When searching for your dream home, you expect honesty, clarity, and compliance with the law. But a significant number of property listings are failing to provide critical, legally required information. This alarming reality was highlighted in a recent report by the HomeOwners Alliance.
A Compliance Crisis
The HomeOwners Alliance analyzed 150 leasehold property listings across major portals like Rightmove, Zoopla, and OnTheMarket. The findings were deeply concerning:
- No Energy Performance Certificates (EPC): Despite being a legal requirement since 2013, 24% of listings lacked an EPC rating, leaving buyers in the dark about a property’s energy efficiency and running costs.
- Missing Non-Avoidable Costs: Key financial details, such as service charges, ground rent, and council tax bands, were frequently omitted. Only 62% of listings mentioned service charges, 49% detailed ground rent, and a shocking 9% disclosed the date of the next ground rent review.
- Council Tax Neglect: One-third of listings failed to provide council tax information, with London faring worse (55%) than Manchester (77%).
- EWS1 Certificates: For high-rise properties, only 9 of 45 listings mentioned these essential documents, critical for securing mortgages on properties potentially affected by cladding issues.
- Accessibility Information: Less than 5% of listings included details about accessibility or property restrictions.
Why This Matters
The lack of compliance is not just frustrating but also costly and avoidable. As an agent, I want potential buyers to have all the facts upfront. Questions like “Is the lease about to expire? Are the service charges reasonable? Could cladding issues hinder a mortgage?” should be answered transparently from the start to avoid wasted time and resources.
These omissions create unnecessary stress and expenses for buyers. Imagine being three months into the buying process, after spending hundreds on legal fees and surveys, only to discover hidden costs or disqualifying issues. This situation is avoidable and highlights the importance of full transparency from the outset.
The Impact on Vendors
If you’re a seller, you might think this doesn’t concern you. Think again. Non-compliant listings can deter potential buyers, delay sales, and erode trust. Agents who fail to meet legal standards are not just risking fines but also jeopardising your sale’s success. A poorly informed buyer is less likely to commit and more likely to pull out when surprises arise.
What Can You Do?
- Choose Your Agent Wisely: Ask your agent how they ensure compliance with property listing rules. If they can’t provide a clear answer, look elsewhere.
- Audit Your Listing: Review your property listing on major portals. Does it include all legally required information, such as EPCs, service charges, ground rent, council tax bands, and any restrictions?
- Demand Transparency: As a vendor, insist on full disclosure to avoid delays and build trust with potential buyers.
- Stay Informed: Familiarise yourself with the rules and regulations governing property listings. Knowledge is power when it comes to protecting your interests.
A Call for Industry Accountability
The property market is competitive, and transparency is key to fostering trust and efficiency. The industry must do better. Agents need to be held accountable for compliance, and vendors must be vigilant in ensuring their listings meet legal standards.
From my perspective, homeowners shouldn’t have to endure the frustration of spending hundreds on legal fees only to uncover deal-breaking details later. The industry’s patchy performance is unacceptable and undermines trust in the process.
Don’t let rule-breaking agents jeopardise your property sale or purchase. Stay informed, demand compliance, and ensure your listing works for you, not against you.