Discover AVRillo’s New Material Information Pack for Estate Agents!

Apr 17, 2024

AVRillo elevates conveyancing with their Material Information Pack, fostering transparency and reducing completion times and client anxiety.

AVRillo has emerged as a pioneering and Gold-winning entity in the UK's conveyancing sector, delivering substantial enhancements to the estate agency and home moving processes. This development centred on improving the speed of disclosure and the obligations of estate agents to provide Material Information, has been a game-changer in terms of transactional transparency and efficiency. The focus is on reducing completion times, with most legal work now being completed within an average of 103 days from when an offer is accepted.

Material Information plays a pivotal role in property transactions, under the directive of the Consumer Protection from Unfair Trading Regulations (CPR). The CPR mandates comprehensive disclosure of Material Information prior to the advertising or listing of any property, which is vital for buyers to make well-informed decisions about viewing, offering, or purchasing properties.

In response to the critical need for adherence to Material Information regulations and the obligation of sellers to furnish this information, AVRillo has created a detailed Material Information Pack. This tool is invaluable for estate agents, providing them with the means to disclose all necessary information upfront, in line with the standards set out by the Law Society, Council of Mortgage Lenders, Propertymark, governmental guidelines, and National Trading Standards. This measure aims to improve the conveyancing process, enhancing its efficiency and dependability, and has been instrumental in reducing the rate of failed property sales and purchases in the UK from a high of 39.8% to a mere 5%.

The impact of the home-moving process on emotional well-being cannot be understated. A national Moverly survey underscores the severity of stress-related issues encountered by 83% of buyers and sellers during or following their move. Notably, 39.8% of intended moves do not materialise, which results in significant financial repercussions. Moreover, 72% of the surveyed group rank conveyancing and moving within the top five most stressful life events, with 11% placing it at the very top, above life-altering events such as death, divorce, and serious health challenges.

AVRillo's Material Information Pack is anticipated to significantly improve the estate agency and moving industry. It is engineered to offer both estate agents and clients a more streamlined process that not only minimises delays but also elevates transparency for buyers, consequently diminishing the risk of severe legal penalties.

For clients, being granted early access to Material Information signifies engaging in transactions characterised by greater transparency, certainty, and trust. This not only empowers them to make informed decisions sooner but also strives to alleviate the stress, costs, and time typically associated with these transactions.

AVRillo's rollout of the Material Information Pack, adhering to the rigorous standards of Trading Standards' Parts A, B, and C, is a landmark advancement for the UK estate industry. It is of immense benefit to all parties in property transactions, particularly estate agents, to provide a service that is both transparent and efficient. The pack serves to shorten the duration for properties to be marketed, as currently reported at 103 days by OnTheMarket. It also aims to decrease the time from the acceptance of an offer to the completion of a sale from 5 to 6 months to as swiftly as 40 days, aligning more closely with the timelines observed in Scandinavian countries like Norway and Sweden.

Estate agents and clients seeking to adeptly manage the intricacies of property transactions are encouraged to consult the comprehensive Material Information Pack provided by AVRillo for further insights and guidance.

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