22 Feb

RICS: More than price has to be considered in conveyancing process

RICS: More than price has to be considered in conveyancing process

The Office of Fair Trading (OFT) should look into more than just price when it is assessing whether consumers are getting a fair deal during the conveyancing process, it has been suggested.

According to the Royal Institution of Chartered Surveyors (RICS), people have a right to expect protection when they are buying a new home.

It made its comments in the wake of a study conducted by the OFT after which it concluded that it would adopt an approach fixed on price competition.

Responding to the development, RICS director of regulation Steven Gould said: "The OFT needs to realise that there is more to protecting consumers and maintaining fair trading than prices."

He added that the office - which is an independent organisation that seeks to make markets work well for consumers - needs to begin talking to the government in order to achieve a "joined-up" approach to property policy.
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