforced through strong compliance procedures.
“The PCCB has devoted significant resources to its inspection regime with clear guidance to subscribers on what to expect from inspections. We’ve also introduced new checks for HIP and Search Code applicants including the need to submit sample products before firms can use the HIP and Search Code logos. The industry has recently announced that the HIP Code will be expanded to enable the maximum range of HIP producers to participate in it.
“It is important that the OFT take a broad view of the consumer interest, reflecting the fact that most sellers are also home buyers. The support and services consumers require go wider than those traditionally provided by estate agents acting principally for the seller. The regulatory framework needs to address this directly to ensure that both buyers and sellers are properly protected. We should be looking for consistent standards that protect both buyer and seller equally and an effective compliance regime that applies whatever the service provided and to whom.”
