New property form – changes that will impact the conveyancing process

A Property information form is completed by the sellers at the beginning of the conveyancing process. It provides details about the property for the buyer to review. The law society created it to streamline conveyancing with a set of standard questions.

Why has it been updated?

The most recent form is the 5th edition. It was updated due to changes in guidance to estate agents to comply with consumer protection and unfair trading standards regulations when selling properties. The seller’s information provided on the property information form will help estate agents put key information about a property in marketing material. This will help buyers make informed decisions. The idea is that the form will have more information upfront, and fewer buyers will withdraw. The law society has commented, “It will encourage earlier contact between sellers and their solicitors. Identifying legal issues earlier may help prevent delays”.

The main changes?

The property information form now has two parts. Part 1 provides material information needed by estate agents when marketing the property, and some information is also helpful for the conveyancing process.

Part 2 is focused solely on what additional information the conveyancer will need that is not already supplied in Part 1.
Some of the main areas that have been added are below:

1. The form now has more specific information about the property description, including a unique property reference number. It helps keep database addresses consistent as it is used for central government such as HMRC and other items such as EPCs etc. The UPRN can be found here.
2. It asks for information regarding whether the property is freehold, leasehold, shared ownership, or commonhold. This allows buyers to understand how the property is being held.
3. The parking questions have increased to include items like the cost of parking permits or whether they have electric charging points. With the increase in electric cars and parking restrictions, these will likely become more complex in the future.
4. The form has new questions regarding restrictive covenants. It asks if you have any that impact the use of the property. Restrictive covenants are listed on your property documents and are things you can not do on a property, such as “can’t paint the outside of the property pink”. A property solicitor can assist with this question.
5. Accessibility. The form asks what adaptations or features have been made to provide easier access to or within the property. Items may include wet rooms, step-free access, and more.
6. The new form asks more questions about drainage, such as what sewage system it discharges to and whether it has an infiltration system. Buyers can find further information when they conduct drainage searches, which will allow more information upfront.
7. The Japanese knotweed section now discusses adjacent and abutting properties as well as your own. This is because if your neighbour has knotweed, your property may soon get it.

The form adds more details in a lot of sections

Conveyancers Concerns?

The size of the form has increased dramatically, making it more onerous for sellers.

There have also been concerns it may not have met the outcome the law society had intended, as the information needs to be provided before an offer is made to get it onto marketing materials. The property information form is normally supplied by property lawyers once instructed, which occurs after an offer has been accepted. The information may still be too late.

So, what are the top tips if you are a seller completing the new form?

Only answer what you know. If you do not know, you should answer that you do not know. Guessing or assuming is not the way to go with this form. You are not expected to be experts.

Be truthful and disclose items that answer the question that you do know. Provide all documents relevant to the answers you provided up front and as quickly as possible to speed up the conveyancing process.

If you are unsure about any questions on the form, contact your property solicitor or conveyancer.

Attwells are property experts. Contact us if you have any questions.

Our blogs and articles are correct at the time of writing.

These have been created for marketing purposes only and should not be considered as legal advice.